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St.George Small Business Loan

Borrow from $20,000 up to $3,000,000. This loan has long terms but interest rates will vary depending on security provided.

Businesses can apply for loans from $20,000 and have their choice of fixed or variable rates. This loan is secured and has a maximum borrowing limit of $3,000,000. Terms vary based on whether the loan is fixed or variable. The maximum term limit for a fixed loan is 15 years, while for variable loans it is 30 years. Their interest rates will depend on various factors, including the security provided. This loan comes with a monthly account keeping fee, an application fee and interest rate charges.

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Application fee is available upon application

Upfront Fee


Max. Loan Amount

15 to 30 years

Loan Term

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Product NameSt.George Small Business Loan
Min. Loan Amount$20,000
Max. Loan Amount$3,000,000
Loan SecuritySecured
Upfront FeeApplication fee is available upon application
Loan Term15 to 30 years

How does the St.George Small Business Loan work?

The St.George Small Business Loan has two options for your business to choose from. One is a fixed rate business loan that is commercially secured and allows the business to apply for amounts of $20,000 and above over 25 years. This has increased from 15 years. The second option to choose from is a variable rate residentially secured loan which allows you to apply for amounts of $20,000 and above with a loan term of 30 years. You ensure that you're a customer of St.George Bank, apply for the loan amount you'd like for your business and wait for approval, which can take a few business days.

Features of the St.George Small Business Loan

Some of the features of this loan are as follows:

  • Increased loan terms. St.George has increased the maximum loan terms on variable rate commercially secured and residentially secured loans. This increase has gone from 15 years to 25 years on commercially secured loans and from 25 to 30 years on residentially secured loans. These increases allow your business more time to pay off the loan.
  • Lump sum repayment options. With this loan, you have the option to make additional lump sum payments throughout your loan. If you have a variable rate loan, you are able to make additional repayments at any time throughout the duration of the loan without penalty. If you have a fixed rate loan, you are able to make a lump sum payment at the end of the loan term without any penalty. However, if you wish to make a lump sum payment before the end of the fixed rate loan term, you will be charged a fee.
  • Option of fixed or variable rate. With this business loan, you have the option of choosing between a fixed rate loan or a variable rate loan. Each loan type has advantages. For example, with the variable rate loan option, you can secure this loan with cash, property or business assets. With the fixed rate loan, you have the certainty of a fixed rate and set repayments which helps you with budgeting costs for your business. The Variable rate for this loan is 2.39% p.a.
  • Flexible repayment options. With your variable rate loan, you can choose between paying interest only, or principal, interest and fees. With your fixed rate loan, you have the option of paying interest in advance for the year or on a monthly basis to help you manage the cash flow of your business.
  • Large minimum amount. You can apply straight away for a minimum of $20,000 with this loan.

How much does the loan cost?

As the rates and fees with this loan are dependent on whether or not you decide to get a fixed rate or a variable rate loan, it's important to keep this in mind before reviewing the fees below. Some of the fees you can expect to be charged with this loan are:

  • A monthly account keeping fee.
  • An initial account application fee for the loan.
  • Interest rate charges. These will change depending on whether you've applied for a fixed rate or variable rate loan.

However, this depends on how much you apply for with St.George.

How to apply for the St.George Small Business Loan

Click on "Go to Site" and ensure that you meet the criteria that are needed for the loan. The only eligibility criterion you need to meet for this loan is to be a registered Australian business. This means you have to produce one or more of the following:

  • Australian Business Number (ABN)
  • Australian Company Number (ACN)
  • Australian Registered Body Number (ARBN)
  • Australian Registered Scheme Number (ARSN)

Another criterion that you need to meet is to be a St.George customer. If you're not one, they have a handy checklist that can help you get all of the documents you need in order to become a St.George customer. As the checklist varies from the ABN to the ACN, it's important that you know what you need in order to become a St.George customer before considering whether to apply for this loan. While this is a competitive business loan to consider, make sure you compare business loans to see which one meets your business needs.

Comparison of other business loans

Whilst we don't directly compare the St.George Small Business Loan, compare other business loans offering similar features.

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Octet Trade Finance
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Prospa Business Loan
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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. Note: Loans approved by 30 June 2022 are eligible for no repayments for the first 8 weeks of their term.

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