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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

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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.

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.

108+ customer reviews

5.0

MAV

MAV

Incredible and professional service with very quick turnaround for a commercial loan. Saroj was great to deal with and assisted along the way, and was very clear about our options and constantly kept us updated with progress. Highly recommended.
Chi Morris

Chi Morris

Dear Sas, I want to express my heartfelt gratitude for your efficiency and the exceptional support that you have provided in helping me meet my business needs. It was always easy to deal with you and you were always available to answers every question. I was also quite impressed by your professionalism and efficiency which were quite exceptional. Thanks for going above and beyond to deliver an outstanding service. I look forward to working with you again in the future.
VINEET PASARNIKAR

VINEET PASARNIKAR

Saroj your service is Amazing I am very happy Anand recommend all my friends and colleagues. Your staff also very good. Very fast & good options available.
Toni Speakman

Toni Speakman

I don’t usually post reviews on the internet, but I feel compelled to write one about our recent experience with Broc Finance. In particular, we’d just like to thank and recommend Neeraj, who has been extremely professional, quick to get back to us regarding information and has exceptional easy-going language so we could understand what was happening and what we needed to do. He endeavoured to get the help we needed in a very short amount of time and the funds were in our account within 2 weeks of applying. Neeraj managed to secure our loan at a much lower interest than the big banks and we would recommend Broc Finance - especially Neeraj, to anyone who is seeking financial assistance away from the big greedy banks. This is the 2nd time we’ve used this service, and it won’t be the last. Thank you.
Ibrahim Alpay

Ibrahim Alpay

I highly recommend Saroj to anyone needing business funding. He’s helped me multiple times with fast and efficient service, securing higher than-expected loan amounts each time. Excellent experience!
Min Wilson

Min Wilson

The team delivered a well structured and highly supportive service that made the financial process feel streamlined and well governed. Each step was clearly defined, proactively explained. The overall outcome felt both efficient and value-aligned.
shephali jain

shephali jain

very professional and knew what we wanted and gave us the best services. we happy with Saroj service and he knew what he was providing and alway on the phone when we need him . thanks for a smooth professional deal.
Deepesh Parikh

Deepesh Parikh

Saroj knows his business. To the point guidance, everything from start to finish was as expected and confirmed by him. Always recommend him for sorting it your personal or business finances. Thanks a lot for all your help Saroj.

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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.

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