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Macquarie Bank is an independent global financial services group. It offers various business loans including fixed term loans, lines of credit, business overdraft, property-backed loans and bank guarantees. The minimum you can borrow with an overdraft is $50,000, whereas the loan size for other loans is much larger. Macquarie Bank does not service businesses in all industries. If you're not in industries like accounting, architecture, car dealing, engineering, financial services, healthcare, insolvency, insurance, legal, real estate, strata management, surveying and technology, they may not be able to service you. Rates and fees will vary based on how much you borrow, the type of security provided and the product you choose.
The different business loans Macquarie Bank offers
- Fixed term loan. If you're looking to finance growth and development for your business, a fixed term loan from Macquarie could help. Loans are available from $500,000 on terms of Up to 5 years. Macquarie also offers flexible repayments and a diverse range of security options to borrowers.
- Line of credit. If you're looking to increase your business's working capital in the short or medium term, a secured business line of credit may work for you. Loans are available from $500,000 on terms of up to 5 years, and you only have to pay interest on what you draw down.
- Business overdraft. Business owners looking for help with short-term cash flow fluctuations can choose to opt for a Macquarie Bank business overdraft. Approved limits start from $50,000 and interest is only charged on what you draw down.
- Property-backed loans. Businesses looking to invest in growth can opt for a commercial or residential property-backed business loan. Borrowers can fund the purchase of a commercial property, investment property or expand their businesses. Loan terms can be extended to up to 10 years because they are subject to loan purpose, security and borrower type.
- Bank guarantees. A Macquarie bank guarantee provides vendors with the certainty of payment, improving business cash flow. Express Bank Guarantees are available for fully cash-backed guarantees. They also have no maximum limits for the amount of funds that you can apply for.
Features and benefits of a Macquarie Bank business loan
Features of a Macquarie Bank business loan will vary depending on the loan product that you opt for. Some features that apply to all business loans include:
- Industry specialised. Macquarie only works with businesses in industries that it has a deep knowledge and understanding of. If you own a business in one of these industries, a Macquarie Bank loan could be right for your business.
- Rates and fees. Rates and fees can vary based on how much you borrow, the type of security provided and the product you choose.
What other products does Macquarie Bank offer?
- Home loans. Macquarie has an extensive range of convenient and unique home loans for people looking to purchase a home, refinance or invest in a property.
- Bank accounts. Macquarie has a wide range of bank accounts including transaction accounts, high-interest savings accounts and term deposits.
- Private banking. High net worth individuals and families can opt for a private bank account with Macquarie.
- Business banking. If you're looking to open a business bank account, Macquarie may be able to help meet your needs.
- Credit cards. Macquarie Bank offers a Black Card, Platinum Card and a Ratesaver Card to customers.
- Car loans. Macquarie offers finance for both new and used car purchases.
How to apply for a Macquarie Bank business loan
To apply for a business loan with Macquarie, simply click "Go to site" to visit the website directly and request a call back. In order to apply for business finance with Macquarie you will need:
- To be 18 years old or over
- An active ABN or ACN
- Some form of loan security
Other eligibility criteria, such as a minimum annual turnover and minimum time in business may apply. All Macquarie business loan applicants are subject to credit approval. Before submitting an application, it's a good idea to compare other business finance options.
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