You run your business under your own ABN. You deserve the same access to working capital as any company. No tax returns needed under $150K. Decisions from 1 hour. Tradies, freelancers, contractors, consultants - all welcome.
Traditional banks were built for PAYG employees and established companies. Sole traders fall through the cracks - even when the business is profitable.
These are the core requirements for sole traders applying through our non-bank lender panel.
Not sure if you meet the criteria? Check your eligibility →
Our calculator gives you an instant indicative result based on your turnover. No credit check, no commitment, no cost.
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If you operate under your own ABN and meet the eligibility criteria, we can help - regardless of your industry or how you structure your work.
Plumbers, electricians, carpenters, painters, concreters - cover materials and tool costs between jobs.
Designers, developers, writers, marketers - bridge the gap between project completion and payment.
IT contractors, building subcontractors, labour hire - manage cash flow between contract payments.
Business, HR, finance, engineering consultants - cover operating costs during billing cycles.
Truck drivers, delivery operators, courier drivers - fund fuel, maintenance and rego costs.
Ride-share drivers, delivery partners, task-based workers with ABN registration.
Food stall operators, craft sellers, market traders - buy stock ahead of weekend markets.
Mobile mechanics, pet groomers, cleaners, personal trainers - fund equipment and supplies.
From first enquiry to funds in your account - the entire process can happen within 24 hours.
Use our online calculator for an instant indicative quote. No credit check, no obligation. Takes under 2 minutes.
Senior broker John Pierre Saliba calls within 1 hour to discuss your sole trader business and overdraft needs.
Submit 6 months of business bank statements as PDF. No tax returns, no BAS, no financial statements required under $150K.
One application submitted to the single best lender for your profile from our panel of 50+. One credit enquiry only.
Decision from 1 hour. Your credit limit is set based on your turnover and credit profile - up to $500K.
Draw what you need directly from your business account. Repay and reuse over a 5-year revolving facility. Interest only on what you draw.
No credit check. No obligation. Instant indicative result based on your turnover.
Get my indicative quote → Call 02 8046 3933Here is how traditional bank overdrafts compare to non-bank alternatives for sole traders and self-employed ABN holders.
| Feature | Bank Overdraft | Non-Bank (via OverdraftMe) |
|---|---|---|
| Sole traders accepted? | Rarely - most require company structure | Yes - ABN holders welcome |
| Tax returns required? | Yes - 2 years minimum | No - bank statements only under $150K |
| Property security | Usually required | Not required under $150K |
| Minimum trading | 2+ years | 6 months |
| Minimum turnover | $250K+ per year | $6K per month ($72K/year) |
| Decision time | 4-6 weeks | From 1 hour |
| Variable income OK? | Usually not | Yes - assessed on 6-month average |
| Interest rate | 6-12% p.a. (secured) | 14.55-25% p.a. (unsecured) |
| Maximum facility | Varies | Up to $500,000 |
| Interest tax deductible? | Yes | Yes - fully deductible |
Want to compare specific lenders? Compare overdraft options →
OverdraftMe is a specialist business overdraft broker for Australian sole traders and SMEs. We match you with the right lender from our panel of 50+. ACL 511092 | MFAA Member | AFCA Member. Read our full FAQ →
Yes. Many non-bank lenders specifically cater to sole traders and self-employed ABN holders. You do not need to be a company or partnership. As long as you have a valid ABN, 6+ months of trading history, and at least $6,000 monthly turnover through your business bank account, you can apply for a revolving overdraft facility up to $500,000. We compare 50+ lenders to find the right fit for your sole trader business.
No. For facilities under $150,000, most non-bank lenders on our panel do not require tax returns, BAS statements, or financial statements. The application is assessed using 6 months of business bank statements only. This is particularly beneficial for sole traders who may not have up-to-date financials or whose tax returns don't reflect current business performance.
Non-bank lenders understand that sole traders often have irregular income. They assess your average monthly deposits over 6 months rather than requiring consistent month-to-month revenue. Seasonal businesses, project-based contractors, and freelancers with lumpy income are all considered. The key metric is your average monthly turnover being at least $6,000. One strong month can offset a quieter month.
Decisions can be made in as fast as 1 hour from submission. Once approved, funds are typically available same day or next business day. The entire process from initial enquiry to funds in your account can happen within 24 hours. You need your ABN details and 6 months of business bank statements as PDF to apply. There is no cost to apply - our service is free to the borrower.
A business overdraft for sole traders is linked to your business bank account and assessed on your business turnover. Interest and fees are fully tax deductible as a business expense. A personal overdraft is assessed on personal income (PAYG) and is not tax deductible. Business overdrafts also offer higher limits - up to $500K versus typical personal overdraft limits of $10-50K. For sole traders earning business income, a business overdraft is almost always the better option.
Free service. No credit check to get a quote. Decisions from 1 hour. Sole traders, contractors and freelancers welcome.
Get my indicative quote → Call 02 8046 3933