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Keep your business moving

Running a business comes with its fair share of ups and downs, and sometimes you just need a little breathing room. Our Business Overdraft is designed to help you stay on top of your cash flow, so you can focus on what really matters: growing your business and supporting your customers.

With flexible access to funds and competitive rates, our overdraft facility gives you the confidence to keep things running smoothly, even when the unexpected hits. Whether it’s covering short-term expenses or managing seasonal fluctuations, we’re here to help you navigate it all.

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Our Business Overdraft benefits

Easy banking

Manage your account anytime, anywhere with our online and mobile banking platforms. Or bank direct with us, in-person or on the phone.

Easy banking

Simple repayment

Repay your overdraft limit at any time. Any amounts deposited into the account will be utilised to repay the overdraft drawn.

Simple repayment

Flexible overdraft access

Tap into extra funds when needed, straight from your Business Plus transaction account – helping you manage cash flow with confidence.

Flexible overdraft access

Business suite

Make our business overdraft facility part of your business suite along with our other business solutions.

Business suite

Our business overdraft facility to keep you going

Be prepared for the unexpected and keep your business moving with our Business Overdraft facility

Secured Variable Rate ^

7.75
%
p.a

Establishment Fee 1

$
699

Annual Fee 2

$
250

^Advertised rate available to >80% LVR residentially secured. Interest will be charged on the portion drawn. 1Minimum of $699 or 0.25% of your Loan Limit. The greater of the two is applicable. 2Annual fee is payable whether the facility is utilised or not. All rates available for new business only and are subject to change without notice. Credit eligibility criteria, terms and conditions, fees and charges apply and may change without notice. Products issued by Southern Cross Credit Union Ltd ABN 82 087 650 682. AFSL and Australian Credit Licence 241 000.
All Interest Rates Fees & Charges

Business Overdraft Loan Amount

  • Min. Business Overdraft: $20,000 with a maximum limit depending on the value of the residential or commercial security you provide.

Loan-to-Value Ratio (LVR)

  • >80% (Based on residential or commercial security)

Loan Terms

  • Ongoing.

Repayment Options

  • Any amounts deposited into the account will be utilised to repay the overdraft down.

Fees & Charges

  • Establishment Fee: $699 or 25% of your loan amount. The greater of the two is applicable.
  • Annual Fee: $250 payable whether the facility is used or not.
  • Monthly fee: $0

Applying for a
Business Overdraft

Applying for a Business Overdraft is easy. Contact us on 1300 360 744 and our team will walk you through the process. To get prepared, here is some information on our common application requirements.

Contact Us to StartIs this product right for me?
  • 1+Eligibility Criteria

    +Eligibility Criteria

    To hold this product customers will need to satisfy eligibility criteria, including that the customer must:

    • Be a sole trader, partnership or company.
    • Be registered in Australia and have an Australian residential address.
    • Meet SCCU credit assessment criteria which includes demonstrating the capacity to service the credit facility.
    • Provide sufficient security, including acceptable residential or commercial property.
    • Have building insurance with SCCU noted as an interested party to a minimum amount equal to the building value.
  • 2+Sole Trader

    +Sole Trader

    A Sole Trader is a self-employed person who is an exclusive owner of a business, entitled to keep all profits after tax has been paid but liable for losses.

    Types of Information and ID Required:

    • Business name & Australian Business Number (ABN).
    • Reliable and independent documentation, e.g driver licence, passport.
  • 3+Partnership

    +Partnership

    A Partnership is an association of individuals or entities for the purpose of carrying on a business venture or business activity in common with a view to profit.

    Types of Information and ID Required:

    • Full name of the partnership trading name.
    • Registration Status.
    • ABN Number.
    • Reliable and independent documentation, e.g driver licence, passport.
  • 4+Company

    +Company

    A Company is a separate legal entity capable of holding assets in its own name.

