From growing pains to business gains
A Fast Track Credit Offer can help unlock funds to keep your business moving forward. Available to eligible Westpac business customers.
What is a Fast Track Credit Offer?
Eligible Westpac business customers may be able to access a pre-assessed lending amount and apply for business lending products without the need to submit financials.
Fast Track Credit Offers are:
- Available to existing Westpac business customers who’ve held a Business One or Business One Plus transaction account for at least 12 months
- Based on our data engine’s assessment of your business cashflow.
Sign into online banking to find out if you have a Fast Track Credit Offer and apply for unsecured lending products on the spot. Or speak to one of our bankers.
Use a Fast Track Credit Offer for ...
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Business Overdraft
Access extra funds when your business transaction account drops below $0.
Variable rates from¹8.11%p.a.Establishment and other fees may apply.
Key features
- Tick - Funds typically available in 1 business day after final approval 2
- Tick - Pay interest only on what you use
- Tick - Flexible repayments - repay anytime
- Tick - Unsecured and secured options available
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Business loan
Loans to help startup, run and expand your business.
Borrow from³$10kEstablishment and other fees may apply.
Key features
- Tick - Funds typically available in 1 business day upon final approval 2
- Tick - Variable and fixed interest rate options
- Tick - Choose your repayment frequency
- Tick - Unsecured loan option available
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Equipment Finance
Finance options for the vehicles and equipment your business needs.
Borrow from$15kEstablishment and other fees may apply.
Key features
- Tick - Receive approved funds within 1 business day 4
- Tick - Potential tax benefits 5
- Tick - Choose between a loan, lease or hire purchase
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BusinessChoice rewards platinum credit card
Special offer: Save the $89.50 Qantas joining fee^Business liability credit card with $2,000-$250,000 credit limit.
$150Annual card fee (for each card)20.24%p.a.Variable purchase rate
Key features
- Tick - Earn up to 100,000 Qantas Business Reward points per statement cycle 6
- Tick - Complimentary Insurances 7
- Tick - Bank Feeds to MYOB 8
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BUSINESSCHOICE EVERYDAY credit card
Special offer: Annual Card fee waiver*Business liability credit card with $2,000 - $250,000 credit limit.
$75Annual card fee (for each card)14.25%p.a.Variable purchase rate
Key features
- Tick - Our lowest interest rate and fee business card
- Tick - Up to 55 days interest free 9
- Tick - Business Money Tools
Things you should know
1. Rates vary depending on a number of factors, such as the type of security provided.
2. Receive approved funds in 1 business day for applications that meet the following criteria. Your business must:
- have traded for at least 12 months with a valid ABN or ACN
- turnover more than $75k annually and be registered for GST
- be operating as a sole trader, partnership, trust or company (if the company is a sole director company, the sole director must also be the sole company secretary). Guarantees may be required
- have less than $1.5m in business lending with Westpac
- have ATO payments, loan repayments and employee entitlements (including super) up to date
- not foresee a decline in business revenue that would affect the payment of business liabilities
- not be a franchisee, SMSF or charity
- tell Westpac about all your accounts and liabilities, so we have a complete and accurate view of your business's financial position
- have conditional approval available for the business
- in the past 30 days, have not taken up any additional business lending with any financial institution. The loan will be used for business purposes only and will not be used to refinance any other lending
- not use the loan to start a business, fund a property development or to purchase residential property.
3. Eligibility, credit criteria and type of security determine how much you can borrow.
4. For vehicle or equipment finance applications that meet the following criteria:
- Borrowers who have been operating in the same business with a valid ABN for a minimum of two years, are registered for GST and have a minimum annual income of $75k
- Customers must have an acceptable credit history and must not have outstanding statutory payments
- Existing customers qualify for lending up to $750k total exposure and up to $500k per transaction
- New to bank customers qualify for lending up to $250k total exposure and $150k per transaction
- New to bank customers must own residential property
- Director guarantees are required for incorporated entities
- Only eligible asset types qualify
5. We recommend you seek independent, professional tax advice applicable to your personal circumstances.
^ Qantas Business Rewards membership: A business must be a Qantas Business Rewards Member to earn Qantas Points for the business. A one-off joining fee usually applies (currently $89.50 including GST), however businesses that are not members of Qantas Business Rewards program at the time of application for a BusinessChoice card facility will be offered complimentary membership upon approval of a new Westpac BusinessChoice Rewards Platinum credit card facility. This offer may be withdrawn at any time. Qantas Business Rewards membership and Qantas Points are subject to the Qantas Business Rewards Terms and Conditions available at qantas.com/business.
* BusinessChoice Everyday Annual Card Fee waiver: To be eligible for this offer you must spend $15,000 or more on a specific card each year ending 30 June. Offer applies to up to 99 cards associated with the BusinessChoice facility.
6. BusinessChoice Rewards Platinum reward points: For BusinessChoice Rewards Platinum cards, earn 0.75 Qantas Points per $1.50 spent on eligible business purchases and 0.5 Qantas Points per $1.50 spent on Government payments up to a maximum of 100,000 Qantas Points per facility per month. This limit resets each month based on your facility’s statement date. Bonus Points earned are not a part of your monthly cap.
8. Bank feeds: Not all accounts are eligible to be included in a bank feed. Currently Business Credit Cards and Business Term Deposits accounts aren’t available for third-party service provider’s except MYOB. This may be extended to other third-party service providers in the future. Not all third-party service providers support bank feeds for all accounts. Bank feeds must be set up with third-party service provider before it can be connected in Westpac Online Banking. If your third-party service provider doesn’t appear in the drop-down menu in Westpac Online Banking, you may need to check that your third-party service provider is registered with Westpac. Should there be any changes to your user access or network access levels, you may need to disconnect your bank feed(s) as any access changes.
9. Up to 55 interest free days on purchases when you pay off your Closing Balance in full by the due date shown on your statement each month.