Tailored
Business Overdraft
Solutions
Protect your business from cash flow shortfalls with automatic overdraft protection. Only pay interest on what you use, with instant access when you need it most.
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We're proud members of leading industry bodies, ensuring you receive professional and tailored financial solutions.
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Finance Brokers Association of Australia
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Australian Financial Complaints Authority
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Access to 70+ business lenders
We work with Australia's leading bank, non-bank and private lenders to find you competitive rates and terms for your business needs.
What is a business overdraft?
A business overdraft is a flexible credit facility that allows your business to withdraw more money than is available in your account, up to a predetermined limit. This provides instant access to funds when you need them most.
Unlike a traditional loan, an overdraft is linked to your transaction account and provides automatic protection against cash flow shortfalls, with interest only charged on the overdrawn amount.
Key Benefits
Discover why a business overdraft could be the perfect cash flow protection for your growing business.
Instant Access
Automatic access to funds when your account balance runs low, without delays or applications.
Pay Only What You Use
Interest is only charged on the overdrawn amount, not the entire overdraft limit.
Cash Flow Protection
Avoid bounced payments and maintain business operations during temporary cash flow gaps.
Flexible Limits
Overdraft limits can be adjusted based on your business needs and cash flow patterns.
No Monthly Fees
No ongoing monthly fees when the overdraft facility is not being used.
Easy Management
Linked to your existing business transaction account for seamless management.
Business overdraft at a glance
Secured vs Unsecured Business Overdraft
Choose the overdraft option that best suits your business needs and risk profile.
| Feature | Unsecured Overdraft | Secured Overdraft |
|---|---|---|
| Security Required | No collateral required | Property or business assets as security |
| Interest Rates | Higher rates due to increased risk | Lower rates from 7.5% p.a. |
| Overdraft Limits | Lower limits - typically up to $50,000 | Higher limits up to $250,000+ |
| Approval Speed | Faster approval process | Longer due to security valuation requirements |
| Risk to Business | No risk to business assets | Risk of losing security if unable to service overdraft |
What are the fees & costs?
Understanding the costs associated with a business overdraft helps you budget effectively. Here are the typical fees and charges.
Common Fees
Interest Charges
Who is it for?
A business overdraft is ideal for businesses that need flexible cash flow protection and instant access to funds.
Don't just take our word for it.
Read what our clients have to say about Splendid.
Sharni
GM, Online Retailer
"Bhavi was incredibly supportive and knowledgeable throughout the process of securing new funding for our eCommerce business. Always available to discuss any questions or concerns, he explained our options with clarity and patience."
Abhi
Owner, Logistics Company
"We are incredibly supportive and knowledgeable throughout the process of securing our business loan. Their expertise made all the difference, and we couldn't be happier with the outcome."
Helen
Director, Software Company
"Excellent service. The whole experience was seamless, fast and easy. Very impressed with how everything was managed, great communication along the way."
Simon
Owner, Marketing Agency
"Bhavi is fantastic to work with and genuinely cares about getting the best outcome for his clients. I highly recommend Splendid for any small businesses looking for finance solutions."
Byron
Founder, Development Company
"Great experience, spoke to me the whole way, got a great deal and never felt pressured at any time, highly recommend these guys."
Sharni
GM, Online Retailer
"Bhavi was incredibly supportive and knowledgeable throughout the process of securing new funding for our eCommerce business. Always available to discuss any questions or concerns, he explained our options with clarity and patience."
Abhi
Owner, Logistics Company
"We are incredibly supportive and knowledgeable throughout the process of securing our business loan. Their expertise made all the difference, and we couldn't be happier with the outcome."
Helen
Director, Software Company
"Excellent service. The whole experience was seamless, fast and easy. Very impressed with how everything was managed, great communication along the way."
Simon
Owner, Marketing Agency
"Bhavi is fantastic to work with and genuinely cares about getting the best outcome for his clients. I highly recommend Splendid for any small businesses looking for finance solutions."
Byron
Founder, Development Company
"Great experience, spoke to me the whole way, got a great deal and never felt pressured at any time, highly recommend these guys."
Sharni
GM, Online Retailer
"Bhavi was incredibly supportive and knowledgeable throughout the process of securing new funding for our eCommerce business. Always available to discuss any questions or concerns, he explained our options with clarity and patience."
Abhi
Owner, Logistics Company
"We are incredibly supportive and knowledgeable throughout the process of securing our business loan. Their expertise made all the difference, and we couldn't be happier with the outcome."
Helen
Director, Software Company
"Excellent service. The whole experience was seamless, fast and easy. Very impressed with how everything was managed, great communication along the way."
Simon
Owner, Marketing Agency
"Bhavi is fantastic to work with and genuinely cares about getting the best outcome for his clients. I highly recommend Splendid for any small businesses looking for finance solutions."
Byron
Founder, Development Company
"Great experience, spoke to me the whole way, got a great deal and never felt pressured at any time, highly recommend these guys."
Is my business eligible?
Check if your business meets our overdraft requirements for approval.
General Requirements:
Documentation Required:
What are the steps involved?
Initial Assessment
We review your banking history and cash flow patterns to determine your overdraft needs and capacity.
Application Preparation
We help you prepare the required documentation and select the most suitable lender for your situation.
Lender Submission
We submit your application to our network of specialist overdraft providers for competitive offers.
Approval Process
Lenders assess your application and we negotiate terms to secure the best overdraft facility for your business.
Facility Setup
Once approved, the overdraft is linked to your business account and ready for immediate use when needed.
Why work with a broker like Splendid?
Access to multiple lenders
Compare offers from ~70 business lenders to find the right deal for your unique needs.
Save time and effort
We handle the application process and negotiate with lenders on your behalf.
Expert guidance
Our experienced team provides personalised advice based on your business needs.
Better outcomes
Higher approval rates and more favourable terms through our lender relationships.
How do I compare overdraft offers from different lenders?
When comparing business overdraft offers, consider these key factors beyond just the interest rate:
Key Comparison Factors:
Additional Considerations:
FAQs
A business overdraft allows you to withdraw more money than is available in your account, up to an agreed limit. Interest is only charged on the overdrawn amount, and you can repay the overdraft at any time to stop interest charges.
An overdraft provides flexible access to funds as needed, with interest only on the amount used. A business loan provides a lump sum with structured repayments over a fixed term. Overdrafts are better for short-term cash flow management.
Once approved and set up, overdraft facilities provide instant access to funds. The approval process typically takes 5-10 business days, depending on your business profile and documentation.
Yes, overdraft limits can usually be reviewed and increased based on your business performance and cash flow. Most lenders offer annual reviews or allow requests for increases as your business grows.
Exceeding your overdraft limit may result in excess fees (typically $35 per occurrence) and potential transaction declines. It's important to monitor your account balance and communicate with your lender if you need a temporary increase.
Most overdraft facilities don't have minimum terms and can be cancelled at any time. However, check your specific agreement as some lenders may have early exit fees or minimum periods.
Accelerate your business growth.
Get your personalised business overdraft quote today and discover how we can help your business grow. Join the hundreds of Australian businesses we've helped secure funding.