Macquarie Bank Line of Credit
- Loan Term
- Up to 5 years
Summary
Pay interest only for what you draw. Rates and fees vary based on how much you borrow and security provided.
If you need a boost to your working capital in the short or medium term, you can get a line of credit starting from $500,000. This loan has no maximum amounts, but it does require security. Interest is charged only on what you use. Rates and fees are only shared once you apply and can vary, based on how much you borrow and the security provided. Macquarie Bank doesn’t service all industries. You may be able to apply if you work in the accounting, architecture, car dealing, engineering, financial services, healthcare, insolvency, insurance, legal, real estate, strata management, surveying and technology.
Details
Product details
| Product Name | Macquarie Bank Line of Credit |
| Min. Loan Amount | $500,000 |
| Max. Loan Amount | No maximum amount |
| Loan Security | Secured |
| Loan Term | Up to 5 years |
How does a business line of credit from Macquarie Bank work?
Macquarie Bank's business line of credit gives you an approved credit limit, set based on your circumstances, your business's financial position and the security you provide, on a term of up to 5 years.
You can draw down funds as you need them to support working capital and cash flow, and you only pay interest on the amount you've drawn, unlike a term loan where interest is charged on the full lump sum. Other fees and charges may apply.
To apply, request a call or complete an enquiry form on Macquarie's website, or call 1800 442 370. You'll be matched with an industry specialist to discuss your needs. Lines of credit must be secured, for example by property, goodwill, debtors, rent rolls, strata rolls or work in progress.
What features does a Macquarie Bank business line of credit offer?
Some of the features of a Macquarie bank business line of credit include:
- It's secured. Your line of credit can be secured by a diverse range of security options, including goodwill, real estate property, debtors, rent rolls, strata rolls, works in progress or a combination of these.
- Credit limit. Credit limits start from $500,000. There is no maximum credit limit, this amount will depend on your circumstances and your level of security.
- Industry specialised. Macquarie Bank's business lending is focused on specific industries: accounting, architecture, engineering, financial services, healthcare, insolvency, insurance, legal, real estate, strata management, surveying and technology. Lending is also available to property investors. If your business sits outside these areas, you may not be eligible, so check with Macquarie's business banking team before applying.
- Credit term. Receive a term of up to 5 years.
How much does a Macquarie Bank business line of credit cost?
The exact cost of your line of credit will depend on your circumstances, your business data and the type of security that you provide. However, you can expect to pay:
- Interest rate. You'll only pay interest on the funds that you draw down.
- Fees. Other fees and charges may apply, such as establishment, monthly or other ongoing fees set out in your loan agreement.
How to apply
Finder does not currently offer this product, so there is no application link on this page. To enquire, contact Macquarie Bank's business banking team directly via macquarie.com.au and request a callback. In order to be eligible for this line of credit, you will need to:
- Be 18 or older
- Have an active ABN/ACN
- Have an eligible form of loan security
Please note that all applicants are subject to credit approval. Other terms and conditions and eligibility criteria may apply. Please contact Macquarie Bank directly for further details.
It's always a good idea to compare your business loan options carefully prior to submitting an application.
Frequently asked questions
Sources
Your reviews
Bria Finder
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Sarah Megginson Finder
April 06, 2023
Hi there,
To apply for a line of credit you need an asset to secure it against. You mentioned you’ve sold your house; that was the security that your line of credit was approved against.
If you have another property, you may be eligible to apply for a LOC, but if you no longer own a property, you won’t be eligible. In this case, you could apply for an unsecured personal loan.
Hope this helps!
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karazeris
April 02, 2023
I would like to apply for a line of credit. I have one previously but cancelled it once i sold my house.