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Business loans to suit your needs

Unsecured business loan

No asset security required


You could borrow1  $5k - $250k
Fixed rates available for 1 – 5 years
Repayment type Principal & interest
Redraw facility available No
Monthly service fee3 $0
  • Guarantees may be required
  • Establishment and other fees apply

Secured business loan

Loan to value ratio of up to 100% depending on security offered*


You could borrow from1 $20k 
Variable rates from2 7.91% p.a.
Repayment types Interest only or principal & interest
Redraw facility available Yes
Monthly service fee from3 $15

Establishment and other fees apply

Benefits of a Westpac business loan

Simple application process

A simple three-page application for loans up to $3m

Choose your repayment frequency

Tailor how often you want to repay based on your cash flow

Flexible loan solutions
  • Choose your loan term and whether to secure you loan with an asset
  • Option to redraw available funds.

Discover your borrowing power in 10 minutes

  • Want to borrow between $10k and $3m? 
  • Looking for a business loan, business overdraft or vehicle and equipment finance?

We can help. Just have these documents handy:

  • Latest annual financial statements or business tax return
  • 12 months' business activity statements from the ATO
  • Signed copy of your lease agreement (only required for property investments)


Enquire now to book in your 10 min borrowing power chat or if you just need to talk through your business needs.


What can I use a business loan for?

A business loan may suit your business if you need funding for:

  • a business acquisition
  • startup costs
  • capital investment
  • property acquisition or development
  • refinancing other lending.


Who can apply?

  • A business entity or an individual 18 years and above, domiciled in Australia; and
  • Requires the funding for business or investment purposes other than investment in residential property; and
  • Meets the credit criteria and credit policy requirements under an applicable offer for this product.

Interest rate options

Depending on whether your loan is secured or unsecured, you may have a choice of a fixed or variable rate. You can make interest only or principal and interest repayments.


  • 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.

What customers have said about their borrowing experience

"We were over the moon and very appreciative of the speed with which we were able to get an approval" (Lawn Mowing business, VIC)


"I was extremely satisfied with how quick we were able to apply and receive our funds. It took away a lot of stress out of our expansion" (Film Producer, QLD)


"Applying was really easy and meant we were able to purchase the property knowing we had the funds" (Bedding retailer, VIC)

Source: Westpac business lending applicants 2023.

How to apply

Get started

Submit an enquiry and we’ll be in touch.

Find out your borrowing power

Our bankers will tell you how much you can borrow in as little as 10 mins^.

Fast and simple application

Complete our simple three-page application#.

Start using your loan

The funds will be available around one business day after you return the signed contract.

Turn your side hustle into a business​

A business loan for startups could help get your dreams off the ground.

Business loan for startups

Frequently asked questions

We’ll ask you three important questions when assessing your business loan application. 


1. Can you afford the business loan?

We’ll need your financials for the last 2 years. This includes: 

  • balance sheets 
  • profit and loss 
  • tax returns 

This information helps us determine whether your business can meet future loan repayments.  


2. Can you provide security for your loan? 

Unless you’re applying for an unsecured loan, you’ll usually need to secure your business loan with an asset or a form of guarantee. Residential, commercial or rural property is often used as security, but it depends on the type of business. 


3. Will you be able to continue making repayments?

We’ll evaluate your business by talking to you about: 

  • your future plans 
  • competitor activity 
  • your suppliers and business contracts.

This helps us determine whether your business will have enough revenue to meet your future repayments. 

If you’re starting a new business, you’ll need to provide a detailed business plan with profit and loss forecasting to support your business loan application. 

If you’re buying an existing business you’ll need to show profit and loss statements for the last 2 years.

Things you should know

Credit criteria, fees, charges, terms and conditions apply. Talk to your banker for more details.​

*Loan amount of up to $3m per customer, with a maximum of $3m in exposure across customer group facilities. Businesses must be operating and profitable for at least two years. Loans only available for purchase of owner-occupied non-specialised commercial property or business expansion. You should consider the increased risks associated with high loan to value ratio borrowing.​

^If you provide the following documents:

  • Latest annual financial statements or business tax return
  • 12 months’ business activity statements from the ATO
  • Signed copy of your lease agreement (only required for property investments)

#For loans up to $3m.

1. Eligibility, credit criteria and type of security determine how much you can borrow. 

2. Rates vary depending on a number of factors, such as loan term and the type of security provided. 

3. Accrues monthly, payable quarterly in arrears. Other fees may apply.

Find out what information you need to provide to become a customer