Auswide Bank Business Term Loan

Borrow from $20,000 up to $5,000,000. Costs include interest charges, establishment, valuation, rate lock and other fees.

This business term loan offered by Auswide Bank has large minimum and maximum amounts, ranging from $20,000 up to $5,000,000. This loan is secured. Depending on the type of security you offer, you can get a limit up to 70% the value of commercial property or 80% the value of residential property. Your term will depend on the security offered, with up to 50 years for commercial or up to 25 years for residential security. Your interest rate will also vary based on the security and whether the rate is fixed or variable. For residential security, your variable rate will be 4.1% p.a., while for fixed it varies from 3.57% p.a., to 3.81% p.a. For commercial or other security, the variable rate is 4.40% p.a., while it ranges from 4.57% to 4.81% p.a. for fixed. The establishment fee will be 0.5% of the loan amount, the minimum being $600. There will also be a valuation fee, solicitor fees, compliance costs and legal agent fees, costs for which vary. The rate lock fee will be greater of 0.15% of loan amount or $250.

0.5% of loan amount - minimum of $600

Upfront Fee

$5,000,000

Max. Loan Amount

Up to 25 years

Loan Term

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Details

Product NameAuswide Bank Business Term Loan
Min. Loan Amount$20,000
Max. Loan Amount$5,000,000
Loan SecuritySecured
Upfront Fee0.5% of loan amount - minimum of $600
Loan TermUp to 25 years

How does the Auswide Bank Business Term Loan work?

You can apply for a minimum of $20,000 up to $5,000,000, with an option to choose between a fixed rate or variable rate. Depending on whether you have a commercial or residential asset, this will impact your loan terms. With commercial security you can get up to 15 years to repay the loan, whereas securing a residential asset can increase your term to 25 years. You can apply for business loans online or over the phone.

Once you have been approved for your loan amount, you will receive a personalised Business Banking Manager who will help you through the process.

Features of the Auswide Bank Business Term Loan

Some features include:

  • Large borrowing rate. You can borrow from $20,000 up to $5,000,000.
  • Fixed or variable rate options. You are able to choose between a fixed rate or a variable rate option, each with their own advantages. With a fixed rate loan, you know what the repayments are going to be because you have locked in that interest rate. With a variable rate loan, you have the option to make extra repayments without charge.
  • Personalised support. Once you have been approved for your loan, you will receive a Business Banker who is dedicated to help your business thrive.
  • Varied loan terms. You can have up to 15 years on commercially secured loans or up to 25 years with a residentially secured business loan.
  • No account fees. There is no fee when you use a Visa Debit Account.
  • Frequent payments. You can make more frequent payments, such as larger repayments than scheduled or lump sum payments throughout the duration of your term.
  • Redraw option. You are able to redraw and access any extra money you've deposited into the loan. This is only available with the variable rate loan option.
  • Internet banking. You have access to Internet, mobile and phone banking for your convenience. This means you're able to check your loan balance, account history and send secured emails at the touch of a button.
  • Startup businesses can apply. With this loan, startup businesses can be eligible to apply. All you need is a very detailed business plan that outlines future cash flow projections and future trading. Auswide Bank needs to see that you're going to meet your commitment to this loan.

How much will the loan cost?

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

  • An establishment fee of 0.5% of your loan amount with a minimum of $600.
  • A fixed interest rate lock-in fee if you decide to lock in the rate prior to the loan being drawn up, which is 0.15% of the loan or $250.
  • An account service fee of $20 a month.
  • If you decide to switch interest types (for example, fixed to variable) there is a fee of $500.
  • Break costs which are quoted to you at the time of your request to switch.
  • A $20 fee if you request a fund transfer to another Australian financial institution on the same day.

How to apply for the Auswide Bank Business Term Loan

To apply for a business loan, click on "Go to Site" and meet the following criteria:

  • Be based in Queensland. Although this isn't a strict requirement, it helps you keep in contact with the personalised business representative assigned to you.
  • Provide a secure asset. If you do not have a commercial or residential asset to secure this loan, you will not be eligible.
  • Have an ABN or ACN. You need to be a registered business within Australia to be eligible for this loan.

The documents you need to provide are:

  • Bank statements from the last 6 months to prove your ability to pay off the loan.
  • A business plan that outlines your cash flow projections and future trading opportunities.

With Auswide Bank's fixed and variable rate options, you're able to get your business off the ground faster. Compare business loans and discover which one meets your needs.

Comparison of other business loans

Whilst we don't directly compare Auswide Bank Business Term Loan, compare other business loans offering similar features.

Name Product Min. Loan Amount Max. Loan Amount Loan Term Upfront Fee Filter Values
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$10,000
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ANZ Unsecured Business Loan
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Subject to negotiation and will be detailed in your Letter of Offer
Apply for a loan from $10,000 with no security required and benefit from flexible repayment terms.
Moula Business Loan
$5,000
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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.
Swoop Finance Business Loan
$1,000
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Depending on your loan contract
Apply online and borrow between $1,000 and $100,000,000. Options for good and bad credit borrowers.
ebroker Business Loan
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$5,000,000
1 month to 30 years
$0 application fee
Small business loans available between $5,000 and $5,000,000. Get access to 70+ non-bank lenders on this independent platform.
ANZ Secured Business Loan
$10,000
No maximum amount
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Subject to negotiation and will be detailed in your Letter of Offer
Benefit from a low rate when you secure this loan with property and/or business assets. Loans from $10,000 available.
Lumi Unsecured Business Loan
$5,000
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3 months to 3 years
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Apply for up to $300,000 from Lumi and benefit from short loan terms, no early repayment fees and once approved receive your funds in just one business day.
Max Funding Unsecured Business Loan
$3,000
$30,000
1 month to 1 year
$0 application fee
An unsecured business loan from $3,000 that offers convenient pre-approval and no early repayment fees.
Valiant Finance Business Loan Broker
$5,000
$1,000,000
3 months to 5 years
$0 application fee
A Business Lending Specialist from Valiant Finance can give you access to competitive business loans from over 70 lenders. Loans between $5,000 and $1 million are available. Request a call – your loan can be funded in 1 business day.
OnDeck Business Loans
$10,000
$250,000
6 months to 2 years
3% of loan amount
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.
Octet Trade Finance
$100,000
$10,000,000
1 month to 2 years
Transaction fee 2.5%
Access a line of credit to pay suppliers in over 65 countries. Borrow from $200,000 up to $7 million.
Prospa Business Loan
$5,000
$300,000
3 months to 3 years
3% origination fee
Small business loans are available from $5,000 - $300,000 on terms of up to 3 years. At least six months trading history and a monthly turnover from $6,000 is necessary.
Westpac Business Loan
$20,000
$3,000,000
1 to 30 years
$0 application fee
Purchase a new vehicle, equipment or support your cash flow with a business finance solution from Westpac.
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