My Bank Declined My Business Overdraft - What Are My Options?

You're not alone - 60% of our clients were bank-declined first

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.

Why banks decline business overdrafts

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:

Tax returns not up to date (the #1 reason)
Trading history under 2 years
Credit score below the bank's threshold (typically 600+)
ATO debt on file
No property to offer as security
Industry classified as high-risk by the bank

What non-bank lenders require instead

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

Note: some industries are restricted by most lenders regardless of your financial position. Check the restricted industries list.

Bank-specific guides

One application through OverdraftMe. One credit enquiry. 50+ non-bank lenders. We find the one that says yes. See our results.

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