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Business overdraft

From your occasional credit needs to unexpected cash shortfalls, we'll help you prepare for those just-in-case moments.

Cover unexpected business expenses

Pay interest only on what you use

Only pay interest on the funds you use — not on the entire overdraft limit. Plus, deposits to your CIBC business account are credited to your overdraft balance, so you pay less interest.

Save the NSF fee

Avoid costly non-sufficient funds (NSF) fees on returned cheques and pre-authorized payments. You'll also maintain a good reputation with your payees.

Enjoy convenient access to funds

Money is available whenever you need it. You're covered, up to your approved overdraft limit, so you'll avoid missing payments or disrupting your cash flow.

Business overdraft at a glance

Overdraft amount

Up to $10,000¹

Currency

CAD or USD²

Interest rate

Variable Learn more about variable interest rates. Opens a popup.

Types of overdraft

Secured or unsecured³Learn more about secured and unsecured overdraft. Opens a popup.

Do I qualify for business overdraft?

If you meet these requirements, you’ll improve your chances of getting approved:

You have industry experience
You have personal financial investments in your company
Your business generates positive revenue, meaning your inflows exceed your outflows, for at least 12 to 24 months
You have a good credit score
You have a detailed business plan

Fees and details

Ready to get business overdraft? We'll guide you through the process

Book a meeting

Meet with one of our business advisors who will guide you through the application process and answer any questions. They can also help review your finances and give tailored advice based on your borrowing needs. You’ll need to bring a few documents to your appointment. Learn about the documents you’ll need to support your application. Opens in a popup.

Meet with us Opens in a new window.

Get a decision

We'll verify your information and review your credit profile. If your application meets our borrowing criteria, you'll get approved for a specific amount with a specific interest rate and repayment term.

Receive funds

After you accept your offer and sign a few documents, you can start using your money directly from your business bank account. Get funds in as little as 2 days for most applications.⁴

For full details on what to bring to your meeting, review the business credit application document checklist (PDF, 160 KB) Opens in a new window.

More great features

Use it as often as you need it, up to your approved limit and as long as your overdraft protection is available.

Enjoy automatic overdraft protection when your CIBC business bank account reaches zero.

Access your overdraft by writing a cheque against your CIBC business account or through CIBC Online Banking®, CIBC Mobile Banking® or through ATM withdrawals.

Combine your overdraft protection with other borrowing products, such as a business line of credit or a loan, for more flexibility.

CIBC Smart Balance Alert™

Forgot about that payment? We’ll send you a text message so you can avoid an NSF fee and a declined payment.

Learn moreabout CIBC Smart Balance Alert.

Your business overdraft questions answered

What's the difference between business overdraft and a loan or line of credit?

How can I apply?

How do I get a lower interest rate?

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