ANZ Business Loan
- Upfront Fee
- Subject to negotiation and will be detailed in your Letter of Offer
- Loan Term
- 1 to 30 years
Summary
You can choose between loan types, interest and repayment options. The loan comes with approval and administration charges.
With ANZ’s business loan, you can borrow from $10,000. You can choose between an unsecured or secured loan. With a secured business loan, you could get a lower interest rate. There are also several repayment options, including repaying the principal and interest, or paying interest only and a lump sum balloon payment at the end of the loan term. The loan comes with various fees and charges. Loan approval fees, loan administration charge can vary, making it harder to calculate the cost of the loan before application.
Details
ANZ Unsecured Business Loan
| Product Name | ANZ Unsecured Business Loan |
| Min. Loan Amount | $10,000 |
| Max. Loan Amount | $500,000 |
| Loan Security | Unsecured |
| Upfront Fee | Subject to negotiation and will be detailed in your Letter of Offer |
| Loan Term | 1 to 30 years |
ANZ Secured Business Loan
| Product Name | ANZ Secured Business Loan |
| Min. Loan Amount | $10,000 |
| Max. Loan Amount | No maximum amount |
| Loan Security | Secured |
| Upfront Fee | Subject to negotiation and will be detailed in your Letter of Offer |
| Loan Term | 1 to 30 years |
How does the ANZ Business Loan work?
Your business can apply for a minimum of $10,000. The loan terms are dependent on whether or not you want a fixed or variable rate loan.
The fixed rate loan terms are a maximum of 10 years and the variable rate loan terms are up to 30 year(s). Once you've applied for the loan and been approved for the amount you've applied for, the funds will be in your account within the terms specified by the ANZ business banking specialist.
Features of the ANZ Business Loan
Some of the features of this loan include:
- Unsecured or secured loan terms. There is the option to choose between a secured or unsecured loan term. The secured option requires that you put an asset against the loan, which brings benefits such as a lower interest rate.
- Variable or fixed interest rate terms. There are three different interest rate types to choose from: a variable rate with a loan term of up to 30 year(s), a fixed rate with interest in arrears (due at the end of the loan period) with a loan period of up to 10 years, and a fixed rate with interest in advance and a loan period of up to 5 years.
- Varied repayment options. You can choose between repaying the principal and interest or paying interest only and a lump sum balloon payment of up to 100% of the loan amount at the end of the loan term.
- Varied repayment terms. There are varied loan repayment terms depending on which loan you choose. With the variable rate loan you can repay the loan weekly, fortnightly, monthly, quarterly, half-yearly, yearly or seasonally. With the fixed rate loan you can repay the loan in monthly, quarterly, half-yearly or yearly installments.
- Large minimum amount. The minimum amount for this loan is $10,000.
How much does the loan cost?
With this loan the following fees apply:
- Loan approval fee which is subject to negotiation and detailed in your letter of offer
- A loan administration charge that varies depending on how much you want to borrow
- A renegotiation fee of $600
How to apply for the ANZ Business Loan
You can apply for this business loan through an online enquiry, over the phone or meet with a business banking specialist at your local ANZ branch. However, there are some eligibility requirements to be aware of before applying:
- You must be over the age of 18.
- You must be a sole trader, or a director, and the key financial decision maker for your business.
- You have to use the loan for business purposes.
- Your business banking specialist can help you with these and any other queries before applying.
Your reviews
Alex Finder
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Richard Whitten Finder
October 23, 2023
Hello Colin,
At Finder we list various loan options and provide information but we do not provide loans directly. I suggest contacting a lender if you are interested in one of its loans.
Colin
October 21, 2023
I Need $50K business loan I can Secure as I have between $800K and $1M in my home.