By John Pierre Saliba · April 2026 · OverdraftMe
If your bank just declined your business overdraft application, take a breath. It doesn't mean your business is unfundable. It means the bank's criteria didn't match your profile. Banks are rigid. Non-bank lenders are not.
The big four banks (CBA, NAB, ANZ, Westpac) all require similar documentation: tax returns, financial statements, BAS, property security for larger amounts, and credit scores well above the non-bank minimum. If any single element is missing or imperfect, the application gets rejected.
The most common reasons:
| Requirement | Banks | Non-bank (via OverdraftMe) |
|---|---|---|
| Tax returns | Required | Not required under $150K |
| Financial statements | Required | Not required |
| BAS | 12 months required | Not required |
| Property security | Often required | Not required under $150K |
| Trading history | 2+ years typical | From 6 months |
| Credit score | 600+ typical | 550+ minimum |
| Documents needed | Full financials package | 6 months bank statements + ABN + ID |
| Decision speed | 4-6 weeks | 1-4 hours |
Non-bank lenders including Shift, Prospa, Moula, Banjo, Bizcap, Lumi and OnDeck assess business overdraft applications on your actual business performance - the cash flowing through your account every month - rather than rigid bank credit models. A business with $80,000 a month in revenue, a managed ATO debt and an Equifax score of 570 that was declined by NAB will often be approved by a non-bank lender within 24 hours. The usual path is an unsecured business overdraft assessed on six months of bank statements; if credit history is the issue, see business overdrafts with bad credit.
Note: some industries are restricted by most lenders regardless of your financial position. Check the restricted industries list.
The most common reasons are trading history under the bank's minimum, tax returns or BAS not up to date, credit scores below the bank's internal benchmark, ATO debt, or insufficient property security. A decline means the bank's credit policy does not fit your profile right now - not that your business is unfundable.
Usually, yes. Non-bank lenders assess 6 months of bank statements instead of financials, with no property security or tax returns required under $150,000. Guides: $6,000+ monthly turnover and Equifax 550+, assessed case by case, with decisions from 1 hour.
No. The major banks run similar criteria, so you will likely get the same result plus another credit enquiry on your file. Each enquiry temporarily lowers your score and signals distress to the next lender. Get advice first, then submit one application to the right lender.
The decline itself is not recorded, but the application enquiry is. Future lenders see the enquiry, not the outcome - which is why limiting the number of applications matters more than the decline itself.
The most common reasons are short trading history, no property security, ATO debt or arrears, financials that are not up to date, and industry risk settings. A bank decline reflects bank criteria, not necessarily your creditworthiness: non-bank lenders assess the same business on 6 months of bank statements and regularly approve where a bank said no.
One application through OverdraftMe. One credit enquiry. 50+ non-bank lenders. We find the one that says yes. See our results.
2 minutes. No credit impact. No commitment.
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