Competitive Banking market means good news for small business owners

The Commonwealth Bank has launched a market leading BetterBusiness Residential Loan with a 5.99% honeymoon rate.

Karen McGregor, Executive General Manager for the Commonwealth Bank’s Corporate & Business Services said, “The current environment makes it a great time for small business owners to think about their financial needs and ensure they have adequate capital to allow them to grow or consolidate their business.

“The BetterBusiness Residential Loan is one of the most competitively priced business loans, secured by residential property, we’ve seen in Australia.”

The BetterBusiness Residential Loan features:

• A 12 month honeymoon rate of 5.99% pa*.  At the end of the honeymoon rate period, the loan converts to the then standard Residential Equity Rate.
• It applies to new residentially secured BetterBusiness Residential Loans of $50,000 or more for business purposes only.
• Targeted at owner-operator businesses through to larger commercial operations.

- Ends -

Media inquiries:

Bryan Fitzgerald
Commonwealth Bank
Phone: (02) 9378 2663
Email: fitzgeb@cba.com.au

*The 12 month honeymoon rate of 5.99% pa is subject to change. The standard Residential Equity Rate is currently 7.32% pa but is also subject to change. Applications for finance are subject to credit approval.  Full terms and conditions included in the loan offer.  Bank fees and Government charges apply.

Notes to Editors:

For more information about the BetterBusiness Loan or any other Commonwealth Bank products, customers can contact a Business Banker on 13 1998 during business hours; or visit the Bank’s Business Lending website at http://business.commbank.com.au/.