Coast Capital Savings Overdraft Protection

Amount:

$ 3,500.00

Type:

Loan

Description:

Coast Capital Savings offers a service akin to calling in back-up for one’s chequing account. For businesses finding it challenging to keep track of their account activities, especially with uncertainties about when cheques will clear or pre-authorized payments are due, Overdraft Protection serves as a solution. While it may resemble a line of credit, the institution advises against using it for discretionary purchases, emphasizing its intended purpose to provide coverage until a deposit can be made to cover debits.

Comments on Funding:

Funding takes the form of an overdraft, a revolving credit:
– Attaches to your existing chequing account;
– Limits of $500 to $3500 available;
– Interest only charged on funds used.

Deadline:

Rolling deadline

Eligibility:

Businesses.

Application Steps:

Connect with the Business Banking Team.

Documentation Needed:

No specific documentation has been identified.

Other Things to Note:

Maurice

About the author

Maurice

Maurice (Moe) Muise learned the ins-and-outs of government while an employee of the Government of Canada in Ottawa for 10 years. His current focus is helping small businesses in Canada to identify and maximize funding to grow their business.

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