Business Essentials Term Loan
Loan finance up to and including $5 million to support expansion, capital purchases and more.
From
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For total amount borrowed:
$20,000 to $5 million
Terms and conditions apply*
Benefits and features
Optional offset facility.
Flexible loan terms.
Higher Loan-to-Value Ratio (LVR) lending.2
Flexible repayment.
Split your loan.
Access our cashback features.
Key features
Variable rate - Residential
security
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Loan finance up to and including $5 million to support expansion, capital purchases and more.
Variable Rate - Commercial
security
IRM{sbvarspec.3.2}*
Loan finance up to and including $5 million to support expansion, capital purchases and more.
Business tools & calculators
Business Repayment calculator
Business Loan comparison tool
Fees
Please download our Business Lending Fees & Charges document for more details.
How to apply
Check eligibility
To apply for a Business Essentials Term Loan:
You will need to be able to provide up to two consecutive years of financial information. This may be for a business you currently own or for a business you plan to purchase.
Your maximum required lending amount needs to be $5 million or less.
You need to have security such as residential property, commercial or industrial property, or a combination of these.
Please note: all applications are subject to approval.
Document Checklist
To be eligible for a Business Essentials Loan:
Two years of financial statements (Balance Sheet and Profit & Loss).
12 months of non-Suncorp Bank account statements, recent Council rates notice for existing property, executed purchase contract (if applicable).
ID documents.
Things you should know
Home Loan, Personal and Business Banking products are issued by Suncorp Bank (Norfina Limited ABN 66 010 831 722 AFSL No 229882 Australian Credit Licence 229882) to approved applicants only. Eligibility criteria, conditions, fees and charges apply and are available on request. Please read the relevant Product Information Document and terms and conditions before making any decisions about whether to acquire a product.
Current Offer applies to variable loans secured by residential property with an LVR of 80%. For variable loans secured by commercial property with an LVR of 70%, an additional margin of 0.50% p.a. will apply. Further discounts or margins may apply based on LVR.
1Offset is only available on lending where security is acceptable to the Bank. Offset feature is only available on a variable loan. Terms and conditions apply.
2LVR stands for loan to value ratio at loan approval. LVR is the amount of the loan compared to Suncorp Bank’s valuation of property offered to secure the loan as a percentage. For loans secured by residential property with a LVR of over 80%, or for loans secured by commercial property with a LVR of over 70%, a margin will be added to your interest rate.
3Customers will need to register for the Online Cashback to withdraw their available Cashback via their Internet Banking and the Suncorp Bank App.
