Business Overdraft

Our Business Overdraft is a flexible way to manage your short-term cashflow and cover everyday business expenses. Withdraw money up to your approved limit when needed, and deposit funds when your business receives payments.

Flexible repayment options
Only pay interest on balance owing
Easily access funds
Options to secure

Key Features
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Product Features:

Business Lending Features
Interest Rate :	Interest rates differ based on the type of security you provide for your loan, your loan amount and other factors.
Minimum loan amount :	No minimum
Maximum loan amount :	$1,000,000
Maximum LVR :	N/A
Maximum loan term :	Subject to annual renewal
Interest calculation :	Calculated daily, charged monthly
Repayment type :	Billing up to the credit limit then required to bring under limit each month
Establishment fee :	$500
Monthly loan fee :	$0
Early termination fee :	$0
Extra repayments :	N/A
Interest offset :	N/A
Redraw :	N/A
Loan preparation fee :	At cost
Increase/top up :	Yes
Business type :	Businesses of any type, including sole traders, partnerships, trusts and registered companies. Groups or individuals using the lending facility for business purposes are also eligible.
Security :	Secure your loan with residential or commercial property, cash collateral, directors guarantee or general security agreement
Second mortgage security :	No
Vacant land as sole security :	No

Business Enquiry Form

First Name *

Surname *

Business Name *

Address *

Phone *

Email *

Are you a G&C Mutual Bank member? *

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What is a 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.

What are the benefits?

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
No minimum or maximum loan term
Flexible repayment options

Who is eligible?

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.

What security can be used?

Residential Property
Commercial Property
Cash Collateral
Directors Guarantee
General Security Agreement

We're ready to help you

Eligibility criteria, terms & conditions, fees & charges apply.

Product Features:

Business Lending Features

Business Enquiry Form

We're ready to help you