BetterBusiness Loan

 General Lending Rates

• Lending Rate Type: Variable
• Interest Rate: 10.43%, Comparison Rate 0.00%
• Repayment Type: Interest Only
• Loan Purpose:

• Lending Rate Type: Fixed
• Interest Rate: 0.00%, Comparison Rate 0.00%
• Repayment Type: Interest Only
• Loan Purpose:

• Lending Rate Type: Penalty
• Interest Rate: 16.50%, Comparison Rate 0.00%
• Repayment Type: Interest Only
• Loan Purpose:

 Product Features

• Other Additional Information: It's for business customers who want to borrow a set amount of money to pay back over a set loan term. Customers can choose to provide an asset, like a residential and/or commercial property, as security. Depending on whether a loan is secured or unsecured, total loan terms of up to 30 years are available subject to the Bank’s eligibility and suitability criteria. Speak to your Business Banker for more information.

• Other Additional Information: It's suitable for various business costs and investment purposes

• Other Additional Information: It's flexible to your needs. Choose a fixed or variable interest rate, your loan term, repayment frequency and type (interest only, principal and interest, or both), and loan security type

• Balance Transfers Additional Information: You can refinance existing business purpose debt

• Digital Banking Additional Information: Digital access is available via Netbank, CommBank App and CommBiz

• Guarantor Additional Information: For secured loans you can nominate a guarantor during the origination process

• Redraw Additional Information: If you're on a variable interest rate, you may be able to withdraw any additional repayments you make on your loan anytime. You can easily access your redraw online, through NetBank, the CommBank app or CommBiz.

• Relationship Management Additional Information: Relationship management is available for eligible customers

• Other Additional Information: Discounted finance for eligible new environmental projects on your farm. Redraw is not available for Agri Green Loan. Other rates, fees,charges, lending criteria and T&C's apply.

• Other Additional Information: Discounted finance for eligible new projects or assets. Redraw is not available for Business Green Loan. Other rates, fees,charges, lending criteria and T&C's apply.

• Other Additional Information: Borrow up to $100,000 with an up-front establishment fee, 3 month repayment holiday at the start of the loan and pay no interest on your loan. Other rates, fees,charges, lending criteria and T&C's apply.

• Other Additional Information: The SME Guarantee Schemes loans are not available from 30 June 2022. discounted finance for eligible customers was available for loans ranging from $10,000 to $5,000,000. Other rates, fees,charges, lending criteria and T&C's apply.

 Product Eligibility

• Business Additional Information: Businesses of any size, including sole traders, partnerships, trusts and registered companies.

• Business Additional Information: Groups or individuals using the lending facility for business purposes.

• Other - You're More Likely To Be Approved If:. Additional Information: You haven't been overdrawn or had your account in arrears anytime in the past 3 months.

• Other - You're More Likely To Be Approved If:. Additional Information: You haven't been declared bankrupt in the last 5 years.

• Other - You're More Likely To Be Approved If:. Additional Information: You haven't had any accounts in collections in the past 6 months.

• Other - You're More Likely To Be Approved If:. Additional Information: You have a minimum 30% deposit (for secure loans) as well as cash reserves to demonstrate that you can operate the business for at least the first 3 months.

• Other - Boost Better Business Loan. Additional Information: Must have had a CommBank Business Transaction Account for the last 12 months

• Other - Agri Green Better Business Loan. Additional Information: Application for financing must be for an eligible environment project

• Other - Agri Green Better Business Loan. Additional Information: Must have a cash balance or loan balances of more than $1 million, and have a demonstrated farming related income

• Other - Business Green Better Business Loan. Additional Information: Application for financing must be for an eligible project or asse

• Other - Business Green Better Business Loan. Additional Information: Must have a cash balance or loan balances of more than $1 million, and have a demonstrated farming related income

 Bank Fees and Charges

• Loan Establishment Fee (Variable), Amount: 0.00. Additional Information: Rates and fees differ based on the type of security you provide for your loan, your loan amount and other factors. Loan establishment fee apply. We'll confirm what they are in your Letter of Offer.Fees include Loan establishment fee, Monthly loan service fee or other fees. Does not apply for loans funded under the SME Guarantee Scheme. Applies to Business Boost loans funded under the SME Guarantee Scheme.

• Monthly Loan Service Fee (Variable), Amount: 0.00. Additional Information: Rates and fees differ based on the type of security you provide for your loan, your loan amount and other factors. Monthly loan service fee, Other fees apply. We'll confirm what they are in your Letter of Offer. Fees include Loan establishment fee, Monthly loan service fee or other fees. Does not apply for loans funded under the SME Guarantee Scheme.

• Other Fees Apply (Variable), Amount: 0.00. Additional Information: Rates and fees differ based on the type of security you provide for your loan, your loan amount and other factors. Monthly loan service fee, Other fees apply. We'll confirm what they are in your Letter of Offer. Fees include Loan establishment fee, Monthly loan service fee or other fees. Does not apply for loans funded under the SME Guarantee Scheme.

• Early Repayment Adjustment (Variable), Amount: Not Listed.. Additional Information: Does not apply for loans funded under the SME Guarantee Scheme.

• Administration Fee (Event), Amount: 300.00. Additional Information: Does not apply for loans funded under the SME Guarantee Scheme.

• Security Processing Fee (Variable), Amount: Not Listed.. Additional Information: Does not apply for loans funded under the SME Guarantee Scheme.

 Limitations & Restrictions (Constraints)

• Min Limit of 5000.00

• Max Limit of 100000.00 Additional Information: Boost Better Business Loan has a maximum limit of $100,000

• Max Limit of 5000000.00 Additional Information: SME Guarantee Scheme Better Business Loans had a maximum limit of $5,000,000