BankSA Small Business Loans
Borrow from $20,000 up to $3,000,000. Interest rates are variable and other fees are applicable.
BankSA’s small business loan comes with a fixed and variable interest rate option. You can borrow from $20,000 up to $3,000,000. Terms will depend on the type of security offered. For variable rate commercially secured loans, the maximum term is 25 years. For variable rate residentially secured loans, the maximum term is 30 years. With a variable rate loan, you can make additional repayments without penalty and security options include cash, property, a guarantee or business assets. You can also opt between an interest only or principle, interest and fees repayment structure. Interest rates, however, will fluctuate monthly based on market rates. Fixed interest loans, however, provide rate certainty, making it easier to predict repayments and budget. You can also pay interest in advance for a year. Rates for variable loans start from 4.95% p.a. BankSA also has a special offer with lower variable rates from 2.68% p.a., but shorter terms up to 5 years.
The application fee amount is available upon request
Max. Loan Amount
15 to 30 years
|Product Name||BankSA Small Business Loans|
|Min. Loan Amount||$20,000|
|Max. Loan Amount||$3,000,000|
|Upfront Fee||The application fee amount is available upon request|
|Loan Term||15 to 30 years|
How does a loan from BankSA work?
BankSA offers secured business loans to Aussie businesses for a range of loan purposes. If you're looking to support your cash flow, invest in business growth or purchase new equipment for your company, BankSA could have a loan for you.
To apply for a loan from BankSA you will need to have a registered Australian business and valid loan security. Eligible security for BankSA business loans includes cash, commercial or residential property, a guarantee or business assets.
Depending on the type of finance you opt for with BankSA, you may also be eligible for certain tax benefits.
What features does BankSA offer with its loans?
These are some of the features you can expect with a business loan from BankSA.
- Extended loan term. BankSA recently extended loan terms, making them some of the longest loan terms available on the market. Variable rate commercially secured loans are available on terms of up to 25 years (up from 15 years) and variable rate residentially secured loans available on terms of 30 years (up from 25 years). Fixed rate loan terms will depend on your circumstances.
- Secured. BankSA's business loans require cash, property, business assets or guarantees as loan security.
- Loan amount. Loans are available from $20,000. Maximum loan limits will depend on your circumstances and level of security.
- Penalty-free repayments. If you opt for a variable rate loan, you will be able to make additional repayments, penalty-free.
- Fixed or variable rate. You can opt for either a fixed or variable rate with a business loan from BankSA:
- Fixed rate. Interest can be paid in advance for the year, ahead or on a monthly basis to help manage cash flow.
- Variable rate. Flexible repayment structures include interest only or principle, interest and fees.
How much does the loan cost?
Your loan cost may depend on your circumstances, business data, loan security and whether you opt for a fixed or variable rate loan. Here is a general outline of the costs you can expect:
- Interest rate. An interest rate of 2.68% p.a. applies to variable rate loans.
Terms and conditions apply and additional fees and charges are available on request. Please contact BankSA directly or click "Go to site" to find out more.
How to apply
To apply for a BankSA business loan, you can either click "Go to site" for more information, request a call back (this can take up to two business days) or drop into a branch. You will need:
- Your Australian business number – ABN, ACN, ARBN and ARSN are accepted
- Loan security (cash, business assets, commercial and residential property and guarantees are accepted)
Additional business data may be required. Always compare loan options carefully before submitting an application.