NAB QuickBiz unsecured business overdraft

A business overdraft (also known as a business line of credit) works in a similar way to a credit card for your business. Your lender approves your business for a specific credit limit. You can withdraw funds as required, up to the limit. You don’t need to use the entire amount at once. In fact, the balance of your business overdrafts is expected to fluctuate. You only pay interest on the amount you borrow. As you repay what you’ve borrowed, the available credit renews, just like a credit card. This means you can use the funds again as needed.

Access your funds instantly on a business day once you have received an approval and accepted your loan application documents in Internet Banking.

You may need to provide a copy of your trust deeds, ATO Online Services Reports and where applicable, personal identification. For all other loan processing, you may also be asked to provide financial information such as bank statements, transaction lists, profit and loss reports and a balance sheet.

An unsecured overdraft uses the strength of your cash flow as security, instead of physical assets. It’s generally approved quicker than a secured loan and is used for smaller amounts. Generally, you won’t have to provide as much information upfront to apply.

Learn more at Secured vs unsecured loans: what’s the difference?

Yes – it’s easy to link your NAB account with your accounting software. This means you can control cash flow while making tax time less stressful. Best of all, it’s available for most accounting packages and is easy to set up.

Learn more about accounting software integration