Bendigo Bank Business Flexi Loan Review: fees and features

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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.

20 of 176 results

Finder Score	Min. Loan Amount	Max. Loan Amount	Loan Term	Upfront Fee	Filter Values
Finder Score 8.2 Great ScotPac Boost Business Loan	Finder Score 8.2 Great	$10,000	$500,000	3 months to 3 years	$0 application fee	A business loan for any industry. Borrow between $10,000 and $500,000, with approved loans funded within 24 hours. Minimum monthly turnover of $10,000 and 1 year of trading history required.	Go to site More info Compare product selectionCompare	loading
Finder Score 9.5 Excellent Valiant Finance Business Loan Broker	Finder Score 9.5 Excellent	$5,000	$20,000,000	3 months to 7 years	$0 application fee	A Business Lending Specialist from Valiant Finance can give you access to competitive business loans from over 80 lenders. Loans between $5,000 and $20 million are available. Request a call – your loan can be funded in 1 business day.	Enquire now More info Compare product selectionCompare	loading
Finder Score 5.5 Standard ebroker Business Loan	Finder Score 5.5 Standard	$5,000	$5,000,000	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.	Enquire now More info Compare product selectionCompare	loading
Finder Score 7.9 Great Prospa Small Business Loan	Finder Score 7.9 Great	$5,000	$500,000	3 months to 3 years	3.5% origination fee	Small business loans are available from $5,000 - $500,000 on terms of up to 3 years. At least six months trading history and a monthly turnover from $5,000 is necessary.	Go to site More info Compare product selectionCompare	loading
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Finder Score 5 Standard Zip Business Trade Plus	Finder Score 5 Standard	$3,000	$150,000			More info Compare product selectionCompare	loading
Finder Score 7.1 Great ScotPac Selective Invoice Finance	Finder Score 7.1 Great	$10,000	$1,000,000	1 to 3 months	$500	Finance your unpaid invoices on demand with terms of 1 - 3 months. 95% of invoice is paid upfront, with no minimum trading history required.	Go to site More info Compare product selectionCompare	loading
Finder Score 5.5 Standard Bizcap Secured Business Loan	Finder Score 5.5 Standard	$5,000	$7,500,000	3 months to 1 year	3% starting at $399	More info Compare product selectionCompare	loading
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Finder Score 8.3 Great Prospa Unsecured Business Loan	Finder Score 8.3 Great	$5,000	$150,000	3 months to 2 years	3% origination fee	An unsecured business loan available up to $150,000 that can be funded in 1 business day. You must provide 6 months of trading history, 3 months history of existing business purchases and have a turnover of $6,000+ per month.	Go to site More info Compare product selectionCompare	loading
Finder Score 8.5 Great Prospa Secured Business Loan	Finder Score 8.5 Great	$150,000	$500,000	3 months to 3 years	3% origination fee	A secured business loan available up to $500,000 that can be funded in 1 business day. Your business must have a turnover of at least $6,000 per month and you must provide 6 months of trading history and 3 months history for existing business purchases.	Go to site More info Compare product selectionCompare	loading
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Finder Score 8.8 Great Southern Cross Credit Union Business Loan	Finder Score 8.8 Great	$50,000	No maximum amount	1 to 30 years	$699 + 0.25% + loan amount	Get business finance tailored to your needs, with funds available 24 hours after settlement.	More info Compare product selectionCompare	loading
Finder Score 8.7 Great Gateway Commercial Plus Property Loan	Finder Score 8.7 Great	$4,000,000	$10,000,000	1 to 30 years	0.40% of the total loan amount (for standard applications)	A business loan for commercial property, with borrowing amounts between $4,000,000 and $10,000,000. Redraw available and loan terms range up to 3 years.	More info Compare product selectionCompare	loading
Finder Score 8.6 Great Service One Business Loan	Finder Score 8.6 Great	$5,000	$1,000,000	1 to 15 years	$400	A business loan with fixed or variable interest rate options. Choose between paying principle and interest or interest only for a period.	More info Compare product selectionCompare	loading
Finder Score 8.5 Great CommBank BetterBusiness Loan Most Loved	Finder Score 8.5 Great	$10,000	$1,000,000	1 to 30 years	Depends on application and whether or not security provided	Borrow up to $1,000,000 with a varied loan term of 12 months to 3 years.	More info Compare product selectionCompare	loading
Finder Score 8.8 Great NAB Vehicle & Equipment Finance Offer	Finder Score 8.8 Great	$10,000	$150,000	1 to 5 years	$500 initial set up fee	Benefit from a low fixed rate and no upfront deposit to purchase vehicles and equipment for your business.	More info Compare product selectionCompare	loading
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Bendigo Business Flexi Loan

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

How does the Bendigo Bank Business Flexi Loan work?