Bendigo Business Solutions Term Loan

This secured loan does not have a maximum loan amount. It has two repayment options, but fees and charges apply.

This business loan from Bendigo Bank offers tailored loan terms. You can choose between fixed or variable rates, and repayments that are interest-only or principal and interest. This loan can be secured using residential property, or other assets. As this is a secured loan, it comes with the risk of losing your asset in case you fail to make your repayments. The fixed interest rate starts at 4.99%, while the rate for the variable loan fluctuates. The loan terms are short, up to 5 years. You will have to pay an establishment fee of $800 and a monthly service fee of $15. You will also be charged a fee if you wish to redraw funds.

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Upfront Fee

Up to 5 years

Loan Term

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Product NameBendigo Business Solutions Term Loan
Max. Loan AmountNo maximum amount
Loan SecuritySecured
Upfront Fee$800
Loan TermUp to 5 years

Main points to consider with the Business Solutions Term Loan

To apply for this loan, you are also required to submit your business data, which is used to establish whether you are suitable for the loan. The loan is suitable to make purchases for your business or for refinance. Your home or other assets are used as security for the loan, and the value of your security is used to determine how much you can borrow.

You can choose between a fixed or variable rate for your loan and you can also choose to make principal and interest or interest-only repayments during the loan term. If you choose to make principal plus interest repayments, you can pay fortnightly or monthly. If you opt for interest only, repayments are monthly.

What features does this loan include?

Some of the benefits you can enjoy with a Business Solutions term loan include the following:

  • Loan purpose. This loan can be used to make purchases for your business or to refinance.
  • Repayment options. You can choose between a principal plus interest and an interest-only loan.
  • Assets as security. You are able to use your residential property as well as other assets as security on this loan.
  • Two interest rate options. You have the choice between a fixed and a variable rate loan. The interest rate on a fixed loan is for up to 5 years, starting at 4.99%. The rate of interest on a variable loan fluctuates.
  • Redraw. You're able to access a redraw facility with this loan.
  • Clear repayment terms. If you decide on a principal plus interest loan, you can choose between fortnightly and monthly repayments. The interest-only option requires monthly payments.
  • Access to online banking. You can keep track of your repayments through online banking as well as receive half-yearly statements.

How much does the loan cost?

The fees you can expect to be charged when you take out this loan include the following:

  • An establishment fee or further advance fee of $800. This is the case no matter which loan type you decide to go with.
  • A service fee of $15. This fee is charged monthly to your account.
  • A redraw fee. If you take out a variable loan and need to redraw funds, you will be charged a fee.

How to apply for the Bendigo Bank Business Solutions term loan

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

  • You must be a Bendigo Bank customer. If you are not already a customer, you can join up online, over the phone or at a branch
  • Over 18 years of age
  • Cannot be bankrupt
  • Have an Australian Business Number (ABN) or an Australian Company Number (ACN)
  • Have a residential or commercial asset that you can put forward as security

Once you are sure you meet all the criteria, click on "Go to Site" to begin your application. The information you will need to submit includes the following:

  • Proof of ownership of the asset that you are submitting as part of your application. This can include your house deed.
  • Basic personal details and details of your business, such as how long you have been trading and the name of your company.

A Bendigo Business Solutions Term Loan may sound just right for your company, but you should also compare other business loans to make sure you are getting the best product for your needs.

Comparison of other business loans

While we don't directly compare Bendigo Bank Business Solutions Term Loans, you can compare other business loans here.

Name Product Min. Loan Amount Max. Loan Amount Loan Term Upfront Fee Filter Values
Zip Business Loan
Up to 5 years
No establishment fee
Borrow up to $500,000 with loan terms of up to 5 years. Flexible weekly, fortnightly and monthly repayment options available with no early repayment fees.
Moula Business Loan
1 to 2 years
2% Establishment fee
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
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.
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.
ANZ Secured Business Loan
Up to 15 years
Benefit from a low rate when you secure this loan with property and/or business assets. Loans from $10,000 available.
ANZ Unsecured Business Loan
Up to 15 years
Apply for a loan from $10,000 with no security required and benefit from flexible repayment terms.

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