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Macquarie Bank business overdraft

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Manage your short-term cash flow fluctuations with a business overdraft from Macquarie Bank.

Sometimes seasonal - or unseasonal - cash flow fluctuations can throw your business off-kilter. Whether it's covering overheads, paying staff, or buying inventory, business owners looking for help with their short-term cash flow can choose to opt for a Macquarie Bank business overdraft. Approved limits start from $50,000 and interest is only charged on what you draw down.

Macquarie business banking currently specialises in accounting, architecture, car dealers, engineering, financial services, healthcare, insolvency, insurance, legal, real estate, strata management, surveying and technology industries. If your business is in one of these industries, you may want to consider a Macquarie business overdraft.

Details

Product NameMacquarie Bank business overdraft
Min. Loan Amount$50,000
Max. Loan AmountNo maximum amount
Loan SecuritySecured

How does a business overdraft from Macquarie Bank work?

A Macquarie Bank business overdraft works much like any other business overdraft, in that it allows you to overdraw funds on your business's debit account up to an approved limit at your discretion, to bolster cash flow fluctuations. With a Macquarie business overdraft, pre-approved credit limits start at $50,000. Maximum limits will depend on your business's financial standing and whether you have an existing relationship with the bank. Please note that Macquarie business overdrafts are not provided on a standalone basis. They are only available in addition to other products, e.g. business debit accounts.

Interest on a Macquarie business overdraft is only charged on the amount that you draw down from your pre-approved limit. So, you won't be charged for any funds that you do not use.

To apply for a Macquarie Bank business overdraft, borrowers must contact the bank directly and request a callback to discuss their situation. Once you've requested a callback, Macquarie will allocate you a professional consultant who specialises in your particular industry.

What features does a Macquarie Bank business overdraft offer?

Features associated with a Macquarie business overdraft include:

  • Credit limit. Pre-approved credit limits start from $50,000. There is no maximum credit limit, this amount will depend on your financial circumstances and your relationship with the bank.
  • Industry specialised. Macquarie Bank specialises in loans for accounting, architecture, car dealers, engineering, financial services, healthcare, insolvency, insurance, legal, real estate, strata management, surveying and technology industries. If your business is not in one of these industries, Macquarie Bank cannot offer you a business overdraft.
  • Only pay for what you borrow. Only pay interest in funds that you draw down, not on your entire pre-approved credit limit.

How much does a Macquarie Bank business overdraft cost?

Macquarie Bank customises costs based on a number of factors regarding your financial situation and that of your business. However, with a business overdraft you can expect to pay:

  • Interest rate. An interest rate will be charged on any fees that you draw down from your pre-approved limit.
  • Fees. Fees such as establishment fees, account-keeping fees and exit penalties may apply.

How to apply

Click "Go to site" on this page to visit Macquarie Bank's website directly and request a callback. In order to be eligible for this business overdraft, you will need to:

  • Be 18 or older
  • Have an active ABN/ACN
  • Have additional Macquarie Bank products, e.g. a debit account or business debit account

All applicants are subject to credit approval and other terms and conditions and eligibility criteria may apply. Please contact the lender directly for further details.

Please always remember to compare your business loan options carefully before submitting an application.

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