Business Essentials Loan
Loan finance up to and including $5 million to support small business expansion, capital purchases and more.
Category: Business Loans Last Updated July 31, 2024 Effective June 24, 2021
General Lending Rates
Rates listed below are for a FIXED product. Additional Information 3 Year Fixed Interest In Advance. Residential Security; Add 0.50% p.a. margin for commercial security
Interest Rate
6.44% PA
6.44% PA
Comparison Rate
0.00%PA*
0.00%PA*
Product rates will vary depending upon your financial position< LVR, and other criteria. The product may also vary depending upon the rate type, repayment type, or loan purpose. We encourage you to contact us for a full understanding of the product and terms.
Product Variations
Product rates and conditions will usually vary based on the LVR and other conditions..
$20,000 - $999,999
Minimum: $20000.00 Maximum: $999999.00
- Lending Rate Type: Fixed
- Interest Rate: 6.79%, Comparison Rate 0.00%
- Repayment Type:
- Loan Purpose:
$20,000 - $999,999
Minimum: $20000.00 Maximum: $999999.00
- Lending Rate Type: Fixed
- Interest Rate: 6.64%, Comparison Rate 0.00%
- Repayment Type:
- Loan Purpose:
$20,000 - $999,999
Minimum: $20000.00 Maximum: $999999.00
- Lending Rate Type: Fixed
- Interest Rate: 6.49%, Comparison Rate 0.00%
- Repayment Type:
- Loan Purpose:
$20,000 - $999,999
Minimum: $20000.00 Maximum: $999999.00
- Lending Rate Type: Fixed
- Interest Rate: 6.74%, Comparison Rate 0.00%
- Repayment Type:
- Loan Purpose:
$20,000 - $999,999
Minimum: $20000.00 Maximum: $999999.00
- Lending Rate Type: Fixed
- Interest Rate: 6.79%, Comparison Rate 0.00%
- Repayment Type:
- Loan Purpose:
$20,000 - $999,999
Minimum: $20000.00 Maximum: $999999.00
- Lending Rate Type: Fixed
- Interest Rate: 6.74%, Comparison Rate 0.00%
- Repayment Type:
- Loan Purpose:
$20,000 - $999,999
Minimum: $20000.00 Maximum: $999999.00
- Lending Rate Type: Fixed
- Interest Rate: 6.59%, Comparison Rate 0.00%
- Repayment Type:
- Loan Purpose:
$20,000 - $999,999
Minimum: $20000.00 Maximum: $999999.00
- Lending Rate Type: Fixed
- Interest Rate: 6.44%, Comparison Rate 0.00%
- Repayment Type:
- Loan Purpose:
$1,000,000 - $5,000,000
Minimum: $1000000.00 Maximum: $5000000.00
- Lending Rate Type: Variable
- Interest Rate: 8.94%, Comparison Rate 0.00%
- Repayment Type:
- Loan Purpose:
$1,000,000 - $5,000,001
Minimum: $1000000.00 Maximum: $5000000.00
- Lending Rate Type: Fixed
- Interest Rate: 6.79%, Comparison Rate 0.00%
- Repayment Type:
- Loan Purpose:
$1,000,000 - $5,000,002
Minimum: $1000000.00 Maximum: $5000000.00
- Lending Rate Type: Fixed
- Interest Rate: 6.64%, Comparison Rate 0.00%
- Repayment Type:
- Loan Purpose:
$1,000,000 - $5,000,003
Minimum: $1000000.00 Maximum: $5000000.00
- Lending Rate Type: Fixed
- Interest Rate: 6.49%, Comparison Rate 0.00%
- Repayment Type:
- Loan Purpose:
$1,000,000 - $5,000,004
Minimum: $1000000.00 Maximum: $5000000.00
- Lending Rate Type: Fixed
- Interest Rate: 6.74%, Comparison Rate 0.00%
- Repayment Type:
- Loan Purpose:
$1,000,000 - $5,000,005
Minimum: $1000000.00 Maximum: $5000000.00
- Lending Rate Type: Fixed
- Interest Rate: 6.79%, Comparison Rate 0.00%
- Repayment Type:
- Loan Purpose:
$1,000,000 - $5,000,006
Minimum: $1000000.00 Maximum: $5000000.00
- Lending Rate Type: Fixed
- Interest Rate: 6.74%, Comparison Rate 0.00%
- Repayment Type:
- Loan Purpose:
$1,000,000 - $5,000,007
Minimum: $1000000.00 Maximum: $5000000.00
- Lending Rate Type: Fixed
- Interest Rate: 6.59%, Comparison Rate 0.00%
- Repayment Type:
- Loan Purpose:
$1,000,000 - $5,000,008
Minimum: $1000000.00 Maximum: $5000000.00
- Lending Rate Type: Fixed
- Interest Rate: 6.44%, Comparison Rate 0.00%
- Repayment Type:
- Loan Purpose:
Product Features
- Digital Banking
- Other Additional Information: Fixed & variable rate options
- Offset Additional Information: Reduce your interest repayments with our offset feature (variable only). The funds in your linked Suncorp Bank business transaction account will offset, or reduce, the balance of your Small Business Essentials Loan.
