BOQ Business Term Loan
We currently don't have this product on Finder
- Upfront Fee
- 0.75% application fee
- Loan Term
- 1 to 30 years
Summary
Borrow from $10,000 with terms up to 30 years. Interest charges and fees apply.
BOQ will also make a $500 donation to a BOQ charity partner of your choice.
You must apply by 31 December and the loan must be funded by 28 February 2026. Full T&Cs apply.
A BOQ business term loan can help business owners at any stage of their business. Whether you're just starting out, hoping to grow your existing business or you just need some flexible access to cash, this might be the loan for you.
With loan terms up to 30 years and maximum borrowing limits based on your security value, the BOQ business term loan can suit any business. Take a look at the key features and details below to see if it works for yours.
Details
Product details
| Product Name | BOQ Business Term Loan |
| Min. Loan Amount | $10,000 |
| Max. Loan Amount | No maximum amount |
| Loan Security | Secured |
| Upfront Fee | 0.75% application fee |
| Loan Term | 1 to 30 years |
How does the BOQ Business Term Loan work?
This loan can be used for any business-related purpose, from purchasing equipment to investing in property.
You can borrow from a minimum of $10,000, but the maximum amount depends on your own LVR. You can't borrow more than 90% LVR.
Loan terms can be a maximum of 30 years. You can 100% secure the loan against residential property or you can secure against non-residential property or mixed securities.
Interest rates will depend on the type of interest chosen and security offered. You can make weekly, fortnightly or monthly repayments towards the loan and if you're on a variable rate you can make unlimited extra repayments. On a fixed rate you can make additional repayments of up to $10,000 a year.
What features does the BOQ Business Term Loan offer?
- Special offer. Up to $5k valuation fee waived, plus $500 donation to a BOQ charity of your choice. Must apply by 31 December and be funded by 28 February 2026. Full T&Cs apply.
- Fixed or variable rate. You can choose either a variable or fixed rate, depending on what suits your business.
- Flexible repayment options. You can make principal and interest, or interest-only repayments for up to a maximum of 10 years. You can also make weekly, fortnightly or monthly repayments based on your business cash flow.
- Unlimited additional repayments for variable rate. You can make as many additional repayments as you want with a variable rate loan. With fixed rate loans, you can make additional repayments of $10,000 every 12 months.
- Redraw facility. You can redraw your additional repayments with the variable rate loan.
How much does the BOQ Business Loan cost?
The following costs apply for this loan:
- Interest charges.
- Variable rate. The standard variable rate is 6.90% p.a. for residential property, or 6.80% p.a. for other types of security. A discounted variable rate may apply on new loans with a minimum lending amount of $200,000.
- Fixed rate. This varies based on the number of years the loan is fixed. You need to enquire to find out what fixed rate you'd be given.
- Application costs. An application fee of 0.75% of the loan amount with a minimum of $750.
- Monthly service fee. This costs $25 per month.
How to apply for the BOQ Business Term Loan
BOQ will request personal and company information as part of the application, as well as information about your assets, liabilities and existing loans.
You will be asked to supply the following information about the loan:
- Whether or not the loan will be held by a trust
- Details of all signatories and partners
- Personal and company financial information
Other required documents include:
- A current Australian driver's licence
- A valid Australian passport
- A tax file number (optional)
Applying for a business loan is a good way to progress your business without digging into working capital. However, it's important that the loan product you choose is suited to what your business can afford, especially if you're using commercial or residential property as collateral.
Sources
Your reviews
Elizabeth Finder
Journalist
Hi there, looking for more information? Ask us a question.
You are about to post a question on finder.com.au:
- Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
- finder.com.au is a financial comparison and information service, not a bank or product provider
- We cannot provide you with personal advice or recommendations
- Your answer might already be waiting – check previous questions below to see if yours has already been asked
Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms Of Service and Finder Group Privacy & Cookies Policy.
This site is protected by reCAPTCHA and the Privacy Policy and Terms of Service apply.