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Small Business Essentials Loan
Loan finance up to and including $3 million to support small business expansion, capital purchases and more.
Why choose a Small Business Essentials Loan?
Our Small Business Essentials Loan provides up to $3 million~ finance for a broad range of business requirements. These might include investing in a business or franchise, or funding longer term working capital requirements such as buying, building or upgrading premises, or purchasing vacant commercial or industrial land. You can also use this loan to consolidate business debts.
Higher LVR Lending
Lending up to 100% LVR with residential security and up to 80% LVR with commercial security~
Flexible Loan Terms
With loan terms up to 30 years
you'll be sure to find an option
that's right for your business
Optional Offset Facility
Save on interest with an optional offset account available up to $1 million (conditions apply)~
Current Special Offer
Key Features:
- Flexible security and LVR options with the ability to borrow up to 100% of residential security value and up to 80% of commercial/industrial security value~
- Manage your cash flow with our cashback features, enabling you to access any extra money you’ve paid into your loan (variable only)
- Loan terms of up to 30 years available~
- Split your loan across fixed and variable rates. You can choose to split your loan and fix a portion of your borrowings at a fixed interest rate for greater budgeting certainty.
- Reduce your interest payments with our offset feature up to $1 million (variable only). The funds in your linked Suncorp business transaction account will offset, or reduce, the balance of your Small Business Essentials Loan and accrue less interest. Conditions apply~
- On variable loans you can choose to pay more than your required minimum monthly repayment or choose to make additional repayments.
Plus flexible repayment options to suit your cash flow needs
- Principal + Interest or Interest-only repayment options
- Choose weekly, fortnightly, or monthly repayments
- Choose to pay more than your required minimum monthly repayment
- Make additional repayments or lump sum payments
Interest rates
Interest rates are determined by your individual business circumstances and therefore we do not publish a single lending rate. Your Business Banking Manager will take into consideration your needs and circumstances and provide you with competitive rate options.
Fees
Establishment Fee
Special Offer – Nil Establishment Fee for new Small Business Essentials Term Loan applications
Eligibility Criteria
- New-to-bank Small Business lending applications between $10,000 and $3,000,000
- Applications lodged between 28 February 2022 and 31 August 2022
Eligibility requirements
- To be eligible for a Small Business Essentials Loan you will need to be able to provide up to 2 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 $3 million or less for term loans and $1 million or less for overdraft or line of credit facilities.
- You need to have security such as residential property, commercial or industrial property, or a combination of these.
Other lending solutions
Not sure if a Small Business Essentials Loan is the right product for your situation? Simply call us on 13 11 55 to discuss your credit and lending needs or you can learn about our other products below:
Ready to get in touch?
LVR 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. Loans secured by residential property with a LVR of over 100%, and loans secured by commercial property with a LVR of over 80% may be considered subject to Suncorp Bank’s lending criteria.
One offset facility available per group of related borrowers. Offsets are capped at $1,000,000 and are only available on lending where security is acceptable to the Bank. Terms and conditions apply.
Business Lending Products are issued by Suncorp-Metway Ltd ABN 66 010 831 722 Australian Credit Licence number 229882 (“Suncorp Bank”). To approved applicants only. Fees, charges, terms and conditions apply and are available on request. Citigroup Pty Limited ABN 88 004 325 080, AFSL No. 238098, Australian Credit Licence 238098 (“Citigroup”) is the credit provider and issuer of Suncorp Clear Options Business Credit Cards. Suncorp Bank promotes and distributes Suncorp Clear Options Business Credit Cards on Citigroup’s behalf under an agreement with Citigroup. Suncorp Bank will not guarantee or otherwise support Citigroup’s obligations under the contracts or agreements connected with the Credit Cards (other than those relating to Suncorp Bank internet banking and telephone banking).
