What's a Restarter Loan? 

  • As part of the SME Recovery Loan Scheme, the Restarter Loan is designed to support business customers who have been adversely economically affected by the Coronavirus Pandemic and want to borrow a set amount over a set loan term.
  • For customers who meet the eligibility criteria under the SME Recovery Loan scheme and have an Australian Business Number (ABN).
  • It’s flexible to your needs. Choose your loan term, repayment frequency and type (interest only, principal and interest, or both) and loan security type.

Could your business benefit?

A great rate to help you restart and a repayment holiday if you need it

  • Borrow up $5 million, secured or unsecured (lending criteria applies)1
  • From 3.25% p.a. variable rate for unsecured loans, and from 3.75% p.a. with a repayment holiday2
  • From 2.60% p.a. variable rate for secured loans, and from 2.85% p.a. with a repayment holiday2
  • Repayment holidays of 3,6,9 or 12 months on principal & interest loans.

Flexible loan term and security

  • Restarter Loans may be secured or unsecured. Guarantees from Directors may also be required
  • Loan security is how you guarantee to the Bank that you’re able to meet the costs of the loan
  • Restarter Loans may be used to refinance eligible commercial debt

A quick decision, so you can focus on getting back to business

Eligible customers could receive a conditional approval within 24 hours3 of submitting their application, and have funds in their account in just a few business days

Eligibility

A Restarter Loan may be suitable for:

  • Small to medium sized businesses with up to $250 million turnover, including those self-employed, and not-for-profits
  • Your business has been adversely economically affected by the coronavirus pandemic
  • Must have an Australian Business Number (ABN)
  • Available to current and new CommBank business customers
  • Meet the eligibility criteria under the Government’s SME Recovery Loan scheme 

Your repayment options

You can make interest-only or principal and interest repayments. All Restarter Loans come with a variable interest rate.

Choose a combination

  • You can make interest-only or principal and interest repayments
  • You can also choose a combination of both - for example, interest-only repayments for a set period, and then principal and interest repayments 
  • Your business banker will help you work out what works best for you and your business

Variable interest rate 

  • With a variable rate, your interest rate could change. This usually happens when the Reserve Bank of Australia (RBA) changes the official cash rate
  • You could benefit when interest rates are decreased, but you won't be protected if they increase
  • You could pay your loan off quicker with extra repayments

Rates & fees

Rates depend on the type of security you provide for your loan, your loan amount, and other factors. There is no Establishment Fee, Service Fee or Monthly Loan Service Fee.

Security
Loan Term
Variable Interest rate
Up to 12 Month Repayment Holiday
Secured
Up to 5 years
2.60%
2.85%
Secured
Up to 7 years
2.90%
3.15%
Secured
Up to 10 years
3.20%
3.45%
Unsecured
Up to 5 years
3.25%
3.75%
Unsecured
Up to 7 years
3.55%
4.05%

How to apply

Enquire about a new loan

You can enquire or apply over the phone by calling 13 19 98, 24/7.

Or request a callback and we’ll get in touch with you in 1-2 business days.

Request a callback

Things you should know

As this information has been prepared without having regard for your individual and/or business objectives, financial situation or needs, you should, before acting on this information, consider its appropriateness to your circumstances. This information is current as at 19 November 2021 and is prepared without taking into account your individual and/or business needs and objectives. CommBank has the right to change or cancel this offer at any time without notice. The statements and content of this fact sheet have been sourced from various government publications and summarised. CommBank disclaims, to the extent permitted by law, all warranties, representations or endorsements, express or implied, with regard to the material and does not accept any liability in relation to the quality, operability or accuracy of the material.

1 These products are only available to approved business customers and for business purposes only. Customers need to meet eligibility criteria of the Government SME Recovery Loan Scheme Rules including, impacted by coronavirus or other eligible criteria, be a small to medium sized business with an annual turnover less than $250 million in the financial years 2019-20, 2020-21 and/or 2021-22 and have an ABN. Under the Scheme Rules businesses are able to borrow up to a maximum of $5 million across all lending products and finance providers. This offer cannot be used to purchase residential property or financial products, or to provide loans to associated entities. Applications for finance are subject to the Bank's eligibility and suitability criteria and normal credit approval processes. Applications can be submitted to 17 December 2021 and must be approved by 31 December 2021. Rates are subject to change. Fees, charges, terms and conditions apply. See full Government SME Recovery Loan Scheme Rules.

2 Credit provided by the Commonwealth Bank of Australia.  These products are only available to approved business customers and for business purposes only. Applications for finance are subject to the Bank's eligibility and suitability criteria and normal credit approval processes. View our Current Terms and Conditions for Business FinanceFinancial Services Guide and Business Transaction Account terms and conditions and consider them before making any decision about these products. Rates are subject to change. For current interest rates, visit business banking rates and fees. Fees, charges and Terms & Conditions apply.

3 A lending decision within 24 hours is subject to the Bank's eligibility and suitability criteria.