BOQ announces support for Australian businesses as part of the SME Recovery Loan Scheme

Bank of Queensland (BOQ) has today announced a range of benefits for eligible businesses as part of the Federal Government’s expanded SME Recovery Loan Scheme, to support those impacted by the COVID-19 pandemic and to help kick-start the Australian economy.

Financial support available to eligible customers from today includes:

  • Up to $5 million SME Recovery Loan Scheme lending per business entity ABN [1]
  • Business Term Loans [2] with:
    • Low interest rates1
    • Up to 85% LVR for owner occupied commercial property [2]
    • Up to 100% LVR will be considered where the customer has an owner occupied home loan with BOQ [2] 
    • 10 year interest only option [2] 
    • Reduced documentation required for eligible Lease Doc loans up to 70% LVR [2] 
    • No Application Fee or monthly Loan Service Fees [1] 
    • A maximum 10 year loan term
    • Optional repayment holiday for the first 12 months [3] 


Financial support available to eligible BOQ Specialist clients from today includes [4]:

  • Up to 100% LVR for medical, dental and vet clients with commercial property
  • Up to 3 years interest only for Goodwill Lending


This support is available to new and existing eligible small to medium business customers and not-for-profit organisations. Further information on support available and eligibility criteria can be found here:

There are a number of ways for customers to apply for BOQ’s SME Recovery Loan including contacting their local BOQ branch, through an accredited Broker, Relationship Manager, or by calling 1300 714 986.




Credit provided by Bank of Queensland Limited ABN 32 009 656 740 AFSL and Australian Credit Licence no. 244616 (BOQ). Terms and conditions, fees and charges and lending and eligibility criteria apply. You should obtain and consider the product terms and conditions  and Guide to Fees and Charges that apply to this product before making any decision about whether to acquire the products. We reserve the right to cease offering these products at any time without notice.

[1] SME Recovery Loan interest rate and fee offers are only available on new lending up to $5 million per eligible ABN holder where the customer, loan purpose and security meets the SME Recovery Loan Scheme rules dated 16 September 2021 and BOQ credit criteria. These offers are not available for residential security, self-managed super funds or to extend or increase any existing non-Scheme lending. All signed loan documentation must be returned to BOQ by 31 December 2021. Your actual interest rate may vary depending on the size of your loan, security being offered and full credit assessment of your application for finance. A margin may also apply. These interest rate offers cannot be taken in conjunction with or in addition to any other packages, negotiated interest rates or special offers.

[2] Small and Medium Business, security type and loan purpose eligibility criteria applies (‘SME eligibility criteria’). A maximum Loan-to-Value ratio (LVR) of 85% applies for owner occupied commercial security, otherwise the maximum LVR is 80%. Higher LVR up to 100% will be considered on a case by case basis where the customer also has an owner occupied home loan with BOQ. 10 years interest only is available up to the maximum LVR criteria. If the LVR is higher than the maximum at the time of funding the portion of debt in excess of the maximum must be set-up as a separate loan on a Principal and Interest arrangement amortising down to zero at the end of the loan term. If you meet our ‘Lease Doc’ criteria the maximum interest only term will be the lesser of 10 years or the remaining lease term minus one year. Where the remaining lease term minus one year is 5 - 9 years the maximum IO term will be 5 years.

[3] Repayment holiday of 12 months is where the interest is capitalised over the repayment holiday period. Interest capitalisation is the addition of unpaid interest to the outstanding loan balance. The outstanding loan balance will increase when payments are postponed during periods of deferment and where unpaid interest is capitalised.

[4] The issuer and credit provider of these products and services is BOQ Specialist -- a division of Bank of Queensland Limited ABN 32 009 656 740 AFSL and Australian Credit Licence no. 244616.