Working Capital Solutions

short-term needs

We can help you with short-term financing to keep your business operations running smoothly.

Sometimes even the best-run businesses are susceptible to cash flow fluctuations and require short-term financing to keep operations running smoothly and execute plans without constraint.

Loans and Lines of Credit

Our wide range of loan options let you choose what’s right for your business now and in the future.  Convenient and flexible terms, payment schedules and credit access can let you concentrate on what’s most important – running your business.

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RBC’s Working Capital Line is an automated revolving line of credit, providing businesses with financing to cover both predictable and unexpected needs.  This solution is structured to enable clients to borrow, repay and re-borrow within their authorized limits with no hassle.

This revolving funds arrangement allows clients to establish:

  • Minimum balances to be maintained in their business deposit account
  • Minimum revolving amounts to simplify their bookkeeping
  • The ability to have their Working Capital balances paid through automatic sweeps when they have excess cash in their deposit account

Here are the great features and benefits of a RBC Working Capital Line:

Features

Benefits

Short-term revolving facility Access - availability of funds which can be used repeatedly
Interest-only monthly repayment  Flexibility - you decide when to repay principal based on your cash flow
Transact via mobile and online banking Convenience - bank on your own terms - monitor transactions without having to visit the bank
Automated drawdowns of $10,000 Fast - drawdowns can be automatically triggered based on your need of funds. No need to visit the bank to sign for each drawdown. Accessing your business line of credit is hassle-free
Customized Sweep Functionality  Easy - repayments can be customized to your individual business needs with automated tranches of $10,000
Preferential Pricing Affordable - enjoy RBC's most cost-effective financing solution for your working capital needs with limits starting at $20,000
Monthly statements  Easy accounting - track outstanding loan balances and quickly renconcile your operating account

 

How to apply for a Working Capital Line:

If you are interested in getting a Working Capital Line, call us to make an appointment or come in to talk with our Relationship Managers, with the following documents:

  • Financial statements for the last three (3) years
  • Current aged listing of accounts receivables, inventory and accounts payable

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Sometimes you need to seize an opportunity or solve an unexpected challenge. 

Aside from your Working Capital Line, RBC’s short-term loans assist with a cash boost to solve for your specific needs. 

Your Working Capital Line will continue to be available to keep operations running smoothly, while your separate short-term loan could be paid down over an agreed term of less than one year, allowing you to reduce your borrowing.

FeaturesBenefits
Short term facility Access - availability of funding for specific opportunities and/or events
Monthly repayment options or bullet payments Flexibility - repay principal via blended payments, interest only and with bullet payment and reduce your borrowing within a defined timeline
View via mobile and online banking Convenience - bank on your own terms - monitor transactions without having to visit the bank

How to apply for a short term loan:

If you are interested in getting a short term loan, call us to make an appointment or come in to talk with our Relationship Managers, with the following documents:

  • Monthly cash flow projections for the next three (3) years
  • If your business is already operating
    • Financial statements for the last three (3) years
  • If you are about to set up your business
    • Your Business Plan, detailing the type of business, competitive analysis, marketing plan
    • Projected Financial statements for the next three (3) years

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RBC Business Credit Cards provide international and convenient access to funds and can help you track and manage all your business expenses, so you can spend more time growing your business and less time on accounting and administration.  Choose the card that works best for you.  Enjoy convenience, security and value to fit your lifestyle:

View our business credit cards - RBC Rewards Visa Business Platinum and Visa Business

Features

  • RBC credit cards are accepted at millions of merchants worldwide.
  • Get 24 hour customer service using 1-800 toll-free number from anywhere in the world.
  • Fraud monitoring system in place to ensure the safety and security of your account.
  • Enjoy very competitive fees and rates.
  • We guarantee quick turnaround from application to credit card in your hand!

Benefits

  • Fixed rate of interest
  • Ability to efficiently track and manage all your business expenses
  • RBC Rewards programmes
  • Improve cash flow and cut cheque writing costs
  • Easy access to all your transaction information through Online Banking.

Choose the card that's right for you! For more information, please contact your branch to discuss which available facilities work best for you.

 

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The Commercial Overdraft product is directly linked to the Business Deposit Account and provides business clients with a hassle-free form of protection against cheque(s) or other debit items being returned for non-sufficient funds.  Overdraft protection allows you to extend your cash resources when you need it, giving you peace of mind while helping to protect your business’ reputation and credit rating.

Features

Benefits

Pre-arranged limit
  • Once set, you have access up to this limit
  • Bank will honour cheques written up to this limit, although you do not have funds in the account
  • You will be able to meet your immediate obligations and make payments on time, while you wait to collect monies owed to you.
Variable interest rate
  • Your interest rate is adjusted to reflect current condition in the market / economy
Pay only for funds spent
  • You control the interest cost incurred by the business as you are only charged interest on the funds for the period of time in use
Access to NetBank for Small Business
  • Through the online banking service, you can
    • Monitor account activity and balances
    • Send wire transfers anywhere in the world
    • Pay employees’ salaries

How to apply for a commercial overdraft:

If you are interested in getting a commercial overdraft, call us to make an appointment or come in to talk with our Relationship Managers, with the following documents:

  • Monthly cash flow projections for the next three (3) years
  • If your business is already operating
    • Financial statements for the last three (3) years
  • If you are about to set up your business
    • Your Business Plan, detailing the type of business, competitive analysis, marketing plan
    • Projected Financial statements for the next three (3) years