Business Overdraft

Overdrafts are flexible short-term cash flow solutions that can help with the ups and downs of business. An overdraft can cover trading or seasonal cash flow cycles or managing working capital. For example, paying suppliers or purchasing stock when cash flow gets tight. Unlike business loans, overdrafts do not have set repayment commitments. You can draw on the funds in your overdraft, up to the agreed limit, and make deposits when funds are available.

• Fast and easy access to funds
• Withdraw money up to your approved limit when you need, make deposits when your business receives payments
• Pay interest only on what you use
• Secured or unsecured finance
• No minimum or maximum loan term
• Flexible repayment options

To be eligible for an Business Overdraft:

• Your business must be a tax resident of Australia, that is based, registered, and operating in Australia
• The overdraft must be used for business purposes
• Customers must be business entities, including sole traders, partnerships, trusts etc
• The directors, partners or sole traders must be 18 years of age or older
• Supply a directors guarantee where required

You'll need to meet additional credit eligibility criteria upon application such as:

• Have been established in their business undertaking for at least 2 years;
• Have demonstrated experienced and competent management; and
• Have a history of profitable business operations.

If you want access to less than $75,000, an unsecured business overdraft may suit your needs. An unsecured overdraft can provide more funds in your business transaction account, without you having to offer a specific asset (such as a residential property or cash) as security against the loan. Please note that a director’s guarantee will be needed if you’re a corporate borrower.

If you’re looking for access to funds more than $75,000, you could consider a secured business overdraft. This means we give you access to more funds in your business transaction account, and you provide security for the overdraft with a specific asset.

• Residential Property
• Commercial Property
• Cash Collateral