We help you compare and secure the right overdraft to manage your cashflow gaps, without the legwork.
✅ Borrow from $5,000 to $250,000
✅ Only pay interest on what you use
✅ Instant access from your transaction account
A business overdraft is a revolving credit facility attached to your everyday business bank account. You can draw on it whenever your balance drops below zero — up to a pre-approved limit.
It’s designed to help manage short-term cash flow gaps like delayed customer payments, seasonal dips, or unexpected expenses.
With a business overdraft, you only pay interest on the funds you use.
At Splendid, we help you compare offers from multiple lenders to find the right overdraft for your unique business situation.
✅ Ongoing access to extra funds without reapplying
✅ Interest only charged on the amount used
✅ Linked directly to your business bank account
✅ Great for smoothing cash flow during revenue dips
✅ Unsecured up to $100K
✅ No early repayment or usage penalties
✅ Businesses with fluctuating monthly cash flow
✅ Businesses impacted by slow customer payments
✅ Companies with seasonal income
✅ Businesses with stable turnover that need backup capital
✅ Businesses looking for flexible, short-term access to funds
You’re likely to be eligible if:
✅ You’ve been trading for at least 6–12 months
✅ Your business turns over at least $100K annually
✅ You are an Australian citizen or permanent resident
✅ You hold an active ABN or ACN
✅ You can share business bank statements and/or financial statements
📌 Not sure if you qualify? Let’s talk — we’ll guide you through your options.
Let us help you find the right overdraft for your business — with support from real lending experts.
Business overdraft costs vary depending on the lender and your business profile. Rates and fees are set by each lender, and we’ll walk you through all your options before you make a decision. Here’s what to expect:
Interest rates: Only charged on the amount drawn. Rates range from 15%–22% p.a.
Setup fee: Typically 2%–3% of the overdraft limit.
Monthly fee: Some lenders charge a fee (e.g. 1%–2%) for keeping the facility open, even if unused.
Early repayment penalty: No.
If you have business overdraft offers from more than one lender, deciding which one is the best fit for your business comes down to more than the headline interest rate. You need to take into account the following details in reaching your decision:
1. Upfront application / establishment fees
2. Ongoing facility / account fees
3. How many months/years the facility will last
4. Repayments structure and timing
5. Ease of repayments
6. Level of security required
7. Amount of documentation required
8. Time to approval and funding
We do all the legwork for you — comparing offers, negotiating terms and helping you make a confident decision.
1️⃣ We assess your needs and gather your business profile information.
2️⃣ If you decide to proceed, we send you a Personal Privacy Consent for signature then ask you to provide required documents such as bank statements and financials.
3️⃣ We analyse your business performance and shortlist the right-fit products and lenders based on your goals and profile.
4️⃣ We structure & present the deal to matched lenders for pre-approval.
5️⃣ Once we obtain pre-approval(s) we will discuss the available options with you in detail.
6️⃣ You choose the option you're happy with and we will kick-off a formal overdraft application with the lender.
7️⃣ If the lender approves the overdraft, they will send you the rates and key terms
8️⃣ If you are happy with the lender's offer, you sign the loan documents they send you
9️⃣ You can draw down funds from the overdraft facility whenever you need them.
They’re very similar — both offer flexible, reusable access to funds. The key difference is that an overdraft is linked directly to your business transaction account, while a line of credit is usually a separate account or online portal. Overdrafts are better for passive, occasional use; lines of credit often come with more flexible drawdown and repayment options.
Yes — overdrafts are designed to be flexible. You can repay the balance at any time without penalty, and many lenders allow you to close the facility when it’s no longer needed. Just keep in mind that some lenders may charge a small fee for account closure if the facility is active for less than a few months.
Many lenders offer unsecured options up to around $100K. Some may require a director guarantee.
No — not unless you link the facility to your bank account or provide access during application. Many alternative lenders offer overdraft-style facilities that operate independently of your main bank account. We’ll help you choose an option that fits how you want to manage funds.
Not necessarily. Some lenders charge a line fee if the overdraft goes unused for a long period (usually a percentage of the limit), but others do not. If you expect to only use it occasionally, we can recommend lenders that don’t charge inactivity or line fees.
Many lenders offer unsecured options up to around $100K. Some may require a director guarantee.
You could be approved and funded within 1–2 business days. So the faster you can provide the required information and documents the faster you will get a decision from the lender.
We do not perform credit checks. However, lenders we present your deal to may conduct soft credit checks. If you choose to proceed to an application with a particular lender, the lender will run a full check.
Let us help you find the right overdraft for your business — with support from real lending experts.
