Business term loans

Research shows that a lack of funding is one of the main barriers to business expansion. Our loans can give you medium-to-long term financing to help you grow your business. Choose the flexibility of a floating rate or the certainty of a fixed rate

Flexible floating rate loans

For a flexible finance option, choose a floating rate loan.

• Change your repayment amount at any time.

• Pay off lump sums whenever you like.

• If business is going well, you can pay the whole loan back early.

The details
The minimum floating rate business term loan amount is $3000, and the maximum loan amount will depend on your security* and ability to service the debt.

Interest is calculated on the daily outstanding balance and charged either fortnightly or monthly.

Repayments are automatically deducted from your nominated transaction account.

An establishment fee up to 1% of the facility limit or loan amount applies, with a minimum charge from $400.

 

Fixed rate loans for greater certainty

A fixed rate loan is ideal if you want set repayments to help with your budgets and forecasting.

• The interest rate and your repayments stay the same for the entire term, even if market interest rates rise.

• You can fix the interest rate up to 12 months before you need the finance, allowing you to plan well ahead.

The details
The minimum fixed rate business term loan amount is $10,000, and the maximum loan amount will depend on your security* and ability to service the debt.

Interest is calculated on the daily outstanding balance and charged monthly.

Repayments are automatically deducted from your nominated transaction account.

Early termination or lump sum payments are available (subject to break costs), with minimum prepayment amounts of $10,000. For more information download the Fixed Rate Term Loan Prepayment (Break) costs PDF .

An establishment fee up to 1% of the facility limit applies - with a minimum charge from $400.


Three repayment options

Whether you decide on a floating rate or a fixed rate, you have three repayment options. Select the one that best suits your cash flow:

1. Table loan. Spread your repayments evenly over the term of the loan.

2. Reducing loan. Gradually reduce your repayments over the loan term.

3. Interest only. Repay only the interest portion of the loan until the interest-only period ends.

*A number of security options are available including residential property, commercial property or business assets.