Business Loan

Borrow from $20,000 with a Westpac Business Loan. A fixed or variable rate business loan with flexible repayment options. Only pay interest on the amount you owe.

5.90% p.a. on variable rate on residentially secured business loans. Apply by 31 July 2014. Credit criteria, fees and charges and conditions apply.
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    132 772 

    8am-8pm, Mon - Fri 

Essentials

Choose a fixed or variable rate Business Loan.

Variable rate

  • Special offer: Get 5.90% p.a. on new variable rate Business Loans, residentially secured up to $1m. Apply by 31 July 2014
  • Make extra payments, which could reduce interest paid over the life of the loan
  • Option to swap between interest only or principal and interest repayments
  • Redraw allows you to make extra payments and access these funds later.

Fixed rate

  • Provides certainty in knowing what you're up for with each repayment
  • Protects you from potential future interest rate movements.

Make tax time less taxing

Keep track of your Business Loan balance and financials online (and at tax time, export details of interest paid to your accounting software).

Terms and loan security

The term of your Business Loan will vary depending on security offered (you can always swap if your situation changes):

  • Loan term up to 25 years when residential property used as security
  • Loan term up to 15 years when commercial or rural property used as security.
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Things you should know
  • Fees and charges apply and are available on request. Westpac’s normal lending criteria applies.

    Special offer:  The variable rate of 5.90%p.a. is current as at 3 March 2014. This is a 1.11%p.a. discount off the Business Development Rate for the life of your loan.

    This discount will only apply for new residentially secured loans applied for between 3 March 2014 and 31 July 2014 for loan terms up to 15 years and loan limits up to $1,000,000. Approved facilities must be established and drawn by 30 September 2014. For other security types, additional margins may apply. The Westpac Business Loan is for Business purposes only.

    To apply, or for further information, please speak to your nearest branch or call 132 772.

Fees

  • Establishment fee
  • Monthly loan maintenance fee
  • Other fees apply.
  •  

    Get started online

    We'll be in touch within 1 business day.

    Send us your details
Things you should know
  • Fees and charges apply and are available on request. Westpac’s normal lending criteria applies.

    Special offer:  The variable rate of 5.90%p.a. is current as at 3 March 2014. This is a 1.11%p.a. discount off the Business Development Rate for the life of your loan.

    This discount will only apply for new residentially secured loans applied for between 3 March 2014 and 31 July 2014 for loan terms up to 15 years and loan limits up to $1,000,000. Approved facilities must be established and drawn by 30 September 2014. For other security types, additional margins may apply. The Westpac Business Loan is for Business purposes only.

    To apply, or for further information, please speak to your nearest branch or call 132 772.

Rates

Special offer: Get 5.90% p.a on new variable rate Business Loans, residentially secured up to $1m. Apply by 31 July 2014.

A margin may apply depending on the type of security provided.

Variable rates current on and from 26 August 2013, except the Business Loan special offer rate of 5.90% p.a. current on and from 3 March 2014. 

Fixed rates current on and from 21 June 2014. At the end of the fixed rate period, the interest rate will convert to the variable Business Development rate.

Interest rates p.a.
Type of loanVariable rate
(Base rate only, a margin may apply)
Business Loan - Special offer for new loans up to $1m, applied for from 3 March - 31 July 2014 and drawn by 30 September 2014. Loan must be secured by residential property and a maximum term of 15 years.5.90% p.a
Business Loan
(Business Development Loan)
7.01% p.a.

Interest rates p.a.
TermFixed rate
(Base rate only, a margin may apply)
1 year5.53%
2 year5.67%
3 year5.90%
4 year6.20%
5 year6.60%
7 year7.00%
10 year7.90%
  •  

    Get started online

    We'll be in touch within 1 business day.

    Send us your details
Things you should know
  • Fees and charges apply and are available on request. Westpac’s normal lending criteria applies.

    Special offer:  The variable rate of 5.90%p.a. is current as at 3 March 2014. This is a 1.11%p.a. discount off the Business Development Rate for the life of your loan.

    This discount will only apply for new residentially secured loans applied for between 3 March 2014 and 31 July 2014 for loan terms up to 15 years and loan limits up to $1,000,000. Approved facilities must be established and drawn by 30 September 2014. For other security types, additional margins may apply. The Westpac Business Loan is for Business purposes only.

    To apply, or for further information, please speak to your nearest branch or call 132 772.

About applying

Important Considerations

Here are some important points to consider before applying for a business loan:

  • Security – business loans require security in the form of cash or property.  A guarantee will also be required by company directors for corporate borrowers
  • Credit history - all borrowers, owners, directors and guarantors must have clear credit records. All statutory payments and ATO liabilities need to be up to date and not under arrangement
  • Banking and borrowing history - existing bank accounts and lending products must be within their approved limits
  • Domicile - your business must be registered in Australia

 

Looking to borrow less than $50,000?

Consider our range of business credit cards. Terms and Conditions apply.

  •  

    Get started online

    We'll be in touch within 1 business day.

    Send us your details
Things you should know
  • Fees and charges apply and are available on request. Westpac’s normal lending criteria applies.

    Special offer:  The variable rate of 5.90%p.a. is current as at 3 March 2014. This is a 1.11%p.a. discount off the Business Development Rate for the life of your loan.

    This discount will only apply for new residentially secured loans applied for between 3 March 2014 and 31 July 2014 for loan terms up to 15 years and loan limits up to $1,000,000. Approved facilities must be established and drawn by 30 September 2014. For other security types, additional margins may apply. The Westpac Business Loan is for Business purposes only.

    To apply, or for further information, please speak to your nearest branch or call 132 772.