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Business Overdraft

  • 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 levies 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.
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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.
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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.
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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.
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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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How Can Broc Finance Help?

Broc Finance is one of the fastest growing finance brokers in Australia, with a demonstrated history of facilitating business financing solutions, including business overdrafts. Our team comprises experienced professionals who help you connect with the top lenders across Australia, owing to the robust network that we have built over the years. We offer customized financing solutions to clients, after doing a quick assessment of the business types and objectives.

What makes us stand apart from the rest?

  • We devise solutions that help businesses grow and flourish, despite their capital limitations.
  • Our team offer tailored financing solutions to fit the needs of the enterprise.
  • We have reliability attached to our reputation, owing to the years of service.
  • You can expect flexible loan terms and a fixed interest rate favorable to your financial obligations.
  • We ensure that the client gets the best loan product available as per specific business requirements.
For more information, do not hesitate to reach out to us for expert consultation.
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What Our Clients Say

Excellent
Based on 46 reviews
Ajay Kanumuri
Ajay Kanumuri
2024-01-10
I would strongly recommend. Saroj Shah helped to get my loan with in span of three days. He was very supportive and clearly explained the loan process.
Abhishek Chhugani
Abhishek Chhugani
2023-11-02
Wonderful service by Saroj. Took care of my requirements for business loan. Turnaround time from application to disbursement was 2 days.
Atulkumar Patel
Atulkumar Patel
2023-10-26
I don't want to miss this opportunity to say About Saroj Work that he just made it impossible job into possible , I have got loan of 1.5 million event though I have very low credit score . Great work , and highly recommend for any kind of loan issues.
jas singh
jas singh
2023-09-28
Great services, great effort by Saroj.
Michael Banabakis
Michael Banabakis
2023-09-14
Easy to deal with and nothing was a problem!!
Liesel Collings
Liesel Collings
2023-09-05
The broker was super helpful and understanding. He knew I needed the loan in a rush and got me the best deal possible.
Aghar Tefera
Aghar Tefera
2023-07-12
Fantastic service!! Very nice & helpful staff!! I had the best experience and got things done promptly and professionally! Thank you Broc Finance 😊!!
Nejatali Rotivand Ghiasvand
Nejatali Rotivand Ghiasvand
2023-07-07
Very professional and always there to help you
Khanyi Moyo
Khanyi Moyo
2023-07-07
Thank you. This was a great experience with a team that takes time to ask what your needs are then help you find the best deal.
Mai Yang
Mai Yang
2023-05-25
Absolutely wonderful service! Saroj was amazing with keeping us up to date with our loan application which was approved quickly without any hassle. I would definitely recommend Broc Finance!
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FAQ's About Business Overdraft

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 basis low documentation and bad credit history. Reach out to us to know the details regarding the same.  

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Credit Representative number 540795 is Authorised under Australian Credit Licence Number 389328

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