Whether you are looking to buy a new business, grow your business or to expand your operations, our Business Term Loan can help with your business financing needs.
Choose from a variable or fixed interest rate loan and flexible repayment options depending on your business needs.
Redraw funds paid in addition to the minimum loan repayments (available on variable interest rate Business Term Loans only). Learn more on how to do this online.
| Feature | Detail |
|---|---|
Loan amount |
Minimum loan amount is $10,000 |
Loan term |
Minimum term is 1 year Maximum terms are: Up to 30 years for loans 100% secured by residential property+ Up to 25 years for non-residential property or mixed security+ |
Repayments |
Principal and interest Interest only up to a maximum of 10 years Flexible repayment options including weekly, fortnightly or monthly |
Additional repayments |
Variable rate Business Term Loans: No restrictions Fixed rate Business Term Loans: Principal reductions of up to $5,000 every 12 months |
At BOQ, we keep our fees to a minimum. Any fees we do have we’ll show you up front so there are no surprises.
| Fee type | Fee |
|---|---|
Application fee |
0.75% of the approved limit applies (minimum $750) |
Monthly service fee |
$25 per month |
A full list of fees can be found in our Fees and Charges Guide below.
For important information on our Business Term Loan, view the terms and conditions below.
Our low fee business bank account
Manage your transactions with ease - all for a low monthly fee.
Finance your equipment without tying up your cashflow
Whether you want to lease your equipment, salary package your vehicle or you're looking for a short-term finance solution to grow your business, we can help with a full suite of funding options.
