Bendigo Business Term Loan

Main points to consider with the Business 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 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 25 years, starting at . 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 . This is the case no matter which loan type you decide to go with.
• A service fee of . 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 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 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 Term Loans, you can compare other business loans here.

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Finder Score	Min. Loan Amount	Max. Loan Amount	Loan Term	Upfront Fee	Filter Values
Promoted Finder Score 8.2 Great ScotPac Boost Business Loan	Finder Score 8.2 Great	$10,000	$500,000	6 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 siteView details Compare product selection Compare	loading
Finder Score 9.5 Excellent Valiant Finance Business Terms Loans	Finder Score 9.5 Excellent	$5,000	$500,000	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 80 lenders. Loans between $5,000 and $20 million are available. Request a call – your loan can be funded in 1 business day.	Enquire nowView details Compare product selection Compare	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 nowView details Compare product selection Compare	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 siteView details Compare product selection Compare	loading
Finder Score Scotpac Line of Credit	Finder Score		$500,000	Up to 2 years	Establishment fee of 3% of the facility limit		Go to siteView details Compare product selection Compare	loading
Finder Score 8.4 Great Prospa Unsecured Business Loan	Finder Score 8.4 Great	$5,000	$150,000	3 months to 5 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 siteView details Compare product selection Compare	loading
Finder Score 8.5 Great Prospa Secured Business Loan	Finder Score 8.5 Great	$150,000	$500,000	3 months to 5 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 siteView details Compare product selection Compare	loading
Finder Score 7.9 Great ScotPac Invoice Finance	Finder Score 7.9 Great	$200,000	$200,000,000	1 to 2 years	Establishment fee 1% of the limit		Improve your business cash flow by financing your outstanding invoices. No minimum trading history required, but minimum 12 - month term and $200,000 in invoices.	Go to siteView details Compare product selection Compare	loading
Finder Score 8.5 Great People's Choice CU Variable Rate Business Loan	Finder Score 8.5 Great	$50,000	$1,000,000	1 to 25 years	$600 (loans up to $80,000) & 0.75% of loan (loans greater than $80,000)		A variable rate business loan from as low as $50,000 with the option to pay interest only for up to 25 years, no extra repayment fees, and no ongoing monthly fees.	ContinueView details Compare product selection Compare	loading
Finder Score 8.2 Great NAB Vehicle & Equipment Finance	Finder Score 8.2 Great	$10,000	$150,000	1 to 5 years	$600 initial set up fee		Benefit from a low fixed rate and no upfront deposit to purchase vehicles and equipment for your business.	ContinueView details Compare product selection Compare	loading
Finder Score 4.5 Basic Macquarie Bank Business Loans	Finder Score 4.5 Basic	$500,000	No maximum amount	Up to 5 years	based on how much you borrow		A business loan that allows you to make scheduled repayments, making it an ideal financing solution for business growth and development	ContinueView details Compare product selection Compare	loading
Finder Score 6.7 Standard St.George Business Loan for Startups	Finder Score 6.7 Standard	$10,000	$50,000	Up to 5 years			ContinueView details Compare product selection Compare	loading
Finder Score 6.8 Standard Community First Bank Business Loan	Finder Score 6.8 Standard		No maximum amount	1 to 10 years	$750		Redraw facility and early payment without penalties available. To be secured against commercial or residential property.	ContinueView details Compare product selection Compare	loading
Finder Score 8 Great TruePillars Business Loan	Finder Score 8 Great	$30,000	$300,000	1 to 5 years	from 4% Establishment fee		Benefit from TruePillars innovative loan marketplace, with loans from $30,000 available.	ContinueView details Compare product selection Compare	loading
Finder Score 5.5 Standard Octet Invoice Finance	Finder Score 5.5 Standard	$100,000	$10,000,000	1 month to 2 years	No Set Amount		Convert up to 85% of your company's receivables into cash flow. The value of your receivables need to be worth at least $250,000 to be eligible.	ContinueView details Compare product selection Compare	loading
Finder Score 7.1 Great Great Southern Bank Business+ Unsecured Loan	Finder Score 7.1 Great	$20,000	$50,000	1 to 3 years	$495		ContinueView details Compare product selection Compare	loading
Finder Score 5.4 Standard Zool Capital Business Loan	Finder Score 5.4 Standard	$25,000	$2,000,000	6 months to 4 years			Apply for a loan from $25,000 to $2,000,000 Repayments are made in monthly instalments over a period of to 4 years.	ContinueView details Compare product selection Compare	loading
Finder Score 6.6 Standard Shift Business Overdraft	Finder Score 6.6 Standard	$10,000	$1,000,000	1 month to 5 years	$0		A business overdraft that links to your business transaction account so you can pay your costs with confidence.	ContinueView details Compare product selection Compare	loading
Finder Score 7.2 Great Key Factors Selective Invoice Finance	Finder Score 7.2 Great	$0	$3,000,000		$0		Get access to funds in 4 hours. Pay as you use with no minimum, up to 80% advance on invoices, no lock-in contract and transparent fees. Note: Must have annual sales turnover between $500,000 and $30 million.	ContinueView details Compare product selection Compare	loading
Finder Score 7.3 Great Beyond Bank Business Loan	Finder Score 7.3 Great	$5,000	No maximum amount	1 to 7 years	$295		Finance a business loan to put your plan into action with flexible repayment options.	ContinueView details Compare product selection Compare	loading

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