Low Doc approvals up to $250,000

Loan term up to 5 years

Flexibility and Control

Interest only on Utilization

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What is Business Overdraft?

A business overdraft is a cash flow buffer in the form of a credit line with no restrictions on number of withdrawals or repayments. One can use this limit as per their business requirements with a convenience to pay off whenever they can without any penalty and no interest gets charged after that. The interest is levied on daily outstanding balance of the overdraft facility and not the entire limit. 

 A business overdraft is popularly used for:

  • Working capital management
  • Inventory purchase
  • Funds for business development
  • Business expansion expenses

Eligibility

The eligibility for business overdraft is determined by the following factors, which demand you to have:

  • Business trading for at least 12 months
  • A minimum monthly turnover of $10k
  • GST registered business.

What you should know about Business Overdraft

Have questions? Speak to our experts!

What kind of Businesses Apply for Business Overdraft?

Different kinds of businesses can benefit from this type of business financing. In Australia, the enterprises from the following industries commonly apply for a business overdraft.

  • Wholesalers
  • Retailers
  • Manufacturing industry
  • Food and beverages
  • Professional services
  • Automotive industry
  • Technology

You can either apply for a secured business overdraft or an unsecured business overdraft. A secured business overdraft would need a business owner to provide an asset as security to secure a better loan term while unsecured business overdraft doesn’t need any collateral.

Why Seek Business Financing through Business Overdraft?

The following reasons are why business entities apply for a business overdraft:

  • It facilitates a flexible business line of credit against the transaction account.
  • A business overdraft allows a business owner to pay off the loan as per convenience if it is within the approved credit limit.
  • The unsecured business overdraft allows loan approval without any security.

All these tried and true reasons make business overdraft a favorable choice for business financing for enterprises, especially the SMAs in Australia.

When to Use a Business Overdraft?

We recommend you to apply for a business overdraft under the following or similar circumstances:

  • When you are working on a long-term project, where payment will arrive after the completion of the entire thing.
  • Even though your sales patterns are typically seasonally, you still need to pay the employees and manage the inventory for the whole year.
  • Your customers cannot clear the invoices on time, causing you to apply for a business overdraft to replenish the cash flow.
  • New business owners require cash to cover operational expenses before they start generating profits.

How Can It Benefit Your Business?

There are multiple benefits to business overdraft, such as:

  • The business owner gets fast access to funds, enabling seamless management of expenses and payments.
  • A steady cash flow facilitates business expansion and growth.
  • Access to funds, allowing the business owner to pay the outstanding bills without waiting for the clearance of pending invoices.
  • With a steady cash flow, the business owner can pay the suppliers on time. It allows them to negotiate better payment terms and discounts.
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Why should you choose Broc Finance?

Tailor made options

Being a small business owner, many of our clients are not sure of right loan product for their businesses. Our lending specialists understand their needs and recommend tailor made options.

Personal Consultation

Unlike business loan marketplace websites which use AI based algorithms to match your requirements, we provide obligation free personal consultation as every business is different and an AI based algorithm may not provide them the optimum solution.

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Competitive Pricing

We endeavour to achieve the optimum business loan solution for our clients at the most competitive pricing possible.

Clear communication

We understand the essence of time so don’t believe in wasting our customers time by giving false hopes. Transparent and clear communication is in our DNA.

Real results with real people.

Milan shrestha

Milan shrestha

I had an outstanding experience working with Aditya and Saroj( Broc Finance)! From start to finish, the process was seamless, professional, and stress-free. They took the time to understand our needs and provided us with a range of options that suited. Their communication was clear, prompt, and transparent, making the entire process straightforward.
John Christian

John Christian

Broc Finance were a pleasure to work with. Saroj took the time to understand the purpose for the facility and my business. In doing so, he secured exactly what I wanted, quickly and at a very competitive rate. I’d recommend Broc Finance to anyone looking for a finance facility who wants to work with a broker who can provide that personal experience that the Big-4’s just don’t offer. Great experience!! I look forward to working with Broc Finance in the future.
rupali bibra

rupali bibra

Our company had an amazing experience with this company. We are so pleased with the service received from Mr Saroj. He went above and beyond to help us get out of the situation. We would highly recommend Mr Saroj who has wealth of knowledge and experience. His expertise in the finance industry assisted us to gain that financial freedom. Our case wasn’t easy and straightforward and took long six months to achieve our goals . Thanks for all the hard-work and patience while assisting us. Communication was so concise and clear . Always proactively communicating with us . Overall it was 7 star service .
Mathew John

Mathew John

Saroj and Aditya and the company are very professional and they have access to various lenders and institutions. It’s a one stop shop for all your financial needs and the speed, commitment and service is next level . Highly recommended
Simer Mayo

Simer Mayo

Having worked with the team at Broc Finance in the past, I found them extremely professional and very informative, there has been occasions where we were unable to get an out come and both Adi and Saroj were clear.
Vivian Escudero

Vivian Escudero

Exceptional service from start to finish! The team was fast, responsive, and made the entire process seamless, ensuring I felt supported every step of the way. I couldn’t recommend highly enough!
Harry Gill

Harry Gill

It was Great to work with Saroj. He was very accomodating and helpful . The process of the loan was very simple and easy. Saroj kept me updated at every step. Highly Recommend Saroj . Harry
Niteesha Nagowah

Niteesha Nagowah

We had an incredible experience working with Saroj from Broc Finance. He is incredibly knowledgeable, responsive, and guided us through the purchase of our company vehicle with expertise. The attention to detail and commitment to finding the best possible options truly set him apart. Highly recommend his services for anyone navigating the complexities of obtaining a finance. Thank you again for outstanding assistance.

Have questions? Talk to a specialist!

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Frequently asked questions

Yes, the lenders can increase your limits on reassessment of your application. You can just get in touch with us, and we can get it sorted in no time.

The interest rate varies in each case and will depend on various factors like the business trading time, industry, banking, credit history etc. Please contact us and our experts will be able to run you through an obligation free indicative quote without leaving any trace on your credit file.

We offer business financing solutions to clients on basis of low documentation and bad credit history. Reach out to us to know the details regarding the same.