Eligibility, rates, costs, worked examples and what documents you need. Written by John Pierre Saliba, MFAA accredited broker.
Get my indicative quote → Call 02 8046 3933A business line of credit is a revolving facility that works like an overdraft but is not tied to your transaction account. You draw funds as needed, repay when revenue lands, and the limit refreshes. Interest applies only to the drawn balance.
Through the OverdraftMe lender panel, lines of credit range from $20,000 to $500,000. The key difference from a business overdraft is that a line of credit operates as a separate facility, not linked to your everyday bank account.
| Feature | Detail |
|---|---|
| Facility size | $20,000 to $500,000. Use the borrowing calculator for an estimate. |
| Interest rate | 13% to 22% p.a. (drawn balance only) |
| Term | Revolving, redraw without reapplication |
| Repayment | Interest-only on drawn balance, repay principal at will |
| Trading history | 6 months minimum |
| Min monthly revenue | $6,000 in business bank deposits |
| Credit score | Equifax 550 or above |
| Property security | Not required under $150,000 |
Not sure if you qualify? Check eligibility here.
Facility limit: $200,000
Amount drawn: $80,000 for a project deposit
Interest rate: 18% p.a. (drawn balance only)
Weekly interest cost: ~$277 on the $80K drawn
After client pays: Repay $80K, interest stops immediately
Facility resets: $200K available again, no reapplication
See real settled deals on the results page.
Want to see numbers for your business? Get your indicative quote. Takes 2 minutes. No credit check.
Want the facility tied to your transaction account? See the Business Overdraft Factsheet.
Need a fixed lump sum instead? See the Business Loan Factsheet.
No property? See the Unsecured Overdraft Factsheet.
For stock or payroll gaps, see the Working Capital Loan Factsheet.
OverdraftMe serves all states and territories. Speak to a broker in Sydney, Brisbane, or Gold Coast.
A revolving credit facility separate from your transaction account. You draw what you need, repay, and the limit refreshes. Interest on drawn balance only.
An overdraft is attached to your everyday bank account. A line of credit is a standalone facility. Both are revolving, but a line of credit gives you a separate pool of funds.
$20,000 to $500,000 through the OverdraftMe lender panel. Use the borrowing calculator for a personalised figure.
13% to 22% p.a. on the drawn balance only. No interest on undrawn funds.
No. Under $150,000, most lenders require only 6 months of bank statements, an ABN, and a driver's licence.
Decisions typically in 1 to 4 hours. Same-day funding available for complete morning applications.
Yes. The facility revolves. Once you repay, the full limit is available again without reapplying.
Still have questions? Call John Pierre on 02 8046 3933 or see all FAQs.
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. Past approvals do not guarantee future results. OverdraftMe is a credit representative of Lend & Loan Pty Ltd (ACL 511092).
Same content as above, in a 2-page PDF you can email or print. Written by John Pierre Saliba.
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Get my quote - 2 minutes → 02 8046 3933 John Pierre Saliba · Credit Representative of Lend and Loan Pty Ltd · ACL 511092 · MFAA · AFCA