Typical uses
- Bridging cash flow gaps
- Covering unexpected expenses
- Maintaining operations and pay staff during slow periods
- Stocking up on inventory or supplies
- Paying bills on time
- Managing project-based payment delays
Business overdrafts
A short-term cash flow solution that lets you withdraw funds even after your account balance has reached zero.
Requesting a quote has no impact on your Credit Score.
What is a business overdraft?
With an overdraft, your business can spend more than it has in its transaction account, up to an approved limit.
It works as a revolving credit — you access funds as needed, repay them, and can then use them again — and you only pay interest on the amount you use.
More about business overdrafts
Eligible assets
Common industries
- Construction
- Transport and logistics
- Retail
- Hospitality and events
- IT services
- Creative and media agencies
- Accounting
- Legal
Eligibility
You may be eligible for an overdraft if your business:
- Has an active ABN or ACN
- Is registered and operating in Australia
- Has been trading for at least 6-12 months
Specific criteria can vary between lenders and products.
Get a quote
Requesting a quote has no impact on your credit score.
The benefits of business overdrafts
Flexible access to funds
Use the money whenever and however you need, perfect for managing cash flow fluctuations.
Only pay interest on what you use
You’re charged interest only on the funds you actually borrow, not the total approved limit.
No rigid repayment schedule
Repayments happen automatically as money flows into your business account.
Quick access to capital
Cover unexpected costs without waiting for approval each time.
Unsecured options available
Some lenders offer overdrafts without requiring collateral.
Flexible access to funds
Use the money whenever and however you need, perfect for managing cash flow fluctuations.
Only pay interest on what you use
You’re charged interest only on the funds you actually borrow, not the total approved limit.
No rigid repayment schedule
Repayments happen automatically as money flows into your business account.
Quick access to capital
Cover unexpected costs without waiting for approval each time.
Unsecured options available
Some lenders offer overdrafts without requiring collateral.
Flexible access to funds
Use the money whenever and however you need, perfect for managing cash flow fluctuations.
Only pay interest on what you use
You’re charged interest only on the funds you actually borrow, not the total approved limit.
No rigid repayment schedule
Repayments happen automatically as money flows into your business account.
Quick access to capital
Cover unexpected costs without waiting for approval each time.
Unsecured options available
Some lenders offer overdrafts without requiring collateral.
Things to consider before applying
Potential drawbacks to be aware of
Potential drawbacks to be aware of
- Interest rates are typically higher than other business loan types
- Not ideal for long-term projects or large investments
- Higher limits may require a secured overdraft and a director’s guarantee
- Easy access can lead to over-reliance on overdraft funds
Questions to ask yourself
Questions to ask yourself
- How will this overdraft fit into my overall cash flow strategy?
- Could the cost of borrowing outweigh the short-term convenience?
- Do I really need the full limit, or just occasional access?
- Am I prepared to avoid depending on this as a regular funding source?
At a glance
MAXIMUM LOAN AMOUNT
$500,000
MINIMUM LOAN AMOUNT
$10,000
SPEED
WiTHIN 24 HOURS
INTEREST RATE
MAXIMUM LOAN TERM
5 YEARS
MINIMUM LOAN TERM
N/A
Requesting a quote has no impact on your Credit Score.
Potential lenders
How to apply for a business overdraft
STEP 1: GET A QUOTE
Tell us about your business loan needs and immediately receive quotes from over 90+ bank and non-bank lenders.
STEP 2: GET APPROVED
Confirm your quote and we handle your business loan approval so you can focus on what matters—your business.
STEP 3: GET FUNDED
Sign your finance documentation and receive funding. It is that simple.
Get a quote
Requesting a quote has no impact on your credit score.
What sets us apart
DIY business loans
Lender access
Access to 90+ lenders matched to your business profile
Limited to the lenders you can find
Expert guidance
A lending expert is with you every step of the way
No expert help- you're on your own to understand requirements and loan options
Time investment
One single application
Multiple applications and follow-ups with different lenders
Matching accuracy
Our product-matching software combined with human insight pairs you with best-fit lenders
Trial and error- may apply to several lenders who aren't suitable
Application process
Streamlined, digital, and guided
Manual and varies across lenders
Approval speed
Funding in as little as 24 hours
Slower, as each lender has its own process
Chances of approval
Higher chance of approval with tailored lender matching
Risk of rejection when applying with the wrong lender or product
Understanding loan terms
Our lending experts make sure you fully understand the terms before you say yes
You’ll need to interpret lender jargon and fine print yourself
How we help fuel your business growth
ONE APPLICATION TO 90+ LENDERS
We simplify business finance by handling the hard work. Complete a quick form or speak with a specialist, and we’ll match you with the right solution from 90+ lenders—often within 24 hours.
PERSONALISED SUPPORT
Our expert brokers cover all areas of commercial finance. From your first quote to settlement and beyond, you’ll have a dedicated broker by your side—ready to support your funding needs now and in the future.
BUILT FOR AUSTRALIAN SMEs
Since 2015, we’ve helped over 30,000 Australian SMEs across every industry access $3 billion in funding—supporting them through challenges and unlocking new opportunities.
Learn more about business overdrafts
FAQ's
How much does a business overdraft cost?
The cost of a business overdraft depends on the lender and how you use it. Typical charges include interest, establishment fees, monthly/annual fees, and over-limit fees.
Can sole traders get a business overdraft?
Yes, sole traders can apply for a business overdraft, although eligibility will depend on factors like your trading history and turnover, personal and business credit score, and cash flow.
What happens if I exceed my overdraft limit?
If you go beyond your approved limit, you may be charged an over-limit fee. Your lender may reduce your facility or ask for immediate repayment, and your credit score could also be negatively impacted. Setting up alerts or auto-transfers can help you avoid going over the limit.
How do overdraft repayments work?
Overdraft repayments are automatic, with money deposited into your business transaction account instantly reducing the overdraft balance. There’s no fixed minimum repayment, but you are expected to restore the credit balance from time to time.
Can I repay a business overdraft early?
Yes, you can typically repay a business overdraft early without incurring any prepayment penalties.
Hear from our clients
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Awards & key milestones
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