Bendigo Bank Business Flexi Loan

Benefit from flexibile repayments, with the ability to switch between interest-only and principal and interest payments.

This business loan from Bendigo Bank offers a range of interest rate and repayment options, allowing you to tailor the loan to suit your cash flow needs. You can borrow for a range of business purposes and benefit from features such as redraw. Find out more about this loan and if it's right for your business's needs.

How does the Bendigo Bank Business Flexi Loan work?

The Business Flexi Loan from Bendigo Bank is a term loan that is suitable for a range of commercial and business purposes. The amount you're approved for is dependent on your business's financial situation. The loan terms depend on the interest rate, which can be fixed or variable.

Loan terms of between 1 year(s) and 10 years are available for a fixed rate loan, and 1 year(s) to 20 year(s) are available with a variable rate. Bendigo Bank will advise the interest rate and fees when you apply.

Features of the Bendigo Bank Business Flexi Loan

The Flexi Loan includes the following features:

  • Various repayment options. Bendigo Bank offers a range of repayment options with this loan. You can choose between principal and interest repayments or interest-only repayments and you're able to make your repayments online, over the phone or in a Bendigo Bank branch.
  • Fixed or variable rates. This loan is available with a fixed or variable rate. The variable rate option can extend up to 20 year(s).
  • Repayment methods. Repayments can be made over the phone, online or in a branch.
  • Online banking. You can keep an eye on how much you owe by signing up for online banking.
  • Access to half-yearly statements. Bendigo Bank will send a statement free of charge every six months so you can see how much you have left to pay.
  • Redraw facility. With the variable loan rate option, you can redraw funds whenever necessary. The minimum redraw amount is $5,000.
  • Loan terms. You can choose a fixed rate loan with a lifetime of 1 year(s) to 10 years. With a variable rate, this extends from 1 year(s) to 20 year(s). However, terms for both loans can be extended based on the security offered.
  • Loan amount. When you apply for a loan, the bank will take into account your current assets and liabilities, any outstanding debt, and the kind of security you will put forward. This information will help determine how much you will be able to borrow.

How much does the loan cost?

The total fees associated with this loan depend on the details of your application. However, to give you some idea, here is an outline of fees that you can expect to pay:

  • Establishment fee
  • Service fee
  • A principal reduction fee of $50. This will be charged when you make additional repayments and reduce your loan principal.

How to apply for the Bendigo Bank Business Flexi Loan

In order to be eligible for this business loan, you must meet the following requirements:

  • Be 18 years or older
  • Be using the loan for business or commercial purposes
  • You must not currently be bankrupt or insolvent
  • You must have an Australian Business Number (ABN) or Australian Company Number (ACN).

Once you are sure you meet these criteria, click on “Go to Site” to make an enquiry with Bendigo Bank.

Being able to switch between loan types might seem ideal for your business. However, it’s important to compare other business loans as well, before going ahead with your application.

Comparison of other business loans

Whilst we don't directly compare Bendigo Bank Business Flexi Loan, you can compare other business loans offering similar features.

Rates last updated October 19th, 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.
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.
Prospa Business Loan
$5,000
$250,000
0.25 to 2 years
$0
A business loan available up to $250,000 that can be funded in 1 business day. Must have a turnover of $6,000+ per month and provide 6 months of trading history, 3 months history for existing business purchases.
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.

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