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.

Mid-Con Energy Partners concludes spring 2016 borrowing base redetermination

Wall Street was willing to provide warehouse and overadvance lines to new entrants such as Irvine, California-based BNC Mortgage, Inc.

Smart Capital

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.

MSI: TERRAILLON SALE TO HELP PAY DOWN DEBT

The notice of default was issued primarily due to an overadvance of the Company's borrowing base.

All American Semiconductor Announces Unaudited Fourth Quarter and Fiscal Year End Revenues and Estimated Results

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.

Encore Acquisition Company Announces Completion of Big Horn Basin Acquisition and Enters Into New Credit Facilities

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.

Milacron Signs 5-Year, $105 Million Credit Facility; Increased Liquidity at Better Terms

GE was able to provide a creative overadvance structure and eliminate high cost capital under the facility.

GE Global Sponsor Finance Provides $850-Million Senior Credit Facility for Largest Independent Distributor of Agricultural and Non-Crop Inputs

The Company also stated that it had requested an overadvance from its lenders which could lead to its lenders issuing a notice of default.

FAO Makes Comment Regarding Recent Sales Trends

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.

Signal Apparel's Senior Lender Extends Compliance Deadline

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.

Signal Apparel's Senior Lender Extends Compliance Deadline

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.

Signal Apparel Provides Financial Update

This is primarily as a result of an overadvance from GECC in the amount of approximately $1.