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 overdraft is a revolving line of credit attached to your business bank account. You draw funds when you need them, repay when cash comes in. Interest is charged only on the drawn balance, not the full limit. The facility refreshes as you repay. No reapplication needed.
Most Australian business overdrafts through our lender panel range from $10,000 to $500,000. Under $150,000, you do not need tax returns or property security. Six months of bank statements, an ABN, and a driver's licence is the full list.
| Feature | Detail |
|---|---|
| Facility size | $10,000 to $500,000. Use the borrowing calculator for a personalised estimate. |
| Interest rate | 14.55% to 25% p.a. (drawn balance only) |
| Term | Revolving, no fixed end date |
| Line fee | 1% to 2% p.a. on the approved limit |
| 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: $100,000
Amount drawn: $60,000
Interest rate: 24.95% p.a. (drawn balance only)
Weekly interest cost: ~$288 on the $60K drawn
Line fee: ~$1,500/year on the $100K limit
Undrawn cost: $0 interest on the remaining $40K
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.
Need a lump sum with fixed repayments instead? See the Business Loan Factsheet for a side-by-side comparison.
For project-based draws without tying to your transaction account, see the Line of Credit Factsheet.
No property to offer as security? See the Unsecured Overdraft Factsheet.
For stock purchases or bridging invoice gaps, see the Working Capital Loan Factsheet.
OverdraftMe serves all states and territories. Speak to a broker in Sydney, Melbourne, or Brisbane.
A revolving line of credit attached to your business bank account. You draw what you need, repay when cash comes in. Interest on the drawn balance only, not the limit.
$10,000 to $500,000 through the OverdraftMe lender panel. Amount depends on monthly revenue, credit score, and trading history. Use the borrowing calculator for an estimate.
Rates range from 14.55% to 25% p.a. on the drawn balance. Plus a line fee of 1-2% p.a. on the total approved limit. See the full rate breakdown for 2026.
No. Under $150,000, most lenders on the OverdraftMe panel require only 6 months of bank statements, an ABN, and a driver's licence.
Equifax score of 550 or above is the minimum for most lenders. Some specialist lenders consider lower scores case by case. Read more about bad credit options.
Decisions typically come back in 1 to 4 hours during business hours. Same-day funding is available for complete morning applications.
Different tools for different jobs. An overdraft suits recurring cash flow gaps. A business loan suits one-off purchases with a known cost. See the Business Loan Factsheet for comparison.
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