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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 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.
- Borrow up to and including $3 million
- Your choice of fixed and variable rate options
- Offset facility available up to $1 million (conditions apply)~
Current Special Offer
Key Features:
- Fixed & variable rate options
- Reduce your interest repayments 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~
- Borrow up to $3 million
- Manage your cash flow with our Cashback feature, enabling you to access any extra money you've paid into your loan (variable only)
- 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.
- Flexible security options – residential, commercial/industrial, or a mix of these options
- $15 monthly loan account keeping fee
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Interest rates are determined by your individual business circumstances and therefore we do not publish a single lending rate.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
- $750 (new term loans between $10,000 – $999,999)
- $1,500 (new term loans between $1,000,000 – $1,999,999)
- $2,500 (new term loans between $2,000,000 – $3,000,000)
Eligibility Criteria
- New-to-bank Small Business lending applications between $10,000 and $3,000,000
- Applications lodged from 30 November 2021
Eligibility requirements
- To be eligible for a Small Business Essentials Loan you will need to be able to provide 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 less than $3 million or less.
- 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?
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).
