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Every business is unique, so it's important to find a finance option that's flexible to how your individual business works.
Heritage Bank are offering a secured business loan with both fixed and variable rate options. The Fully Drawn Business Loan can be secured against both residential property and other forms of security and it has a loan term of up to 25 years for residential security, and 15 years for other security types. Interest only and principal and interest repayments are available.
With a minimum loan amount of $20,000, this loan is suitable for people looking to buy a business, purchase property through their business or satisfy longer term working capital goals.
Application fee is available upon application
Upfront Fee
1 to 25 years
Loan Term
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Product Name | Heritage Bank Fully Drawn Business Loan |
---|---|
Min. Loan Amount | $20,000 |
Max. Loan Amount | No maximum amount |
Loan Security | Secured |
Upfront Fee | Application fee is available upon application |
Loan Term | 1 to 25 years |
To apply for a Heritage Bank business loan, you simply need to visit their website by clicking "Go to site" where you can submit an inquiry. Subject to your inquiry, Heritage Bank will get in contact with you for more information regarding your personal details and business data. Once Heritage Bank has determined your eligibility and you would like to move forward with the loan process, you can submit an application.
Heritage Bank's Fully Drawn Business Loan is a flexible business loan for larger business purchases and long-term cash-flow management. There is no limit to the amount of funds you can borrow with this loan as the maximum you will be able to qualify for will depend on your level of asset security. Loans can be secured with either a residential or non-residential property. They can also have a fixed or a variable rate and a loan term of 1-25 years (up to 25 years with residential security, and 15 years with non-residential security). The type of security, the type of rate and the loan term you choose will affect the interest rate of the loan.
As the Heritage Bank business loan can be either fixed or variable in rate, we'll outline the features separately.
How much you pay for the loan will depend on a number of deciding factors. These include the amount of money that you borrow, the rate type and the loan term as well as factors regarding your business and/or personal circumstances. Here's a general outline of the fees that you can expect with this loan:
For more information on these fees, please contact the lender directly.
To apply for a Heritage Bank Fully Drawn Business Loan, click "Go to site" to submit an inquiry. Inquiries will require the following information:
This loan is only available to businesses. This means that you will have to have an active ABN or ACN to qualify for this loan and be an owner, partner or director of a company. It is also a secured loan, so you will have to be either an owner of a residential property or another qualifying asset to be eligible for this loan. You will also have to meet the following criteria:
Prospective applicants should also be aware that they will have to contact Heritage Bank directly before they can fill out an application form. Before applying for a loan, it's always a good idea to compare business loans.