Everything you need to know
before you apply

A business overdraft (or line of credit) is a revolving facility — you draw what you need, repay it, and access the funds again. You only pay interest on the amount actually drawn at any time. It's ideal for managing ongoing cash flow, covering seasonal gaps, or having a financial buffer ready to go.

A business loan provides a lump sum upfront, which you repay in fixed weekly instalments over an agreed term. It suits one-off investments like equipment, fitouts, stock purchases, or expansion — where you know exactly how much you need.

Both business overdrafts and business loans are available up to $500,000, subject to credit assessment. The actual amount available to your business depends on your monthly turnover, trading history, credit profile, and whether the facility is secured or unsecured. Use our finance calculator for an indicative estimate.

Funds can be used for almost any legitimate business purpose, including:

• Managing day-to-day cash flow and working capital
• Paying staff wages or contractor invoices
• Purchasing stock or inventory ahead of demand
• Funding marketing campaigns and growth initiatives
• Paying international suppliers
• Covering outstanding invoices while awaiting payment
• Bridging seasonal revenue shortfalls
• Equipment purchases or business fitouts

Using our eligibility calculator or submitting an initial enquiry does not affect your credit score. A formal credit check only occurs once you proceed to a full application with a lender, and you will be informed before this happens.

We work with businesses that have been trading for as little as 6 months. The minimum trading period required depends on the amount you are seeking and your overall business profile. Businesses with longer trading history may have access to higher limits and more competitive terms.

The minimum monthly turnover is $6,000 (approximately $72,000 per year). Businesses with higher turnover may qualify for larger facilities and more flexible terms.

General requirements across our lender panel:

• Minimum 6 months trading history in Australia
• Minimum monthly turnover of $6,000
• Active Australian Business Number (ABN)
• Business owner must be 18 years or older
• Australian citizen or permanent resident
• Good credit history — no recent defaults or dishonoured payments
• Active business bank account

For facilities above $150,000, property ownership is generally required. Businesses with larger turnover and longer trading history may access higher limits with less security required.

Yes. The following sectors are generally not eligible for business overdraft facilities through our lender panel: Property Development, Mining Exploration and Mining Services, and Primary Agriculture (Farms). If your business operates in one of these sectors, please contact us to discuss your options — some lenders may consider applications on a case-by-case basis depending on the specific nature of the business.

A minimum Equifax score of 550 is generally required. Factors that may affect approval include recent defaults or dishonoured payments. Having an existing loan with another lender does not automatically disqualify you — many businesses have multiple facilities. Eligibility is assessed on a case-by-case basis across 50+ lenders, and what one lender declines another may approve.

We can assist companies, sole traders, partnerships, and trusts — provided they hold an active ABN and meet the general eligibility criteria. A personal guarantee from the business owner or director is typically required.

At least one business owner or director must be an Australian citizen or permanent resident. Visa holders are generally not eligible as the primary applicant, though this may vary depending on the lender and individual circumstances. Please contact us to discuss your situation.

Once approved, a credit limit is established. You can draw funds up to that limit at any time without reapplying, directly from your business account or via a lending app. Interest is only charged on the amount actually drawn — not on the unused portion of your limit. As you repay, your available balance refreshes automatically, giving you ongoing access to working capital throughout the term.

Terms vary depending on the lender and your business profile. Facilities are typically available for 2 years with an option to renew, or up to 5 years for qualifying businesses. At the end of the term you can apply to extend, repay the outstanding balance, or where eligible, move to a repayment plan.

You can draw any amount up to your approved credit limit at any time during the facility term. There is no restriction on how often you draw or repay — you can do so as many times as you need throughout the term.

Yes. Depending on your lender, a 14-day change of mind policy may apply. This means you can cancel your agreement and return the funds free of charge within 14 days of settlement. After 14 days you can still repay the facility early, though fees and charges may apply. Your broker will explain the specific terms that apply to your facility.

A business loan gives you the full approved amount upfront as a lump sum, with fixed weekly repayments over a set term. It is best suited to a specific planned expense where you know exactly how much you need. A line of credit (overdraft) is revolving — you draw, repay, and redraw as needed, paying interest only on what you use at any time. It is best for ongoing cash flow management.

Business loan terms range from 3 months to 5 years, depending on the amount and your business profile. Shorter terms mean higher weekly repayments but less total interest paid. Longer terms reduce weekly repayments but increase the total cost of borrowing.

Yes — you can make additional repayments or repay the full outstanding balance at any time to reduce your interest costs. Early repayment fees may apply depending on the lender and your loan agreement. Your broker will outline the specific terms before you proceed.

Repayments are made weekly and are automatically debited from your nominated business bank account so you never miss a payment. For a business overdraft, repayments include a weekly service fee plus interest and a portion of principal on any drawn amount. For a business loan, repayments are a fixed weekly amount covering principal and interest.

Fee structures vary by lender and product. Common fees include:

• Weekly service fee — charged for ongoing access to your facility
• Interest — charged only on funds drawn, not on your full limit
• Registration fee — may apply for facilities above $150,000 where security is registered

There is generally no origination or establishment fee for facilities up to $150,000. Full fee details will be outlined in your loan agreement before you sign.

If a repayment is missed, a small missed repayment fee may be charged. You can make up the missed payment via your lending app or by contacting your broker or lender directly. If you are experiencing financial difficulty, it is important to get in touch as early as possible — lenders have hardship provisions available.

