Overadvance

Overadvance

A short-term loan that a company takes out in order to buy more material for its inventory immediately before a period of increased sales. A company uses an overadvance to finance its expected increase in sales.
References in periodicals archive ?
Oil and natural gas company Mid-Con Energy Partners LP (NasdaqGS:MCEP) said on Tuesday that it has completed its new spring 2016 borrowing base redetermination of a USD53m permitted overadvance and a USD110m conforming tranche with immediate effect.
Wall Street was willing to provide warehouse and overadvance lines to new entrants such as Irvine, California-based BNC Mortgage, Inc.
The proceeds from the sale will allow us to significantly reduce our senior debt and eliminate the overadvance, and will facilitate a refinancing of the secured lenders.
The notice of default was issued primarily due to an overadvance of the Company's borrowing base.
The new credit facility is secured by a first-priority lien on the subsidiary's proved oil and natural gas reserves and contains a $10 million overadvance feature.
The new ABL consists of a facility with up to $95 million of borrowing capacity, in addition to an overadvance facility with up to $10 million of borrowing capacity.
GE was able to provide a creative overadvance structure and eliminate high cost capital under the facility.
The Company also stated that it had requested an overadvance from its lenders which could lead to its lenders issuing a notice of default.
OTCBB:SIAY) announced today that its senior lender has extended until September 20, 2000, the period in which the Company must reduce its permitted overadvance facility to the level required by the Company's Revolving Credit, Term Loan and Security Agreement with the senior lender.
OTCBB:SIAY) announced today that its senior lender has extended until September 6, 2000, the period in which the Company must reduce its permitted overadvance facility to the level required by the Company's Revolving Credit, Term Loan and Security Agreement with the senior lender.
OTCBB:SIAY) announced today that its senior lender has extended until August 30, 2000 the period in which the Company must reduce its permitted overadvance facility to the level required by the Company's Revolving Credit, Term Loan and Security Agreement with the senior lender.
This is primarily as a result of an overadvance from GECC in the amount of approximately $1.