More information about ANZ GoBiz

Business loans and overdrafts are both lending options but under different conditions and for different reasons. A business loan is a sum of money that is usually paid into your account as one complete payment. 

An overdraft provides you with an agreed lending limit. It gives you the flexibility to easily draw money as you need it, up to your agreed limit, to manage cash flow cycles and keep your business moving

With an unsecured business loan or overdraft you will not need to use your assets, like cash or property, as a form of security. Unsecured loans can be useful when you don’t want to tie your lending to your assets or if your assets are linked to other lending or contracts.

Financial providers tend to take an individual guarantee and indemnity from the director/s of the business taking out the unsecured lending. This means that if the business fails to meet its lending obligations, like repaying the loan, the director/s can be held responsible.

With ANZ GoBiz you will not need to provide an asset as security. Director/s of the business taking out the unsecured lending will need to provide an individual guarantee and indemnity.

If you are taking out an ANZ Business Overdraft, you’ll need a linked ANZ business transaction account. If you don't already have one, we will open an ANZ Business Advantage account for you. This low-cost transaction account gives you easy access to your money via ANZ Internet Banking, ATMs and branches.

Benefits of an ANZ Business Advantage account:

• Unlimited ANZ transactions per month^disclaimer
• ANZ Business Visa Debit cards^disclaimerand ANZ Internet Banking available
• Daily payment limits of up to $50,000 (with ANZ Shield)
• $10 monthly account servicing fee

At the end of the 20- minute online application, it’s possible that you’ll receive a conditional approval. This means that you’re approved for credit from us, subject to our team verifying the information you provided and checking your existing account conduct (where applicable).

It should take no more than two business days before we can provide the final, unconditional approval. There may be instances where we need additional information from you, which could extend this timeframe.

ANZ GoBiz supports unsecured business lending. If your existing ANZ business lending is unsecured, you may be eligible to apply for additional unsecured lending via ANZ GoBiz up to a total limit of $200,000 (inclusive of your existing lending and your proposed lending).

If the existing lending you have with ANZ has security attached to it (like property, an asset or cash), you can speak to one of our business banking specialist about the best lending options for your needs.

We’ve waived ANZ’s standard approval fee for all ANZ GoBiz applications.

We’ve also waived the quarterly loan administration charge for business loans acquired through ANZ GoBiz.

ANZ’s standard Credit Facility fees will apply to business overdrafts. You can read more ANZ fees (PDF 162 kB).

At the end of the ANZ GoBiz application we will ask for your consent and for the consent of any other directors to complete a credit check. The credit check involves ANZ accessing credit reports from credit reporting bodies. These reports contain information, like your credit card history, that assists us in assessing your application.

If your business has multiple directors, you’ll need to provide contact details for each director so that we can contact them and get their digital consent to conduct an individual credit check.

No outstanding tax liabilities means you have no outstanding tax amounts owing to the ATO that are past the original due date, which includes no payment arrangements or deferrals (including COVID-19).

You can still complete the application yourself if your accounts are managed by your accountant. During the application we will ask you to review the financial information we have collected about your business verify that it is accurate. 

To apply all you need is:

• Your ABN/ACN
• Your accounting software login details as you'll need to login once to your accounts
• Tax number (if you're an overseas citizen or resident) 
• Details of any existing business lending that you have, including overdrafts, loans credit cards and/or asset finance
• Personal and business information for other directors of your company

By applying through ANZ GoBiz, we’ll collect your personal and business information to assess your application.

We may use this personal and business information to progress your application, including contacting you about incomplete applications and to request a credit report from a credit reporting authority.

You, or other company directors, can call us on 13 13 14 at any time to withdraw consent to this use of your personal or business information, or to find out more. You can also read more about the collection of personal information at ANZ's Privacy Centre.