5 things you need: ABN active 6+ months, $6,000+/month in revenue, Equifax score 550+, no current bankruptcies, and 6 months of business bank statements. No property required. No tax returns required under $150K.
About 70% of the businesses that enquire through OverdraftMe meet the minimum criteria. The other 30% usually fall short on credit score or trading history. This guide explains exactly what you need, what stops you, and what you can do about it.
6 months of trading history is the minimum starting point. Here are all five criteria that non-bank lenders assess.
4 things will stop most lenders from approving your application. Some of these can be fixed. Others need time.
ATO debt does not automatically disqualify you. If you have an active ATO payment plan and you are keeping up with payments, most lenders will still consider your application.
2 years is the minimum trading history at most banks. Here is how bank and non-bank criteria compare side by side.
| Criteria | Non-bank (via OverdraftMe) | Major bank |
|---|---|---|
| Minimum trading time | 6 months | 2+ years |
| Minimum revenue | $6,000/month | $20,000+/month (varies) |
| Credit score | 550+ Equifax | 600+ (often 650+) |
| Tax returns required | No (under $150K) | Yes (2 years) |
| Financial statements | No | Yes (2 years) |
| BAS required | No | Yes (12 months) |
| Property security | Not required (unsecured to $500K) | Often required above $50K |
| ATO debt OK | Yes, with payment plan | Usually no |
| Approval timeline | 1-24 hours | 2-6 weeks |
Banks offer lower rates, but the eligibility bar is much higher. If your bank has already declined you, or if you do not have 2 years of financials ready, a non-bank facility through OverdraftMe is the realistic path. Read our guide for businesses declined by their bank.
3 documents is all you need for a non-bank line of credit under $150K. No accountant involvement required.
For facilities above $150K, some lenders may also request:
No lender on our panel requires property valuations, business plans, or profit and loss forecasts for standard unsecured facilities.
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$10,000 to $500,000 is the range for unsecured non-bank lines of credit. Your limit depends on your monthly revenue.
| Monthly revenue | Typical approved limit |
|---|---|
| $6,000 - $15,000 | $10,000 - $25,000 |
| $15,000 - $30,000 | $25,000 - $50,000 |
| $30,000 - $80,000 | $50,000 - $150,000 |
| $80,000 - $200,000 | $150,000 - $300,000 |
| $200,000+ | $300,000 - $500,000 |
Most lenders approve between 1x and 1.5x your average monthly revenue. A business depositing $50K/month would typically qualify for a $50K-$75K facility. Use our borrowing calculator for an instant estimate.
Real example: a plumbing contractor in Melbourne with $45K/month revenue, Equifax score of 610, and 14 months trading was approved for a $60K line of credit at 17.5% p.a. through OverdraftMe. Total approval time: 4 hours. Funded same day.
General information only. Not financial advice. Credit subject to lender assessment. All rates, fees and terms quoted are indicative only and subject to change based on your individual circumstances, credit profile and lender policy at the time of application. OverdraftMe is a credit representative of Lend & Loan Pty Ltd (ACL 511092).
Most non-bank lenders require an Equifax credit score of 550 or above. This is the director's personal score, not a business credit score. Scores above 650 qualify for better rates and higher limits. Some specialist lenders will consider scores below 550, but options are limited.
Yes, if you have an active ATO payment plan and you are meeting the payments. Most non-bank lenders accept ATO debts with a current payment plan. Unpaid ATO debts with no plan in place are more difficult. The key is to show the lender you are managing the debt, not ignoring it.
No. Unsecured business lines of credit up to $500K are available through non-bank lenders based on cash flow alone. No property, no real estate, no asset security required. A personal guarantee from the director is standard.
For facilities under $150K through a non-bank lender: 6 months of business bank statements (PDF from internet banking), a valid driver's licence, and your ABN. No tax returns, no financial statements, no BAS required.
6 months minimum with most non-bank lenders. Some lenders require 12 months. Banks typically require 2+ years. The 6-month threshold means you need 6 months of bank statements showing business activity.