2 min read
Definition
An uncommitted facility is one the lender can offer, reduce or cancel at its discretion, typically "on demand". Many day-to-day overdrafts are technically uncommitted.
In plain terms
It is available until it is not. Convenient and low-fee, but the rug can be pulled exactly when you most need the money.
Why it matters for your company
Never anchor a critical cash flow plan to an uncommitted line. For dependable headroom, use a committed facility such as Credicorp’s business credit facility.
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Committed facility
A committed facility is credit the lender is legally bound to provide up to an agreed limit — certainty you…
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Overdraft (Business)
A business overdraft is a revolving credit limit attached to a current account, allowing a company to draw…
Read →Demand facility
A demand facility can be recalled by the lender at any time, in full — maximum flexibility for them, maximum…
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Revolving facility
A revolving facility lets you draw, repay and redraw up to a limit, paying interest only on what you use —…
Read →Funding for UK limited companies
Credicorp lends to your company, not to you personally — short-term working capital with no personal guarantee. See what your business could access.