Suncorp Commercial Business Loan

This business loan has a minimum loan amount of $1,000,000, with no maximum amounts. Fees and charges apply.

This loan is designed for businesses with specialised funding requirement, for instance Management Letting Rights, Property Development and Agribusinesses. It has high borrowing amounts starting from $1,000,000, with no maximum loan amounts. You can choose between a fixed or variable rate. Security can include residential, commercial or rural property. Business assets may also be accepted. Interest rates are based on your individual business circumstances. You will be provided a rate when you apply. Establishment fee and monthly account keeping fees vary with each application. There will also be an unused limit fee of 1.5% the loan amount if you don’t use the loan funds.

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Depends on application and whether or not security provided

Upfront Fee

1 to 15 years

Loan Term

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Details

Product NameSuncorp Commercial Business Loan
Min. Loan Amount$1,000,000
Max. Loan AmountNo maximum amount
Loan SecuritySecured
Upfront FeeDepends on application and whether or not security provided
Loan Term1 to 15 years

How does the Suncorp Commercial Business Loan work?

These Commercial Business Loans are designed for large lending amounts. This means that the loan amount you're applying for is a minimum of $1,000,000. The maximum limit depends on the type of assets you're able to offer as security for this loan. The loan terms vary, depending on the type of security offered. There's a minimum of 1 year and a maximum of 15 years in loan terms, which gives your business plenty of time to grow and thrive.

Features of the Suncorp Commercial Business Loan

Some of the features with this loan include:

  • Large minimum amounts. This loan is designed for lending amounts of $1,000,000 or over. That's a large minimum borrowing rate which gives your business plenty of opportunities to expand over the term of the loan.
  • Varied loan terms. The loan terms on this loan start from 1 year and go all the way up to 15 years. Plenty of time to make those business decisions you've always dreamed of.
  • A personalised business banking manager. Get personalised help with a business banking manager, whose goal is to help structure a loan to best suit the needs of your business and match your cash flow, and who also takes into consideration any seasonal fluctuations that might occur.
  • Choose from fixed or variable interest rate options. You are able to choose between a fixed rate and a variable rate loan option. With the fixed rate option, you fix the rate for the term of the loan and therefore know what your repayments are going to be whenever they occur. However, with the variable rate option, you are able to make additional repayments when you've got the spare cash lying around and are able to redraw on these additional repayments if you need the money in a pinch.
  • Choice of repayment type. You are able to choose to pay the principal and interest or interest only on your loan.
  • Varied types of security. You are able to offer a variety of assets as security for this loan. You can offer residential, commercial or rural property as security. You can also put forward business assets, but this is on a case-by-case basis and the lender's decisions will depend on what the assets are. You are able to offer a combination of assets as well.

How much does the loan cost?

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

  • An application fee that depends on your application and whether or not you have provided security.
  • An unused limit fee of 1.5% of the loan amount you have applied for if you don't use the loan.
  • A transaction fee of $20 if you deposit funds from that account to another bank.
  • A redraw fee of $20. This only applies if you've chosen to go with the variable loan type.
  • An account maintenance fee that's confirmed once you've sent in your application.

How to apply for the Suncorp Business Loan

In order to be eligible for this loan, you must click on "Go to Site" and ensure you have the following ready:

  • An asset to put forward as security for the loan. You can put forward a variety of assets, such as cash, residential, commercial or rural property as well as business assets. It can be a combination of these assets as well.
  • Be an Australian permanent resident or a citizen.
  • Have a Suncorp account. Although this isn't strictly a requirement, it does make things easier if you already have an account with Suncorp and the lender can clearly see your assets and liabilities situation before you apply for this business loan.

Some documents you need to provide include:

  • Two consecutive years of financial information. This financial information has to be about the business you're wanting to purchase or the business you currently have. If you don't provide this information, your application for a loan will not be able to continue.
  • Proof of identity. Usually, this is your driver's licence or your passport.

There is a large minimum lending amount offered with a Suncorp Commercial Business Loan. Compare other business loans to see which loans best meet your needs.

Comparison of other business loans

While we don't directly compare Suncorp Business Loans, compare other business loans offering similar features.

Name Product Min. Loan Amount Max. Loan Amount Loan Term Upfront Fee Filter Values
Swoop Finance Business Loan
$1,000
$100,000,000
1 to 20 years
Depending on your loan contract
Apply online and borrow between $1,000 and $100,000,000. Options for good and bad credit borrowers.
Zip Business Loan
$10,000
$500,000
Up to 5 years
No establishment fee
Borrow up to $500,000 with loan terms of up to 5 years. Flexible weekly, fortnightly and monthly repayment options available with no early repayment fees.
Lumi Unsecured Business Loan
$5,000
$300,000
3 months to 3 years
2.5% establishment fee
Apply for up to $300,000 from Lumi and benefit from short loan terms, no early repayment fees and once approved receive your funds in just one business day.
ebroker Business Loan
$5,000
$5,000,000
1 month to 30 years
$0 application fee
Small business loans available between $5,000 and $5,000,000. Get access to 70+ non-bank lenders on this independent platform.
Valiant Finance Business Loan Broker
$5,000
$1,000,000
3 months to 5 years
$0 application fee
A Business Lending Specialist from Valiant Finance can give you access to competitive business loans from over 70 lenders. Loans between $5,000 and $1 million are available. Request a call – your loan can be funded in 1 business day.
Moula Business Loan
$5,000
$250,000
1 to 2 years
2% Establishment fee
A loan of up to $250,000 that can be approved and funded within 24 hours. Available to businesses with 6+ months operating history and $5,000+ monthly sales.
Max Funding Unsecured Business Loan
$3,000
$30,000
1 month to 1 year
$0 application fee
An unsecured business loan from $3,000 that offers convenient pre-approval and no early repayment fees.
OnDeck Business Loans
$10,000
$250,000
6 months to 2 years
3% of loan amount
Apply for up to $250,000 and receive your approved funds in one business day. Minimum annual turnover of $100,000 and 1 year of trading history required.
Prospa Business Loan
$5,000
$300,000
3 months to 3 years
3% origination fee
Small business loans are available from $5,000 - $300,000 on terms of up to 3 years. At least six months trading history and a monthly turnover from $6,000 is necessary.
ANZ Unsecured Business Loan
$10,000
$1,000,000
Up to 15 years
$600
Apply for a loan from $10,000 with no security required and benefit from flexible repayment terms.
Octet Trade Finance
$100,000
$10,000,000
1 month to 2 years
Transaction fee 2.5%
Access a line of credit to pay suppliers in over 65 countries. Borrow from $200,000 up to $7 million.
ANZ Secured Business Loan
$10,000
$10,000,000
Up to 15 years
$600
Benefit from a low rate when you secure this loan with property and/or business assets. Loans from $10,000 available.
Westpac Business Loan
$20,000
$3,000,000
1 to 30 years
$0 application fee
Purchase a new vehicle, equipment or support your cash flow with a business finance solution from Westpac.
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