Woman reviews her business expenses on a tablet

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?

Meet these requirements and 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 an appointment

If you're ready to borrow funds, book a meeting with one of our expert advisors. Choose a date, time and CIBC Banking Centre that works for you.

Meet and apply

Meet with an advisor in person, and answer questions about your business and its financial performance. You'll need to bring a few documents to your appointment. Learn about the documents to support your credit application. Opens a popup.

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 is available.

Get automatic coverage when your bank account reaches zero.

Access your overdraft by writing a cheque against your CIBC business account, through CIBC online, mobile or telephone banking, ATM withdrawals or at a CIBC Banking Centre.

Get a combination of borrowing products, such as a 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?

Can I apply online?

How do I get a lower interest rate?

Here's the kind of expertise you can rely on

Ryan C., Senior Business Banking Financial Advisor at CIBC

“My success comes from taking the time to understand my clients' businesses, their personal finances and all the challenges they face in life — which may or may not be related to finance."

Ryan C., Senior Business Banking Financial Advisor with more than 19 years of experience

Learn more about RyanOpens a popup.

"I'm passionate about helping my clients, and I feel very grateful when their dreams become reality. That’s exactly what keeps me going."

Jennifer W., Business Advisor with more than 10 years of experience

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Elie C., Senior Business Banking Solution Specialist at CIBC

“I give my clients the right tools to do their banking efficiently and effectively so they can invest more time into the success of their business.”

Elie C., Senior Business Banking Solution Specialist with more than 6 years of experience

Learn more about ElieOpens a popup.

Resources to help manage your business

Contact us

Connect with a business banking expert on your schedule or in your community.

Meet with us

Request a call

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Telephone Banking: 1-800-465-2422 Opens your phone app. | Contact us

Business overdraft

Cover unexpected business expenses

Pay interest only on what you use

Save the NSF fee

Enjoy convenient access to funds

Business overdraft at a glance

Overdraft amount

Currency

Interest rate

Types of overdraft

Do I qualify for business overdraft?

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

Book an appointment

Meet and apply

Get a decision

Receive funds

More great features

CIBC Smart Balance Alert™

Your business overdraft questions answered

Here's the kind of expertise you can rely on

Resources to help manage your business

Ways to bank

Related products and services

Guides and resources

Contact us