Stay in the green with Penta overdraft

Need a little money to hold you over till pay day? We’ll spot you up to €40,000 in overdraft.

What is Penta overdraft?

Simply put, overdraft lets you dip into a negative balance if you don’t have money in your account to cover a transaction. It’s ideal for when you know money’s coming in but it hasn’t arrived yet and you still need to make payments. Instead of being charged a fee or the transaction failing, the money goes through and you pay interest on the amount gone into overdraft. Penta overdraft is currently available to GmbHs and UGs, as well as to freelancers and sole proprietors who meet the credit requirements.

The benefits of using overdraft with Penta

Apply in just a few minutes

There’s no need to fill out paperwork or jump on a call. Simply apply for overdraft from your Penta account.

Get up to €40,000 to cover your expenses

Get liquidity at short notice so you don’t fall behind on paying salaries, invoices, or other business essentials.

Flat interest rate of 9.9%

Our terms are fair and transparent. No hidden fees, no fine print, no bureaucracy.

Only pay for what you need

With Penta overdraft, you only pay interest on the amount you spend and until it’s paid off.

Avoid and non-sufficient funds fees

Continue to pay direct debits which would otherwise rack up NSF fees when they bounce.

Pay off your overdraft without thinking about it

The overdraft amount is automatically paid off by new money entering your account.

How to apply for Penta overdraft

01

Login to your Penta account and select ‘Request Overdraft Facility” from the Main Account menu.

02

Confirm your business address, consent to a credit check, and apply for overdraft.

03

In just a few seconds, you’ll know if you’ve been approved for overdraft and for how much.

45,000+ businesses bank on Penta

“Thanks Penta for simplifying corporate banking for us! We switched recently and really love the design and UX.”

“Penta vs traditional banks? No bureaucracy, better look and feel. Penta really focuses on building the features useful for our business.”

Open your Penta account with overdraft today

Apply for your business account in minutes, start banking within 48 hours, and easily apply for overdraft if you need it.

No hidden fees • Cancel anytime

FAQ

Overdrafts will be offered by Solarisbank, with Penta acting as a credit intermediary on behalf of the bank.

Penta overdraft is available for freelancers, sole proprietors, GmbHs and UGs.

 

Your eligibility and the amount of your overdraft depends on your creditworthiness.

 

The prerequisite for freelancers is an age of 18 to 67 years, for sole traders, GmbHs and UGs at least 12 months of business activity.

Applying for overdraft from your Penta account and getting a decision takes only a few minutes.

As soon as a deposit is made to your account, it will automatically be applied against your overdrawn balance.

To apply for overdraft:

 

  • Login to your Penta account and select ‘Request Overdraft Facility” from the Main Account menu
  • Confirm your business address, consent to a credit check, and apply for overdraft
  • In just a few seconds, you’ll know if you’ve been approved and for how much
  • Your overdraft limit and real-time usage is now viewable in your Main Account balance

No, applying for overdraft is a neutral condition request and therefore has no impact on your Schufa rating.

The overdraft limit is between €500 and €40,000. The amount approved ultimately depends on the customer’s creditworthiness as determined by Solarisbank.

The interest rate is 9.9% p.a. The customer only pays interest for the duration and amount of the actual utilisation of the overdraft.

No, the only cost to consider is the interest rate.

Overdraft:

 

  • For short-term financing needs, e.g. liquidity for running costs, goods, discounts, fixed costs
  • Related to a current account
  • Low bureaucratic effort
  • Repeatedly usable
  • Easy to terminate
  • No fixed redemption
  • Higher interest rate
  • High flexibility

 

Term Loan:

 

  • For mid- to long-term plans and reserves
  • For investments and acquisitions
  • Higher requirements
  • Regulated repayment and term
  • Usually not easily terminable
  • Less flexibility
  • Lower interest rates
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