BetterBusiness Loan

A BetterBusiness Loan can help you fund company growth or finance a business initiative.

This loan facility offers the flexibility of fixed and variable interest rates, with a choice of repayment options to suit your cash flow requirements.

Features
A BetterBusiness Loan is available for business loans over $50,000 where the loan term is not less than one year. You have the choice of the following interest rate options:

• Fixed rate (minimum loan amount $50,000). Can be fixed for between one and seven years (up to 10 years for agribusiness customers), protecting you from upward movements and providing the assurance of fixed payments.
• Fixed rate residentially secured (minimum loan amount $100,000). Can be fixed for between one to five years. The interest rates are linked to the home loan fixed interest rates.
• Variable rate. Allows you to benefit from downward interest rate movements and gives you the flexibility to redraw funds paid in addition to the minimum loan repayments.
• Variable rate residentially secured. The applicable rate is the residential equity rate (does not move in line with the Home Loan Standard Variable Rate or Residential Equity Rate). This allows you to benefit from downward interest rate movements and gives you the flexibility to redraw funds paid in addition to the minimum loan repayments.

Flexible loan structuring
Your loan can be split between fixed and variable interest rates:

• At the end of any fixed interest rate period, you have the option of switching from a fixed to a variable rate at no cost.
• For a variable rate loan, you can switch to a fixed rate at any time at no cost.
• Interest-only or principal and interest repayments are available.

Flexible terms
Terms range from one year up to 30 years (depending on the security provided) to help meet your funding needs. You will be able to:

• Manage your cash flow with flexible repayment options
• Manage your interest rate risk by gaining flexibility around fixed and variable rates
• Benefit from a fee-free redraw facility (variable rate loans only)

• Applications for finance are subject to the Bank’s normal credit approval. Full terms and conditions are included in the loan offer. Bank fees and charges may apply.