Auswide Bank Business Line of Credit

Get personalised support from a business banker when you take out a Business Line of Credit from Auswide Bank.

The main features of this line of credit offered by Auswide Bank are the large minimum and maximum amounts you are able to apply for. This is based on the type of security you can provide for the loan, which includes cash, a commercial property or a residential property.

The amounts you can apply for start from $50,000 and end at $5,000,000. With these amounts you can ride out irregular capital purchases or finally invest in that business opportunity that would really benefit your business. Read on to learn more about this line of credit and some of the benefits that are offered.

How does the Auswide Bank Business Line of Credit work?

You must be a member of Auswide bank in order to apply for this loan. On application, Auswide will ask for your business details and your current assets and liabilities position to determine whether or not you have the capacity to pay off the amount you’ve applied for. As this is a line of credit, you only make interest repayments on the amount you have drawn, so you could go for months without having to make a single repayment on this line of credit.

Features of the Auswide Bank Business Line of Credit

Here are some of the features with this line of credit:

  • Personalised support. You have access to business bankers who are interested in helping your business grow. They can be contacted via email, over the phone or in face-to face-meetings about the growth and future potential of your business.
  • Easy access to funds. With this line of credit, you have easy access to the funds you have been approved for, through the services that are offered with Auswide, up to your approved credit limit. You can access your funds through Internet, mobile and phone banking with the ability to check your loan balance and account history. You also can send secure emails to Auswide through these services.
  • Large limits. You have access to a limit that starts at $50,000 and can stretch up to $5,000,000. This is bound to help the cash flow of your business as well as irregular capital expenditures.
  • Free statements. You have access to one free statement per month with this line of credit.
  • Large LVR limits. Depending on what type of security you offer for this line of credit, you can arrange a limit of up to a 70% loan to value ratio (LVR) on commercial or 80% LVR on residential security.
  • Split your credit limit. You are able to split your overall credit limit into Access Accounts for different loan purposes.
  • Varied security types. You are able to offer cash, residential property or commercial property in order to ensure your line of credit is secured.

How much does the loan cost?

There’s a variety of fees you should expect with this loan:

  • An account service fee of $25 a month.
  • A $20 fee if you request a fund transfer to another Australian financial institution on the same day.
  • A paper statement feeof $1 per printed statement.
  • If you want an additional statement, the cost is $7.50 per statement.
  • A $25 dishonour fee per rejection, which applies for electronic debit rejections and cheque dishonours.
  • A $5 charge for a direct debit payment.
  • A $7.50 charge for wanting to stop a direct debit to your account.
  • If you use another financial institution and use Auswide to process that payment, there is a $5 charge.
  • A $20 same-day payment charge on a real-time basis.
  • A telegraphic transfer fee (if you want to send funds overseas) of $50 per transfer.

How to apply for the Auswide Bank Business Line of Credit

In order to be eligible for this line of credit, you click on “Go to Site” and meet the following:

  • Be an Auswide customer. This is important so that you will have access to the line of credit funds you need.
  • Be a registered business within Australia.
  • Offer a type of security with the loan, whether it be cash or residential or commercial property.

Some documents you might be asked to show are:

  • Evidence your business has been trading for at least 12 months.
  • Your current asset and liabilities position, as Auswide wants to be sure you’re going to be able to meet your commitment to this loan.

With easy access to funds and interest-only terms, this line of credit is one to consider for your business. Always investigate whether it meets your individual business needs before applying.

Comparison of other business loans

Whilst we don't directly compare the Auswide Bank business line of credit, compare other business loans offering similar features.

Rates last updated November 17th, 2018
Name Product Min Loan Amount Max. Loan Amount Loan Term Application Fee Product Description
NAB QuickBiz Loan
$5,000
$100,000
1 to 3 years
$0
Apply for up to $100,000 and get a response within 60 seconds. No upfront or ongoing fees and a transparent fixed rate.
Lending Express Business Loans
$5,000
$500,000
0.25 to 2 years
$0
Apply online for up to $500,000 and get access to over 25 lenders through Lending Express.
Valiant Finance Business Loan Broker
$5,000
$1,000,000
0.25 to 5 years
$0
A Small Business Lending Specialist from Valiant Finance can give you access to competitive business loans from over 60 lenders. Loans between $5,000 and $1 million are available. Request a call – your loan can be funded in 1 business day.
Note: If you apply and have your loan settled in November 2018, you will recieve $250 cash-back.
Moula Business Loan
$5,000
$250,000
0.5 to 2 years
$0
A loan of up to $250,000 that can be approved and funded within 24 hours. Available to businesses with 6+ months operating history and $5,000+ monthly sales.
Spotcap Loans
$10,000
$400,000
0.25 to 2 years
$0
Benefit from a fixed interest rate and no upfront fees with a loan available up to $400,000. Must have been operating for at least 18 months and have turnover over $200,000.
GetCapital Flexible Business Loan
$5,000
$500,000
0.5 to 2 years
Initial draw down fee
A flexible business loan up to $500,000 with convenient top up and redraw facilities. Business must have been operating for 9 months+ and have monthly sales of $10,000+
businessloans.com.au Flexible Business Loan
$5,000
$500,000
0.5 to 2 years
Initial draw down fee
A business loan up to $100,000 for unsecured loans, or $500,000 for secured loans that you can use for any business purpose. Transparent costs and redraw facility available.
OnDeck Business Loans
$10,000
$250,000
0.5 to 2 years
2.5% origination fee
Apply for up to $250,000 and receive your approved funds in one business day. Minimum annual turnover of $100,000 and 1 year of trading history required.
ANZ Unsecured Business Loan
$10,000
$1,000,000
15 years
$600
You can choose a fixed or variable interest rate
Apply for a loan from $10,000 with no security required and benefit from flexible repayment terms.

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