Business loans

Tailor how often you want to repay based on your cash flow.

Flexible loan options

Make extra repayments on your variable rate business loan to reduce interest and redraw funds when you need them.

At a glance

Establishment and other fees apply. Fees are confirmed in your finance offer.

What you could use a business loan for

• Business acquisition
• Startup costs
• Capital investment
• Property acquisition or development
• Refinancing other lending

Want a business loan without the need for security?

Borrow up to $250k

Whether you're an existing Westpac customer or not with us yet, find out how you could get a business loan without providing physical assets as loan security.

Interest rate options

• Variable rate
• Fixed rate
• Choose a combination

• Make extra payments, which could reduce interest paid over the life of the loan
• Apply to swap between interest only or principal and interest repayments
• Redraw allows you to make extra payments and access these funds later.

• Option to fix a rate for up to 5 years
• Provides certainty in knowing what you're up for with each repayment
• Protection against interest rate rises during the loan term, but you won't benefit if the interest rate falls
• Fees and charges may be payable if you repay the loan early
• You can't make or redraw extra repayments during the fixed rate period
• At the end of the loan term, the interest rate will switch to a variable rate

Rather than choosing one or the other, you can fix part of your loan and keep the other part variable.

What you need to apply

Eligibility criteria

• be a business entity or an individual 18 years and above, domiciled in Australia; and
• require the funding for business or investment purposes other than investment in residential property; and
• meet the credit criteria and credit policy requirements under an applicable offer for this product.

Some considerations

• An asset and guarantee may be required to secure your loan
• You, and the business owners, directors and guarantors must have clear credit records
• Your bank accounts and loan balances must be within their approved overdraft or lending limits.

Documents

• Passport or Australian driver licence
• Financial statements
• Proof of individual income (for directors and shareholders)
• Personal and business expenses

Discover your borrowing power in 10 minutes

• Want to borrow between $10k and $3m?
• Looking for a business loan, business overdraft or vehicle and equipment finance?

We can help. Just have these documents handy:

• Latest annual financial statements or business tax return
• 12 months' business activity statements from the ATO
• Signed copy of your lease agreement (only required for property investments)

Enquire now to book in your 10 min borrowing power chat or if you just need to talk through your business needs.

What customers have said about their borrowing experience

"We were over the moon and very appreciative of the speed with which we were able to get an approval" (Lawn Mowing business, VIC)

"I was extremely satisfied with how quick we were able to apply and receive our funds. It took away a lot of stress out of our expansion" (Film Producer, QLD)

"Applying was really easy and meant we were able to purchase the property knowing we had the funds" (Bedding retailer, VIC)

Source: Westpac business lending applicants 2023.

Keep exploring

Business loan for startups

A business loan for startups could help get your dreams off the ground.

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Help when you need it

• Releasing the security on your loan
• Customers in need of extra care

Enquire now

Provide your details and we'll be in touch.

Talk with us

8:30am - 6pm, Mon - Fri (Sydney time)

Things you should know

Credit criteria, fees, charges, terms and conditions apply. Talk to your banker for more details.

*Loan amount of up to $3m per customer, with a maximum of $3m in exposure across customer group facilities. Businesses must be operating and profitable for at least two years. Loans only available for purchase of owner-occupied non-specialised commercial property or business expansion. You should consider the increased risks associated with high loan to value ratio borrowing.

1. Eligibility, credit criteria and type of security determine how much you can borrow.

2. Rates vary depending on a number of factors, such as loan term and the type of security provided.

3. Accrues monthly, payable quarterly in arrears. Other fees may apply.

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For Westpac issued products, conditions, fees and charges apply. These may change or we may introduce new ones in the future. Full details are available on request. Lending criteria apply to approval of credit products. This information does not take your personal objectives, circumstances or needs into account. Consider its appropriateness to these factors before acting on it. Read the disclosure documents for your selected product or service, including the Terms and Conditions, before deciding. Target Market Determinations for the products are available. Unless otherwise specified, the products and services described on this website are available only in Australia from © Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714.