Key highlights
- Cover materials and wages before the invoice is paid
- Say yes to bigger jobs without draining your cash
- Unsecured loans up to $500k with no property security
- Invoice finance turns unpaid invoices into cash now
- One application compared across 80+ lenders by your broker
Tradies front up for materials, tools, fuel and labour on almost every job, then wait on invoices that clients pay when it suits them. Overdrive Business Loans puts one dedicated broker, Simon Kendrick, in your corner, comparing a panel of 80+ banks and non-bank lenders on a single application. That gives you a clear view of working-capital options built for the way trades actually get paid, so a slow-paying client or a big materials bill never stops you taking the next job.
Why tradies use business loans
Almost every trade job starts with you spending money. You buy materials, pay for tools and consumables, fuel the ute and cover any labour, then invoice and wait, sometimes 30, 60 or even 90 days, for the client to pay. On a single job that is manageable, but run a few at once and the outgoings stack up fast. A business loan gives you working capital to cover those upfront costs and keep going while invoices are outstanding. It also means you can take on a bigger job or a run of work without worrying whether the cash will stretch. For tradies, that breathing room is often what separates a steady, growing business from one that stalls every time a client pays late.
Common uses of funds
Tradies commonly use funding to buy materials for a big job, cover wages for an apprentice or subbie, replace worn tools, and keep fuel and running costs flowing. Funds also help with a workshop or storage fit-out, training and licence renewals, marketing and a decent website, or software to quote and invoice faster. Bridging a quiet stretch or a looming ATO or BAS bill is another common use. Many tradies use a business loan to buy a ute, van or trailer when they prefer an unsecured working-capital facility over traditional asset finance. Funding from around $5,000 up to $5 million may be available, with unsecured facilities typically up to $500,000, all indicative and subject to lender criteria and assessment.
Which loan products suit tradies
The right product depends on how you work. An unsecured business loan gives you a lump sum fast without tying up your home, ideal for a one-off materials purchase or a new job. A line of credit or overdraft is handy if your cash flow is up and down, letting you draw only what you need and pay interest on the balance used. Invoice and debtor finance turns unpaid invoices into cash straight away, which suits tradies stuck on long client terms. For a bigger step, like a workshop or a larger fit-out, a secured business loan can access more. Your broker can compare these on one application and point you to the option that fits your job pattern and cash flow.
Eligibility and what lenders look for
Most lenders want an active Australian ABN, some trading history, often 6 to 12 months, and a reasonably steady monthly turnover. As a tradie, showing regular income through your bank statements goes a long way, even if your paperwork is not perfectly up to date. Low-doc options may use bank statements or BAS instead of full financials, which suits busy operators on the tools. Newer businesses and sole traders may still qualify subject to criteria, especially with solid recent takings or supporting security. A clean recent statement and a tidy ATO position help. Because each lender scores things differently, comparing several at once improves your chance of an approval that fits your numbers rather than a rigid template.
How much and how fast
How much you can borrow depends on your turnover, the product and any security. Unsecured facilities are typically up to $500,000, while secured lending against property can go higher where the numbers support it. Terms typically run from 3 months to 5 years, so you can match a short materials top-up to a quick payback or spread a larger investment over time. When you need materials on site tomorrow, speed matters, so for eligible applicants same-day pre-approval and funding within 24 to 48 hours may be possible. All figures are indicative and subject to lender criteria and assessment. Your broker can give you a realistic range up front, so you know where you stand before you commit.
The broker advantage on one application
Ringing around lenders yourself is slow, and every knock-back or enquiry can leave a mark on your credit file. Overdrive does it the smart way: Simon Kendrick takes one application and compares it across 80+ banks and non-bank lenders, then brings back the options that suit tradies. You fill in the details once and get a clear side-by-side view of rates, terms and structures. Business-loan pricing is product and profile dependent, with rates starting from around 7.49% p.a. for stronger secured facilities and unsecured or short-term products priced higher depending on turnover, term, security and credit profile. A broker who knows the panel saves you time and helps you land the right fit.
If cash-flow gaps or a big materials bill are holding your work back, an obligation-free quote is the easiest first step. It starts with a soft credit check only, so having a look will not affect your credit score, and you get a clear view of what may be available across the panel. For eligible applicants, funding can be arranged within 24 to 48 hours, so you can get on with the job while your invoices catch up. Reach out to Overdrive Business Loans and let Simon compare 80+ lenders on one application, and keep your trade moving with confidence.
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