Business term loans

Our term loans can give you a flexible, medium-to-long term financing option to help you grow your business. 

Your business could benefit from:

  • a choice of floating and fixed rate options
  • flexible repayment terms to suit your financial needs
  • up to 100% finance for owner-occupied commercial property purchase

Business term loans

Or give us a call on

0800 177 188

A flexible finance option

Our floating rate loan is all about giving you the flexibility to pay it off quicker. You can change your repayment amount at any time, pay off lump sums whenever you want or pay the whole loan back early.  

With all of this flexibility you'd think we'd charge extra fees? Well we don't.

Repayment options

We have three repayment options to choose from. Pick the one that best suits your business:

  • table loan - you can spread your repayments evenly over the term of the loan
  • reducing loan - gradually reduce your repayments over the loan term
  • interest only - repay only the interest portion of the loan

Other information

  • the minimum floating rate business term loan amount is $3000.
  • 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
  • the loan will need to be secured by a commercial property and in some cases other supporting security such as residential housing

Have certainty of repayments

Our fixed rate loan is ideal if you need a degree of certainty when planning your finances. The interest rate and your repayments stay the same for the fixed rate term - even if market interest rates rise.

What's more, you can even fix the interest rate up to 12 months before you need the finance. That's good news if you want to plan your financing needs ahead particularly if you have concerns over interest rate fluctuations.

Repayment options

We have three repayments to choose from. Pick the one that best suits your business:

  • table loan - you can spread your repayments evenly over the term of the loan
  • reducing loan - gradually reduce your repayments over the loan term
  • interest only - repay only the interest portion of the loan until the interest-only period ends

Other information

  • the minimum fixed rate business term loan amount is $10,000.
  • 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, with minimum prepayment amounts of $10,000 (but prepayment fee break costs are likely to apply)*
  • an establishment fee up to 1% of the facility limit applies - with a minimum charge from $400
  • the loan is secured by a commercial property and in some cases other supporting security such as residential housing.

*For more information download the Fixed Rate Term Loan Prepayment (Break) costs PDF.

All applications for finance are subject to Westpac's current lending criteria.