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Overadvance
(redirected from Overadvances)

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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.
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During the moratorium, the Company will continue to be obligated for interest at the default rate under the facility, except for interest on overadvances that accrue at the bank's prime rate plus 8% per annum, in addition to forbearance fees of $450,000 payable upon termination of the moratorium.
Ronson Corporation Announces Plans to Divest Aviation Division, ... by PR Newswire
Indeed, in the middle of August, Salton received an amendment to its senior credit facility that provided it with additional borrowing capacity, extended the date for the termination of the facility and extended the date on which the company has to repay its outstanding overadvances on the facility.
Salton, Applica try, try again: deal is on by Gill, David / HFN The Weekly Newspaper for the Home Furnishing Network
Several have been known to put overadvances or risk money into a deal beyond formula.
Recessionary trends fail to dent growth; Phenomenal rise: Innovative ... by The Birmingham Post (England)
 
 
 
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