Unsecured Overdraft
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UNSECURED OVERDRAFT FACILITY
LOW DOC SOLUTIONS
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WHAT IS AN UNSECURED OVERDRAFT?
Also known as a revolving line of credit, an unsecured business overdraft is a working capital solution for businesses of all sizes. It gives you instant access to cash so you can support your clients and grow your business.
Whether you are in urgent need of funds or wish to create a safety net for the future, take action today to secure an overdraft facility so you have additional funds to hand.
PURCHASE MATERIALS, GOODS & EQUIPMENT
When you have an unsecured overdraft facility, you can immediately access the cash you need to buy the supplies that will help your business grow.
PAY STAFF AND CREDITORS
Plug your cash flow gaps while you wait to be paid with the help of an unsecured business overdraft.
ACCESS TO ALL INDUSTRIES
Construction businesses, retailers and many others can leverage the benefits of a revolving line of credit.
SECURE CREDIT BEFORE YOU NEED IT
An unsecured overdraft can be a cost-effective way to add a layer of ‘insurance’ and have money to hand in the event of an emergency.
WHY CHOOSE AN OVERDRAFT FACILITY FROM DARK HORSE FINANCIAL?
At darkhorsefinancial.com.au, we are experts in commercial finance and business, and we specialise in helping businesses to rapidly obtain unsecured business funding.
You don’t need to own property to qualify. Our product accommodates low-doc applications with limits of up to $500,000.
The process to apply takes minutes and approvals can take place on the same day, with the funds made available within 24 hours of your application.
THE BEST OVERDRAFT SOLUTION IN AUSTRALIA?
An unsecured overdraft from darkhorsefinancial.com.au offers:
- One of the most cost-effective overdrafts you will find
- The benefit of no establishment fees (which can save you thousands.)
- A $500,000 limit
- No line fees or management fees
- Interest paid ONLY on the money you draw down on
- Fast application and approval process
EIGHT REASONS TO APPLY TODAY
- A much faster approval process than a bank
- Low doc: no financials required for applications up to $500,000
- You can still apply if your business has been declined by a bank
- Genuine line of credit with a 5-year term
- Limits can grow as business turnover grows
- Limits up to $1M
- Personal support from a lending industry professional
ABOUT DARK HORSE FINANCIAL
Whether your business is struggling to find its feet financially or looking for capital to take on growth opportunities, darkhorsefinancial.com.au is here to help.
We don’t just provide business loans, we take the time to fully understand your business and your goals. Once we have a deep understanding of your needs, we will tailor a finance strategy to maximise success.
UNSECURED OVERDRAFT FAQ
A revolving line of credit is a credit account with a pre-approved limit of credit. You can borrow any amount up to the limit you like. As you make repayments and lower the balance, your available credit is your limit minus any outstanding balance.
This is a fast and easy cash flow solution for businesses of all sizes.
See more: Supporting the business case for an unsecured line of credit.
The benefit of an overdraft is that it is there when you need it and there is no expectation to draw down on it each month. Your business overdraft facility will not be withdrawn if you don’t use it, but there may be ongoing fees involved.
Many businesses establish an overdraft before they need it so they can have the money there in the event of an emergency. If you want to follow this strategy, seek out an option with no establishment fee and minimal annual costs.
The funds from your overdraft can go towards:
- Smoothing out poor or lumpy cash flow
- Paying staff, suppliers and bills while you for payment from clients
- An alternative solution to credit from a bank or major lender
- Paying down your business tax bill
- Purchasing goods, materials or equipment
- Insuring your business against future cash flow shortages (it’s always easiest to secure credit when you’re not under financial pressure and doing so can cost you very little)
If you clear your overdraft balance down to $0, your full credit limit will be available for when you next need it. For some overdrafts, you could be charged a line fee which will be a percentage of the limit. For this reason, it’s important to consider how much you intend to use your overdraft and what fees are payable along with interest to understand which is the best solution for your business. darkhorsefinancial.com.au can help you decide whether an overdraft facility is right for you.
It depends on the lender but generally no fees apply if you pay the balance of your overdraft in full.
Typically banks will require property security as collateral for their credit facilities and this includes lines of credit like an overdraft. An unsecured overdraft does not require property security with limits available to those who do not own property and property owners who choose not to have a mortgage over their property as part of the overdraft.
Yes. Provided an application is approved, arranging an unsecured overdraft facility through darkhorsefinancial.com.au will not prevent other forms of business loans from being approved as well.
darkhorsefinancial.com.au’s unsecured overdraft includes an annual fee of $495 for limits up to $100,000 and $795 for limits over $100,000. There are no establishment fees, line fees or management fees.
UNSECURED OVERDRAFT CASE STUDY
The client:
Our client ‘A/B Construction Products’ (name is withheld for privacy reasons) recently came to darkhorsefinancial.com.au seeking $300k in unsecured overdraft with no financials, no line fees, no establishment fees and no history of positive responses from lenders.
The challenge:
A business supplying products to the construction industry, the client was experiencing long waits for accounts to be reconciled. Although its financial position was strong, it wanted to secure a line of credit as insurance.
The solution:
Our fast unsecured business overdraft solution was a perfect fit as there were no charges to establish the revolving line of credit and interest is only charged on funds drawn. An application was placed and the overdraft facility was established in 48 hours.
The outcome:
The client made a smart move by applying for a small business line of credit before the need for it actually arose. This is because credit is generally cheaper to secure when the need is not urgent.
GIVE YOURSELF PEACE OF MIND ABOUT CASH FLOW
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HereDisclaimer: Loans and loan products are to approved applicants only. Rates, fees, policy and inclusions are subject to change without notice. As such no guarantees or warranties are made about the accuracy of the information on this page.
Nationwide Unsecured Business Overdraft Services in Australia
darkhorsefinancial.com.au extends unsecured business overdraft solutions across Australia, offering essential financial solutions to businesses of all sizes. Our unsecured business overdraft services are tailored to meet the diverse needs of businesses. With a comprehensive range of business loan options and flexible terms, darkhorsefinancial.com.au is committed to delivering top-tier unsecured business overdraft solutions. Our business loan services are accessible across various locations in Australia, including Melbourne, Brisbane, Sydney, and throughout Queensland, ensuring accessibility and convenience for our clients.