Overdraft Facilities

With Better Moneys expertise in business lending we can provide your business with the financial flexibility it needs to thrive. Whether you need to cover payroll, purchase inventory, or bridge gaps in your cash flow, our overdraft options are there to support you.

Overdraft facilities: Keeping your business finances flexible

In the dynamic world of business, having financial flexibility is key to navigating uncertainties and seizing opportunities. That’s where overdraft facilities come into play. At Better Money, we understand the importance of maintaining a robust financial cushion for your business. Let’s explore how overdraft facilities can keep your business finances flexible and ready for whatever comes your way.

Introduction to overdraft facilities

A lifeline for your business

An overdraft facility is a financial arrangement that allows your business to withdraw more money than is available in its bank account, up to an approved limit. It serves as a safety net, helping your business cover unexpected expenses, manage cash flow gaps, and make essential payments when needed.

Why choose an overdraft facility

Overdraft facilities offer several advantages, including:

Immediate access: Funds are available when required.
Flexible repayments: You only pay interest on the amount used.
Cash Flow management: Helps bridge temporary financial gaps.
Safety net: Provides reassurance that you have funds if required

Why choose Better Money for overdraft facilities?

Your partner in financial flexibility

Better Money is your BETTER choice for overdraft facilities, and here’s why:

Specialized expertise:

We understand the nuances of business finance.

Easy 90 second online application:

Our user-friendly application process is designed to save you time and hassle, with a quick online form that takes just 90 seconds to complete.

Personalised Solutions:

Tailored overdraft facilities to match your unique requirements.

Access to over 40 Lenders:

We leverage our extensive network of lenders and can identify specialists in overdrafts, ensuring you always get a BETTER option.

Keeping your business agile

With Better Money, you’ll have the financial agility needed to steer your business confidently through changing circumstances. We can discuss your goals and present you with alternate options that may suit your needs and requirements.

How overdraft facilities work

Understanding how overdraft facilities work is essential:

Your business applies for an overdraft facility.
Upon approval, you gain access to a predefined credit limit.
You can withdraw funds as needed, up to the approved limit.
Interest is charged only on the amount used, and you can repay at your convenience.

Key features and benefits

Your financial safety net

Overdraft facilities come with essential features and benefits, such as:

Predefined credit limit: Set a maximum amount that suits your business needs.
Competitive interest rates: Enjoy cost-effective borrowing.
Flexible repayments: Repay the borrowed amount on your terms.

Adaptability in action

Overdraft facilities offer:

Peace of mind for managing unforeseen expenses.
A financial cushion during lean periods.
Confidence to capitalise on business opportunities.
A back up for seasonal businesses when demand is low

Common uses of overdraft facilities

Versatile solutions for your business

Overdraft facilities can be used for various purposes, including:

Covering short-term operational expenses.
Managing unexpected bills and payments.
Seizing time-sensitive business opportunities.

Discover how an overdraft facility can add flexibility to your business finances.

Eligibility Criteria

Who qualifies for an overdraft facility

Eligibility for an overdraft facility may include:

Proof of business ownership and registration.
A minimum business operating history (Usually at least six months)
Minimum turn over requirements dependent on overdraft amount you are seeking

Our team at Better Money can guide you through the eligibility process.

Application Process

Navigating the application journey

Applying for an overdraft facility with Better Money is straightforward:

Start by completing our 90 second online application.
Define your desired credit limit and usage expectations.
Let us navigate the lending landscape to provide you with BETTER options
Once approved, you can access funds as needed, up to the limit.

We handle it, so you can get on with it!

Don’t let unexpected expenses or temporary cash flow challenges disrupt your business operations. With Better Money’s network of over 40 lenders and finance expertise, you can confidently manage your finances and focus on what matters most – growing your business.

Call 1300 664 681