Unsecured business overdraft - Fast, flexible and easy

Fast online conditional approval is subject to eligibility, credit assessment, lending criteria and ID verification.

You can only apply for this product if:

• Your business is registered for GST and has a turnover of at least $75,000 per year.
• Your business has been in operation for at least 12 months and has a valid Australian Business Number (ABN).
• You have a business and residential address in Australia.
• You intend to use the product where the purpose is wholly or predominately for business purposes. You can't use funds to make payments to the Australian Tax Office.
• You're at least 18 years and hold an Australian citizenship or permanent residency.
• You're a sole trader, a business partnership with no more than two individual partners, a company with five or less directors or a trustee of an eligible trust. Joint borrowers who are not partnerships, or partnerships where one or more partner is a company are not eligible to apply.
• Due to their specialised nature, some franchise businesses may not be eligible for QuickBiz.
• Any shareholders of companies or trustee companies that are listed in the application are individuals, and not companies.
• Eligible trusts include the following:
  • your trust must be a non-government discretionary trust.
  • your trust has a valid Australian Business Number (ABN) and has been registered for at least 12 months.
  • your trust must have been established in Australia.
  • the beneficiaries of your trust are individuals.
  • your trustees can only be one of:
    • a company with no more than five directors.
    • up to two individuals.
  • if the trustee is a company shares in the company must be beneficially held.
• Fast online decision and conditional approval is subject to eligibility, credit assessment, lending criteria and ID verification.
• If you have existing NAB Business Lending, you can apply online for an additional NAB QuickBiz Loan, NAB QuickBiz Overdraft, NAB Business Credit Card or NAB Equipment Finance Loan 50 days after your most recent establishment date.
• If you're an existing NAB Customer, you can only apply for this product if you have less than $1m in existing business lending with NAB and less than $250k in unsecured business lending with NAB (inclusive of this application).
• The overdraft is available as a variable interest rate only. Debit interest is calculated on the daily outstanding balance and is charged to the account on the last banking day of the month. A NAB QuickBiz Overdraft service fee applies and is charged to the account on the last banking day of each month. Fees and charges may apply to your linked transaction account.
• You'll receive your funds after we receive your completed contract. Business days are Monday to Friday, excluding weekend and VIC public holidays.
• You can only borrow up to $50,000 in total limits across both a NAB QuickBiz Overdraft and NAB Business Credit Cards (applied for online).
• The NAB QuickBiz Overdraft is only available as a new facility. It can’t be applied to existing NAB Business Overdrafts.

View full eligibility criteria

Interest is calculated daily and only on the funds you’ve used. This is charged on the last banking day of the month.

A service fee of 1.75% per annum of the Overdraft limit is charged monthly on the last banking day.

No minimum repayments are required if your NAB QuickBiz Overdraft remains under the agreed limit.

The minimum annual turnover requirment for a NAB QuickBiz Loan is at least $75,000 per year. We want to make it easier for your business to apply and help you access funds sooner.