Yes. For a business overdraft or line of credit, interest is only charged on the amount you have actually drawn — not on your total approved limit. If your limit is $100,000 but you have only drawn $20,000, you pay interest on $20,000. The weekly service fee applies to the full facility from the date of settlement, regardless of drawdown.

No upfront property security is required for facilities up to $150,000. For amounts above $150,000, or where your total Prospa funding exceeds $150,000, property ownership is generally required and a caveat or mortgage may be registered. A personal guarantee from the business owner or director is typically required regardless of the facility size.

An unsecured facility does not require a specific asset (such as property) as security. It is faster to arrange and carries less personal risk, but typically comes with a lower limit and higher interest rate.

A secured facility uses property or other assets as security against the loan. This generally allows for higher limits and more competitive pricing, but means the lender may have a registered interest over your asset until the facility is repaid.

A personal guarantee means that as a business owner or director, you personally guarantee repayment of the facility if the business is unable to meet its obligations. This is standard practice for business lending in Australia and applies to most facilities regardless of size or whether property security is held.

For many applications, a decision can be provided within 1 hour during standard business hours — particularly where bank statements are verified electronically. Applications that require manual document review may take longer. Once approved, funds can often be available the same day.

Required documents typically include:

• 6 to 12 months of business bank statements
• Your ABN and driver's licence
• BSB and account number for your nominated business bank account

No tax returns or financial statements are required for any facility up to $500,000. The only documents required are 6 months of business bank statements, your ABN and your driver's licence.

Once we have assessed your situation and identified the most suitable lender, we prepare and submit the application on your behalf. We liaise directly with the lender throughout the process, handle any follow-up requests for information, and keep you updated at each step. You sign the final loan documents — we do the rest.

For straightforward applications, the entire process from initial enquiry to funds in your account can take as little as a few hours. More complex applications or those requiring additional documentation may take 1–3 business days. We will give you a realistic timeframe once we have reviewed your details.

No. OverdraftMe is a specialist finance broker — we are not a lender. We are a credit representative of Lend & Loan, our parent company. All credit is provided by third-party lenders. Our role is to assess your needs, identify the most suitable lender from our panel, and manage the application process on your behalf.

Lend & Loan is an established Australian finance brokerage based in Barangaroo, Sydney. With over 50 lenders on their panel and more than 10 years of experience, they specialise in home loans, commercial loans, car and asset finance, and business finance. OverdraftMe is a specialist subsidiary of Lend & Loan, focused exclusively on SME business overdrafts and business loans. You can learn more at lendloan.com.au.

No — there is no cost to you. OverdraftMe is paid a commission by the lender when your facility is settled. This means you get access to our broking service, lender matching, and application management completely free of charge. Our fee is paid by the lender, not by you.

Get in touch with our team directly. You can reach us at info@overdraftme.com.au or use our contact form and we'll get back to you within one business day.

Payday Super is a major reform to Australia's superannuation system, taking effect from 1 July 2026. From that date, employers must pay superannuation guarantee (SG) contributions at the same time as wages — every payday — rather than quarterly. Contributions must reach the employee's super fund within 7 calendar days of payday. For a detailed guide, see our article: Payday Super 2026: What Australian Employers Need to Know.

Under the current quarterly system, businesses can hold super obligations in their account for up to 90 days before they're due. That quarterly "float" effectively acts as a working capital buffer. From 1 July 2026, that buffer disappears — super must be paid on every payday. For businesses that rely on that float to manage cash flow, this creates a real working capital gap. See our guide: How Payday Super Will Affect Your Business Cash Flow.

Yes — a business overdraft is one of the most practical solutions for managing the cash flow impact of Payday Super. It gives you a revolving credit facility that you can draw on when a cash flow gap appears (for example, when wages and super are due before client invoices have cleared) and repay when funds come in. You only pay interest on the amount drawn and the days it's outstanding. Check your eligibility with our free calculator.

Under Payday Super, the ATO will monitor compliance in real time through Single Touch Payroll (STP) data. Penalties — including interest and the Superannuation Guarantee Charge (SGC) — will apply from the day after the 7-day window closes, not from the end of a quarter. The compliance model is significantly stricter than the current quarterly system. Missing super payments will be identified by the ATO within days, not weeks.

Yes — Payday Super applies to all Australian employers required to pay the superannuation guarantee. This includes sole traders with employees, small businesses, and medium businesses. There is no minimum employee count. If you employ staff and are required to pay SG contributions, Payday Super applies to you from 1 July 2026.

Multiply your total wages per pay period by the current SG rate — 11.5% (rising to 12% from 1 July 2025). For example, if you pay $20,000 in wages per fortnight, your super liability is approximately $2,300 per fortnight. This amount must be available in your account and initiated for payment on every payday. If you have a commission-based or variable pay structure, the broader "qualifying earnings" base under Payday Super may increase your liability slightly.

Start by calculating your per-payroll super liability and assessing whether you'll consistently have that amount available on payday. Talk to your accountant about payroll software compliance and STP reporting. If your cash flow is tight, consider setting up a business overdraft before 1 July 2026 — it's easier to get approved when your business is in good shape. Check your eligibility with our free calculator.

The primary official sources are the Australian Taxation Office (ato.gov.au) and Treasury (treasury.gov.au). For guidance specific to your business situation, we recommend speaking with your accountant or bookkeeper. OverdraftMe provides general information only and does not provide financial or tax advice.