Suncorp Agribusiness Loan

Need more space for your farm? Take advantage of an Agribusiness Loan by Suncorp to make this dream a reality.

This loan’s main feature is that you have the option to choose what repayment type you want to pay over the loan’s term, meaning you have the option to pay the principle and interest or interest only. This can make a huge difference to your repayments and can help your business’ cash flow so it thrives over the upcoming months. You are in control with the ability to choose which option will most benefit your business, which is a pretty good place to be.

How does the Suncorp Agribusiness Loan work?

The Suncorp Agribusiness Loan starts with your application and approval which will be based upon what type of security you offer up. This will ultimately impact the minimum and maximum amount that you can borrow, and the loan terms which can be set from 1 year(s) and up to 15 year(s). That’s a fair amount of flexibility and time for your repayment.

Once your loan application has been received and approved, a personalised Agribusiness Specialist will help you structure a loan to best meet your business needs and cash flow.

Features of the Suncorp Agribusiness Loan

Some of its features include:

  • A personalised Agribusiness Specialist. Suncorp will assign you an Agribusiness Specialist who will work with you to help find the loan that is most suitable for you. They will help structure a loan that meets your business needs and cash flow and also takes into consideration seasonal fluctuations, which could be vital to your particular industry.
  • Choice between interest rate types. You have the option to choose between a fixed interest rate or a variable rate interest type, each with their own advantages. With a fixed rate loan, you know what your repayments are going to be and this can help you with your cash flow predictions. However, with a variable rate loan, you are able to redraw* money you’ve made through extra repayments on the loan, which is ideal if you need the money in a pinch.
    *Transaction fees apply.
  • Large loan terms. With 1 year(s) as the minimum and 15 year(s) as the maximum, you have plenty of time to watch your business grow and thrive.
  • Varied types of security on offer. You are able to put residential, commercial or rural property as security towards this loan. You are also able to put forward business assets, which will be assessed in your application.
  • Varied interest rates. The interest rates will be confirmed to you once you have filed your application.
  • Varied loan amounts. The loan amount you can apply for depends on the type of security you put forward as collateral with your loan application.
  • Repayment types. You are able to choose between a principle and interest repayment or an interest-only repayment over the term of your loan.

How much does the loan cost?

Some of the fees that can be expected with this loan include:

  • An establishment fee. This varies with your application and what type of security you offer with your application.
  • An account maintenance fee. This is $350 per half year ($700 annually).

Once your loan application has been approved, you will receive more information about the fees you can expect to pay, such as a monthly account-keeping fee and transaction fees that may apply. Since fees vary depending on your application, the costs above are an estimate of what you can expect to pay over the loan duration.

How to apply for the Suncorp Agribusiness Loan

In order to be eligible for this loan, you can click on “Go to Site” and ensure you meet the following requirements:

  • Get your main income from primary production. What this means is that you must get your income from cattle, sheep, grain, cotton or sugar. Other industries can qualify, although you should call Suncorp before filing your application to learn whether your industry is accepted.
  • You must have an asset to put forward as security for this loan. The asset that you put forward as security can be residential, commercial or rural property. It can also be a combination of these. However, security is mandatory in order to be considered for the loan.

Some documents you need to provide are:

  • Two consecutive years of financial statements. These statements can be for the business that you currently own or a business that you are looking to purchase.

Benefit from the two types of interest options offer with this loan. Be sure to do your research and compare business loans to ensure this one meets your business needs before applying.

Comparison of other business loans

Whilst we don't directly compare Suncorp Agribusiness loans, compare other business loans offering similar features.

Rates last updated February 21st, 2018
Name Product Min Loan Amount Max. Loan Amount Loan Term Application Fee Product Description
Prospa Business Loan
0.25 to 2 years
Apply for up to $250,000 and receive your approved funds within one business day. Note: Businesses must have a turnover of more than $5,000 per month and be able to demonstrate 6 months of trading history.
NAB QuickBiz Loan
1 to 3 years
An unsecured business loan from $5,000 that can be processed in 1 business day. Businesses that apply and are approved before 30 April 2018 are eligible for a discounted interest rate of 12.95% p.a.
Moula Business Loan
0.5 to 1 years
Small business loans of up to $250,000 approved and funded within 24 hours.
Transparent fees and rates. Note: Business must have been operating for at least 12 months and have monthly sales of at least $5,000.
Spotcap Loans
2 years
Take advantage of a fixed interest rate and no upfront fees with this business loan, available up to $400,000. Note: Business must have been operating for at least 18 months and have turnover over $200,000.
Sail Unsecured Business Loan
1 year
2.5% origination fee
Apply for up to $5,000 even if you have bad credit. Note: Business must have been operating for at least 6 months and have turnover over $50,000.
OnDeck Business Loans
0.5 to 2 years
$0 (2.5% origination fee)
Apply online for up to $150,000 with OnDeck and receive approved funds in one business day. Flexible Business Loan
0.5 to 1 years
1.5% Initial draw down fee
A 100% online business loan with amounts available from $5,000. Flexible eligibility criteria and transparent rates and fees.

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