    Types of Information and ID Required:

    • Full Registered name of the Business.
    • ASIC Registration, including the companies ABN & ACN.
    • ABN search relating to the business.
    • Reliable and independent documentation, e.g. driver licence, passport.
  • + Important Information

    Products issued by Southern Cross Credit Union Ltd ABN 82 087 650 682. AFSL and Australian Credit Licence 241 000. Any advice given is of a general nature only and is not based on any consideration of your objectives, financial situation and needs. To decide if a product is right for you, please refer to the Summary of Accounts, Access Facilities and Transaction Limits. Eligibility criteria, fees and charges, terms and conditions apply. To help you better asses if these products are right for you please reach out to our team or read through our Target Market Determinations (TMD), designed to help you make an informed decision that is consistent with your objectives, financial situations and needs.

    Important: Available for new business only. All rates available for new business only and are subject to change without notice.

    Business Overdraft
    *Advertised rate available for residential security.

Enjoy a complete business banking suite with SCCU

Manage all your business banking in one place with our popular add-ons.

best business transaction accounts

Business Plus

Add a Business Plus transaction account to give your business the everyday flexibility it needs with easy access to your money when it matters most.

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best online business transaction accounts

Business Star Saver

Put your surplus funds to work with a Business Star Saver account. An easy way to earn interest while keeping your savings within reach.

Learn More

Business Integrations

Our Business Plus account connects directly with Xero and MYOB, and pairs perfectly with Square POS, giving you a streamlined setup from sales to reconciliation.

Learn More

Local business drives local progress. That’s why we back yours – with lending that’s practical, flexible, and supported by people who listen.

Business Overdraft FAQs

  • How does a Business Overdraft work?

    A business overdraft gives you flexible access to funds when you need them most. Once approved, you’ll have a set credit limit to draw from, and you can use as much or as little as your business requires at any time. You’ll only pay interest on the amount you’ve used, not the entire limit. As you repay the balance, your available funds refresh – ready to be used again, much like a credit card. It’s a handy way to manage cash flow.

  • How quickly can I access the funds?

    Simply contact us and our lending team will organise your application. To help expedite the process, check out our ‘How to Apply’ section above for eligibility and application requirements.

  • How much can I borrow?

    You can gain access to an overdraft facility for your Business account from $20k up to an approved set limit which will be defined upon application and dependant on the security you provide.

    Having clarity on your goals and well as in your current budget is important to make sure you borrow what you need and can meet your  repayments. Consider your expenses, including yearly monthly costs and yearly expenses such as business subscriptions. During the application process, this information will be used to assess your borrowing capacity.

  • Can I make extra repayments?

    Yes, you can repay the overdraft at any time. Any amounts deposited into the account will be utilised to repay the overdraft down.

    Paying extra can reduce your interest payable and help you pay off your loan sooner. Use our handy calculators above on this page to assess your repayments.

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Shane provided amazing customer service from start to finish. He was extremely knowledgeable, respectful, and attended to every detail of the process with thoroughness and professionalism. This kind of customer service is almost unheard of these days, so it was an absolute delight to work with Shane. The interest rate on my company car was fantastic and the terms of the loan were both fair and reasonable. I 100% recommend Shane and Southern Cross Credit Union for obtaining financing for a vehicle and wouldn't use anyone else for my business going forward. Thanks to Shane and his team!
Joanna Tedeschi
Previously we were not advocates of the banking industry, we were strong non-believers after some disappointing & negative experiences. Many locals referred us to Southern Cross Credit Union (SCCU) and after much encouragement we moved our banking business to the SCCU Tweed City Branch. We are now strong believers as we have been in the extremely efficient, effective and supportive hands of SCCU loans manager Stephen Distant. What an asset! Stephen has totally reframed our banking experience, we are genuinely impressed with his ability to do this by managing our loans. Even after many years as a SCCU client, Stephen's dedication with helping us has not died down, his loyalty remains nothing short of inspiring and his willingness to provide outstanding customer service is something we are in awe of. Moving our accounts to SCCU was a great decision, thanks to Stephen Distant.
Rod and Suzy Cornelius
Working with Steve has been an absolute pleasure! He is very professional yet is able to bring a personal touch to the banking and loan process. We always feel like we are kept up to date with requirements and processes and Steve is always willing to explain everything in a user-friendly yet professional manner. He has been amazing to work with for our financial needs and would highly recommend his services to friends, family, and colleagues.
Kylie Taylor