A Melbourne retail business turning over about $20,000 a month needed funds to buy stock. Their bank wanted full financials and too much paperwork. OverdraftMe arranged a $25,000 unsecured business overdraft through a specialist non-bank lender, assessed on six months of bank statements only, with no property as security and approval within 24 hours. The facility let the owner buy inventory when they needed it rather than wait on a bank.
At a glance
| Industry | Retail |
|---|---|
| Location | Melbourne, VIC |
| Turnover | About $20,000 per month |
| Purpose | Buying stock and inventory |
| Facility type | Unsecured business overdraft |
| Approved limit | $25,000 |
| Security required | None |
| Documents assessed | 6 months of bank statements only |
| Lender | Specialist non-bank lender |
| Time to approval | 24 hours |
The challenge: stock costs money before it sells
Retail runs on the inventory cycle. You pay your supplier for stock up front, then earn the money back as it sells over the following weeks. Buy too cautiously and you miss sales, buy ahead of a busy period and you can be short of cash until the stock moves. This retailer was turning over about $20,000 a month and needed funds to buy stock at the right time rather than tie up all its cash in inventory.
The bank wanted full financials and a level of paperwork that did not suit a small owner-run shop, and the timeline was too slow for a stock order that needed placing.
How we solved it
We assessed the business on six months of its bank statements. For a small retailer, the statements show the real trading rhythm, money in from sales and money out to suppliers, without the burden of full financials. This is bank statement lending, and it is fast.
We matched the business to a specialist non-bank lender comfortable lending unsecured at this size. Unsecured meant the owner did not have to put up property or any asset to get the facility.
The result
The lender approved a $25,000 unsecured business overdraft within 24 hours, on bank statements alone. The owner could draw on it to pay suppliers and buy stock when they needed to, then repay as the stock sold, paying interest only on what was used. The business could buy inventory on its own timing instead of waiting on a bank.
What business owners can take from this
- An overdraft bridges the gap between paying for stock and selling it.
- Statement-only lending suits small retailers, because the statements show the real trading rhythm faster than full financials.
- Unsecured facilities let you fund inventory without risking property.
- Speed is achievable. This facility was approved in a day on bank statements alone.
Frequently asked questions
Can a retail business get an unsecured overdraft to buy stock?
Yes. Retailers use unsecured overdrafts to buy inventory ahead of sales, especially before busy periods. In this case, a Melbourne retailer turning over about $20,000 a month was approved for a $25,000 unsecured facility on six months of bank statements, within 24 hours.
Can I get business funding with only bank statements?
Often yes. Many non-bank lenders assess smaller facilities on six months of bank statements rather than full financials, which speeds up approval and cuts the paperwork.
How does a business overdraft help with buying inventory?
An overdraft lets a retailer buy stock before the revenue from selling it arrives. You draw to pay the supplier, then repay as the stock sells, paying interest only on what you use.
How fast can a small business overdraft be approved?
With a non-bank lender and a statement-only assessment, approval can come within 24 hours, compared with the longer timeline of a full bank application.
Run a shop and need to buy stock without tying up all your cash? Tell us about it and we will come back with the facilities that fit. Start here.
This is a real OverdraftMe client outcome, anonymised for privacy. Every business is different, and approval, limits, rates and timeframes depend on individual circumstances.