Bendigo Business Flexi Loan

Switch between interest-only and principal and interest payments. Find out your interest rate and fees once you apply.

This business loan from Bendigo Bank allows you to choose between a fixed or variable rate of interest and repayment options. You can repay your loan by paying principal and interest or interest-only. Loan terms for a fixed rate loan are between 1 year to 10 years, while you can get up to 20 years with a variable rate loan. This loan has a redraw facility, with a minimum redraw of $5,000 but you will be charged a $50 fee for additional repayments. How much you can borrow will depend on your current assets and liabilities, outstanding debt and security offered. An outline of your interest rates and fees will be made available after you apply. The loan will comes with an establishment fee and a recurring service fee.

Application fee is available upon application

Upfront Fee

1 to 20 years

Loan Term

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Product NameBendigo Business Flexi Loan
Max. Loan AmountNo maximum amount
Loan SecuritySecured
Upfront FeeApplication fee is available upon application
Loan Term1 to 20 years

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 and 10 years are available for a fixed rate loan and 1 to 20 years are available with a variable rate. Bendigo Bank will advise the interest rate and fees when you apply.

Features of the Bendigo 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 years.
  • 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 to 10 years. With a variable rate, this extends from 1 to 20 years. 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 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 Business Flexi Loan, you can 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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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
1 to 2 years
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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 to 20 years
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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ANZ Secured Business Loan
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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
3 months to 3 years
2.5% establishment fee
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
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
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
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
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
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
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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