- Redraw Additional Information: Manage your cash flow with our Cashback feature, enabling you to access any extra money you've paid into your loan (variable only)
- Other Additional Information: Split your loan across fixed and variable rates. You can choose to split your loan and fix a portion of your borrowings at a fixed interest rate for greater budgeting certainty.
- Other Additional Information: Flexible security options – residential, commercial/industrial or a mix of these options
- Other Additional Information: Principal and Interest (P&I) or Interest-only (IO) repayment options
- Other Additional Information: Choose weekly, fortnightly, or monthly repayments
- Other Additional Information: Choose to pay more than your required minimum monthly repayment (variable only)
- Other Additional Information: Make additional repayments or lump sum payments (variable only)
- Other Additional Information: May form part of a Money Manager Package or Business Ready Package depending on eligibility criteria.
Product Eligibility
- Business Additional Information: You must be a registered Australian business with a current ABN or ACN.
- Other Additional Information: You will also need to provide a completed application with supporting documentation including 2 most recent consecutive years of financial information.
- Other Additional Information: You need to have security such as residential property, commercial or industrial property, or a combination of these.
Bank Fees and Charges
- Establishment Fee (Event), Amount: 1000.00. Additional Information: New term loans between $20,000 and $999,999
- Establishment Fee (Event), Amount: Not Listed.. Additional Information: New term loans between $1,000,000 and $5,000,000
- Property Evaluation Fee - Commercial Security /commercial Property Valuation Fee (Variable), Amount: Not Listed.. Additional Information: Determined by a Valuer at the time of the loan application.This fee is payable at the time of application and is non-refundable
- Property Evaluation Fee – Residential Security / Residential Property Valuation Fee (Variable), Amount: Not Listed.. Additional Information: Determined by a Valuer at the time of the loan application and payable at loan settlement. It will be notified to you in your Credit Contract as a combined total with any applicable Commercial Property Valuation Fee. This fee is payable for each valuation assessment of the loan securityobtained by us under the loan application
- Guaranteed Rate Fee (Variable), Amount: Not Listed.. Additional Information: A Guaranteed Rate Fee secures a fixed rate for 90 days following your application. This fee is non refundable. Only applies to new 1, 2, 3, 4 and 5 year fixed rate term loans. If applicable, the higher of $600 or 0.15% of the amount borrowed (excluding other fees which are financed by the loan)
- Monthly Account Keeping Fee (Periodic), Amount: 15.00. Additional Information: Not applicable for Annual Interest in Advance loans
- Progressive Funding Fee (Variable), Amount: Not Listed.. Additional Information: Determined at Application. Variable Rate only. Applies at loan settlement or first draw (at the Bank’s discretion) for any part of the loan provided for construction purposes.
- Cashback Fee (Event), Amount: 20.00. Additional Information: Variable Rate only. No charge applies for the first Cashback transaction per calendar month. Cashback fee may be charged and rebated. A fee for each Cashback withdrawal applies. Minimum withdrawal amount is $1000.
Limitations & Restrictions (Constraints)
- Min Limit of 20000.00 Additional Information: Minimum Loan Limit of $20,000
- Max Limit of 5000000.00 Additional Information: Maximum Loan Limit of $5,000,000