What are the costs?
A GrowthLine has only two costs.
- A monthly fee of 0.4%+VAT, of the peak amount you borrow in the prior month.
- Interest, which is calculated on a daily basis, so you only pay for what you borrow (similar to an overdraft with your high street bank) and collected monthly. Depending on your financial status and market conditions, interest will range between 0.2% and 1.25% per month.
A GrowthLine has a representative APR of 11%, assuming the average utilisation rate is 70% over the course of one year. You can read more here for additional information on APR.