BSB 805 050

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BSB 805 050

Refinance my business loan

How’s business? Time to refinance?

Mind your own business

For many businesses, the initial financing arrangements put in place at start-up are still in place many years later.

A business’ finances should be reviewed on a regular basis to be sure the current needs of the business are suited. Refinancing could be the right choice for your business if:

  • you’re planning to renovate or update your fit-out;
  • business circumstances have changed and the current loan no longer suits;
  • you’re looking to reduce loan repayments;
  • if you want to access the equity in your business;
  • if your fixed term loan is coming to an end;
  • or you want to consolidate your debts to make managing your business loans easier.

What does refinancing involve?

By the book

Refinancing is basically the replacement of current financial and debt management systems and products, with new ones.

Refinancing could involve switching to a new lender or changing the financial loans and accounts of your business with your current financial institution.

A refinance loan to suit you

Compare Our Products

Product Summary

What do I get?

Interest Rate

Available Loan Size

Interest Only Option

Loan to Value Ratio (LVR)

Extra Repayments

Redraw Facility

Loan Term

Repayment Frequency

Loan Splits available

Application Fee

Ongoing Fees

 

Finance your business with the peace of mind of a set fixed interest rate, no monthly fees and certainty of set repayments for a fixed period

What do I get?

Set repayment certainty with a fixed rate for 1 to 5 years, to purchase or refinance a business, or a business asset, or for any other worthwhile business purpose.

Interest Rate

From 4.24% p.a.
(1 year term)

Available Loan Size

$50,000+

Interest Only Option

Up to 5 years

Loan to Value Ratio (LVR)

Up to 80%

Extra Repayments

Up to $10,000 per year

Redraw Facility

Loan Term

Up to 25 years

Repayment Frequency

Weekly, Fortnightly or Monthly / Monthly for Interest Only

Loan Splits available

Application Fee

$600 for loans up to $80,000 or 0.75% for loans of $80,000 or greater
Charged per loan

Ongoing Fees

$0

Remove

Grow your business at your pace with a variable rate business loan with no monthly or annual fees and the flexibility to make extra repayments

What do I get?

Flexible variable loan to purchase or refinance a business, or a business asset or for any other worthwhile business purpose.

Interest Rate

From 5.21% p.a.

Available Loan Size

$50,000+

Interest Only Option

Up to 5 years

Loan to Value Ratio (LVR)

Up to 80%

Extra Repayments

Redraw Facility

Loan Term

Up to 25 years

Repayment Frequency

Weekly, Fortnightly or Monthly / Monthly for Interest Only

Loan Splits available

Application Fee

$600 for loans up to $80,000 or 0.75% for loans of $80,000 or greater
Charged per loan

Ongoing Fees

$0

Remove

Expand your business with a revolving line of credit and control your everyday finances, with an all-in-one account

What do I get?

A flexible line of credit, for everyday business use, or just when you need it.

Interest Rate

From 5.52% p.a.

Available Loan Size

$10,000+

Interest Only Option

10 years

Loan to Value Ratio (LVR)

Up to 80%

Extra Repayments

Redraw Facility

Draw up to credit limit

Loan Term

Up to 25 years

Repayment Frequency

Monthly

Loan Splits available

Application Fee

$600 for loans up to $80,000 or 0.75% for loans of $80,000 or greater
Charged per loan

Ongoing Fees

$10 per month

Remove

Get your business on the road or upgrade your current vehicle with our fixed rate Business Vehicle Loan with no break cost to repay early

What do I get?

Low rate flexible loan, for business vehicles up to 3 tonne.

Interest Rate

From 5.64% p.a.3

Available Loan Size

$20,000+

Interest Only Option

Loan to Value Ratio (LVR)

Up to 120% all inclusive

Extra Repayments

Redraw Facility

Loan Term

Up to 5 years

Repayment Frequency

Weekly, Fortnightly or Monthly

Loan Splits available

Application Fee

$250 Sole Traders / Partnerships
$350 Companies

Ongoing Fees

$0

Remove

Build for business purposes with the flexibility you need to manage your finances during construction with a variable interest rate and no monthly fees

What do I get?

A flexible variable loan for construction of a business asset.

Interest Rate

From 5.21% p.a.

Available Loan Size

$50,000+

Interest Only Option

Up to 5 years

Loan to Value Ratio (LVR)

Up to 80%

Extra Repayments

Redraw Facility

Loan Term

Up to 25 years

Repayment Frequency

Weekly, Fortnightly or Monthly / Monthly for Interest Only

Loan Splits available

Application Fee

$600 for loans up to $80,000 or 0.75% for loans of $80,000 or greater
Charged per loan

Ongoing Fees

$0

Remove

The fine print

Don't get caught by surprise

Avoid any surprises and contact your current financial institution to find out what fees are payable if you refinance your existing loan.

Before you decide to refinance your business loan, it’s important to be aware of extra charges you may need to pay including:

  • application fees
  • settlement fees
  • valuation fees
  • stamp duty
  • Government mortgage registration fees
  • exit fees and
  • early repayment fees.

Choose People’s Choice

Let's get down to business

If you’re ready to make the
switch, talk with one of our
Business Advisors today
about your options. Enquire
online or call 13 11 82.

 

Enquire online

hi…

Thank you for your enquiry. Unfortunately we don’t have a Business Banker based in this area, so please call us on 13 11 82 to see how we can still help you.

Terms, conditions, fees, charges and lending criteria apply and are available on application.

The information above is general advice only and does not take into consideration your personal objectives, financial situation or needs (“your personal circumstances”). Please consider the relevant Disclosure Documents and your personal circumstances before making any decision to purchase the products. Contact us on 13 11 82 with any questions, or visit your nearest branch to talk to a consultant.

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