Business Loan
Product Guides
Benefits:
Fast access to funds
Access capital for your clients when they need it most
Easy process
Easy, Lite Doc
approval process
Competitive pricing
Our pricing is competitive, so you can feel confident your clients are getting the best deal
Pricing and Fees
Lite-Doc - up to $500k
| Property | 12.95%* |
| Non Property | 18.95% |
(special – standard 14.95%)
Loadings
| < 2yrs GST | 2.00% |
| If existing cash flow loans | 2.00% |
| Single Director | 2.00% |
Fees
| Establishment Fee | $495 |
Product Details
Product Specifications
| Non Property | Property Backed | Caveat/ Mortgage | |
|---|---|---|---|
| Minimum Loan Amount | $25,000 | ||
| Maximum Loan Amount | $250,000 | $500,000 | |
| Repayment Frequency | Weekly | ||
| Interest Type | Fixed | ||
| Repayment Type | P&I | ||
| Term | Up to 36mths | Up to 48mths | Up to 60mths |
| Lite-Doc & Matrix Based Approval | Yes | ||
| Only Available to Businesses | Yes | ||
* Caveat or Mortgages not applicable in Northern Territory
# SMSF / Hybrid trusts are not acceptable
Eligibility
| Non Property | Property Backed | Caveat/ Mortgage | |
|---|---|---|---|
| Minimum GST Tenure | 24mnths | 24mths | 12mnths |
| Bank Statements | 12mths | ||
| Business Score | Clear | ||
| Personal Score | Clear | ||
| ATO Statements | Last 6mths | ||
* Less than 24mths GST registration may be accepted with deposit, or if property backed
Acceptable Loan Purpose
| General Business Purpose | Yes |
| Refinance Existing Debt | Yes |
| Clearance of ATO Debts | Yes |
| Buyout Directors or Investors | Yes |
| Business Acquisition | Yes |
| Fit Out or Refurbishment | Yes |
| Specialised Equipment | Yes |
| Consumer Purchases | No |
| Gambling and Leisure Debt | No |
| Repayment of Shareholder or Related Party Loan | No |
Security Requirements
| Required | |
|---|---|
| General Security Agreement (GSA) | Client may opt for GSA waiver if < $75,000 and property owner. 2.50% loading will apply when GSA waived |
| Personal Guarantee & Indemnity | Required for Directors and Shareholders |
Unacceptable Industries
| * Exploration and Other Mining Support Services |
| * Electricity Supply |
| * Gas Supply |
| * Building Construction |
| * Commission-Based Wholesaling |
| * Fuel Retailing |
| * Accommodation |
| * Broadcasting (except Internet) |
| * Library and Other Informational Services |
| * Insurance & Superannuation Funds |
| * Auxiliary Finance & Insurance Services |
| * Property Operators and Real Estate Services |
| * Education and Training |
| * Heritage Activities |
| * Creative and Performing Arts Activities |
| * Gambling Activities |
Brokerage & Establishment Fee
| Brokerage | Up to 4% |
Capitalised into the loan and charged as an Establishment Fee
