Business Overdraft

Better cash flow management

Our Business Overdraft is a stand-alone, revolving facility up to $1 million that links to your existing business transaction account.

Our Business Overdraft
comes without a bank

Up to $1 million linked to your business transaction account
Manage cash flow as you need
Only pay interest on funds used
Speak with our business specialists
Business Overdraft limit
Up to $1 million
Interest rate
9.95% – 19.95%
annual percentage rate
$395 annual fee
No early repayment fees
Minimum time in business
3 years+
Weekly and monthly options
avoid lengthy applications

Online application in
less than 5 minutes

All we need is a few business and personal details so we can verify you in real-time, avoiding a lengthy application. Link your bank account and we can service you on the spot.

Get started

Verify your ABN, mobile and Australian ID in real time.
Please Have the following ready:
ABN, Australian driver's licence or passport number and bank account details.

Link accounts

Link your business bank account for a fast decision

Get funded

If approved, get funded within 24 hours

Frequently asked questions

What is an overdraft?

An overdraft facility is a credit agreement that allows an account holder to use or withdraw money. Traditional banking business overdrafts are linked to a business transaction account. The technology behind our Business Overdraft enables the facility to be linked to any Australian banking transaction account.

How does the Business Overdraft work without a transaction account?

We use technology provided by our data partners illion Open Data services (who run a large credit bureau in Australia) to link your transaction banking accounts to your overdraft. It means you can have your transaction banking at the bank that best suits your needs and the flexibility to have your overdraft with Shift. You are also able to move your transaction banking to any bank – simply link your new bank account to your Business Overdraft.

What are the eligibility criteria?

Approval is subject to credit assessment, lending criteria and ID verification. You can only apply for this product if:

  • You have a valid Australian Business Number (ABN) and residential address in Australia
  • Your business is registered for GST and has a turnover of at least $250,000 per annum
  • Your business has been in operation for at least 3 years
  • Hold an Australian citizenship or permanent residency
  • You intend to use the product where the purpose is wholly or predominately for business purposes
  • You have a good credit history
What if I don’t qualify for a Business Overdraft?
We have a range of other lending products including Terms Loans that you may qualify for.
How do I access my overdraft?

Login to Shift Online and securely transact anytime. You can transfer funds from your Business Overdraft to any of your business transaction accounts and can also pay down your Overdraft from your transaction banking account through Shift Online at any time.

Funds transfers are processed on the same day we receive the request, with funds typically available on the following business day.

Can I request an increase on my overdraft limit?

Yes, you can request an increase at any time by calling 1300 249 649 or emailing

How is the repayment amount calculated?

Your Business Overdraft spreads interest payments on a 48 month rolling basis. For example, if you initially draw down $100,000, assuming you are on weekly repayments, your minimum principal repayment amount would be calculated as 0.69% of the principal amount. The next time you draw down on your Business Overdraft, the total principal amount is rescheduled again, with the minimum principal repayments scheduled over a new 48 month period.

This rescheduling occurs every time you draw down and is intended to keep the principal repayments on your Business Overdraft manageable and provide the discipline of regular principal reductions to minimise interest charges.

This differs from a traditional bank overdraft where there are no set principal repayments. Note that the 48 month rolling interest payments calculate a minimum repayment amount. You can choose to make additional payments to your Business Overdraft at any time via Shift Online to reduce your balance and the interest charged.

What is the term of the Business Overdraft?
The Business Overdraft has a 5-year term. However, the facility is uncommitted, and the available limit may be reviewed during the term of the facility.

We are a full member of the Australian Finance Industry Association (AFIA), the leading industry advocate for Australia’s finance sector.

Learn more

Other business finance options

If you’re interested in other finance options for your business, explore our range of solutions below, or call us on 1300 249 649 to discuss your specific needs.
Term Loan
Grow & expand your business
A convenient business finance solution of up to $1 million to support the growth and expansion of your business.
Learn more
Equipment Finance
Get equipped for growth
Free up working capital by financing assets such as green goods, prime movers, plant and workshop, commercial cleaning and medical office equipment.
Learn more
Fitout Finance
Get your space ready for business
Finance a range of business fitout expenses such as shop, factory, warehouse and restaurant refurbs as well as retrofitting existing premises or relocating.
Learn more
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The Adviser - SME Loans under $250k - Broker product of choice
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Financial Review - Fast 100: 2018, 2020
Deloitte. Technology Fast 50 winner
Smart 50 - top 10 winner
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