Home » Business overdraft
Business overdraft
- Better manage cash flow
- Only pay interest on what you use
- No formal repayment structure

Key takeaways
Low doc options
Only pay interest on what you use
Up to 5 years terms for peace of mind
What is a Business Overdraft?
A Business Overdraft is similar to a Business Line of Credit – giving business owners a safety net to better manage business finances. It is typically a revolving line of credit that is attached to a business transaction account, allowing funds to be drawn if and when needed, up to an approved limit. It does not typically come with a formal repayment structure, and is usually used to assist in managing business cash flow.
Common reasons you might benefit from a Business Overdraft:
- You’re working on a long-term service or product delivery, and payment will not be received until it is completed or delivered.
- Your customers are delayed in paying you, affecting short term cash flow
- You experience seasonal or fluctuating revenue
- You need to purchase inventory in order to generate revenue
- You need capital for short term investments to grow revenue
Eligibility for a Business Overdraft
To be eligible for a Business Overdraft, you generally need to:
- Have an active ABN and GST registered
- Have been trading for more than one year
- Have an average monthly turnover of $10k +
Other criteria will likely apply as well, depending on your current situation and needs. Book a meeting with our expert team to talk through your requirements and timeframes, and we can work out the best way for you to move forward.

Nadine Connell
Business Finance Expert
A quick guide to Business overdraft
(Disclaimer) – this information is general in nature. Talk to our lending specialists for specific information tailored to your unique needs.
Amount
Any depending on eligibility
Interest rates
Varies based on credit history
Loan terms
Up to 60 months
Pre-approval
Depends on loan complexity
Starting from 48 hours
Repayments
Can be daily, weekly or monthly in terms of fee charge for drawdown; amortised over an agreed time period.
Approval & settlement
1 -3 days (can vary by lender)
Security
Can be unsecured or secured depending on your situation and priorities.
Documentation needed
- Proof of identity (low doc)
- 6 months bank statements (low doc)
- Business financials (sometimes)
- Cash flow projection (sometimes)
We get you the best business finance
from our marketplace of 60+ lenders


































Not just your business finance broker.
Your business partner for the long haul.
Over the past 15 years Nadine and Chris have had the privilege to help more than 3,300 Australian business owners realise their business goals.
Everyone’s situation and needs are unique. That’s why we offer personalised business finance brokering and planning services, designed to ensure you get the right type of business finance with the best rates and terms possible.
What’s more, as our client you’ll also get access to all the experience and knowledge of our team – helping you succeed long term. Together.

Key benefits of
Business overdraft
What can
Business overdraft
be used for?
How it Works

1. Talk to us
Share your goals with our lending experts.
2. We get to work
We negotiate with our network of 60+ lenders


3. You choose the best loan
We help you apply for the loan that best fits your needs.

Avoid these mistakes if you want the best Business overdraft
Some business owners aren’t aware that interacting directly with lenders could harm their chances of getting a business overdraft..
Here are some common mistakes to avoid:
- Applying with multiple lenders directly
- Allowing multiple credit checks in a short period of time
- Not being honest or omitting important information
- Asking for more than is serviceable
- Being unprepared – no cash flow or financials
Making these mistakes could mean you aren’t able to get a business overdraft at all, or only one with poor rates and terms. This is why it’s so beneficial to work with us. We partner with you and help you avoid these mistakes so you get the best outcomes possible.

Frequently asked questions
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Do you provide the business overdraft directly?
As business finance brokers, we work for you to find the best loans from our marketplace of more than 60+ lenders which included the big four banks like Westpac, CommBank, ANZ and National Bank, to regional and niche lenders like BOQ, JudoBank, Pepper Money, Scotpac and many, many more. We don’t offer business loans directly ourselves.
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Why use Smart Business Plans instead of just going to my bank directly?
There are many benefits to working with us over your current bank, including:
Better options. Your bank can only offer you their own lending products. We can get the best lending products from almost all the lenders on the market, including loan types you may not have even considered, but may be a better fit than a traditional loan.
Massive time savings. For you to connect with every lender and find the best lending products for your unique circumstances would take months of hard work. We can do that for you.
Better rates and terms. Even if you end up going for a loan with your current lender, we can sometimes negotiate terms and rates for you that are better than what you could get yourself.
Experience. We work for you, not the bank. We present your interests, sharing our experience, expertise and advice along the way, so you get the best possible outcomes.
It’s our goal to have you become a life-long Smart Business Plans customer.
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How much does it cost to use your services?
Our initial consultation calls are free. Our business loan and asset finance brokering services are generally free, as we are compensated by the business lender. In some unique situations if a fee for our services was required, this would be communicated to you in advance, and you’d have the opportunity to consider if you’d like to move forward or not. We will never impose a fee or cost for our services that are not communicated to you up front.
We also offer our clients the option of having us support your business loan application by writing your bank loan business plan and cash flow projections (when required by the lender). The fee for this service will be provided if you choose to select this option.
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Why use Smart Business Plans versus a mortgage broker?
Most mortgage brokers have little to no experience in business management, planning or finance. They simply don’t have the knowledge to understand how business loans are unique and different to a consumer home loan, and often struggle with some of the complexities that come with commercial lending.
We specialise in business lending – that’s 100% of our focus and expertise. We have a significant network of business lenders, lending agents, and business professionals such as lawyers, accountants, business brokers, business advisors and consultants that our clients can tap into as needed.
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How do I apply for an unsecured business loan?
Easy! The best thing to do is have a Zoom or phone chat with us. From there we can work together to get your business funding if there’s good alignment between what you need, and what we do.
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What if I have a bad credit history?
There are lending options for people that have run into credit score issues in the past, especially if there is a sufficiently valuable asset (like property) to secure the loan, as well as sufficient business cash flow for serviceability.
Talk to our team expert lending team to see if you’re eligible.
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What if I have another question?
Have a question? Just ask!
One of our lending specialists will be in touch
