Suncorp Bank – A trusted financial partner
Suncorp Bank is a trusted service partner in Australia that helps Australian citizens to secure the best financial products and services. Our aim is to help our clients and give back to the community.
We started operating in 1902 and continue to grow as a business and use our expertise to bring our clients the best online loan products and deals. We have over $97 billion in assets and employ over 13,400 people. We have served over 9 million clients to date across Australia and New Zealand.
Trustworthy and transparent
We believe in being completely transparent and making sure that you understand the loan contract that you are entering into. Business loans are for large amounts of money, so it is very important that you understand all the terms and conditions involved with the loan agreement.
Customer service is our speciality
We believe that you deserve the best customer service and we train our consultants to be able to answer any of your questions while treating you fairly and putting your needs first. Our consultants are there to assist you with anything that you require and will explain the contract to you in detail until you understand it.
We believe in sustainability and helping preserve the environment. We have made our loan application system completely paperless so that we can help to save the rainforests and we invest in the community by supporting communities and those less fortunate. We constantly work to decrease our carbon footprint and reduce business wastage.
Choose between Secured & Unsecured business loans
There are 2 types of business loan types these types are 1) secured business loans 2) unsecured business loans.
A secured business loan is a loan that is backed by an item of collateral. This item can be lost if you do not make payments on your loan and is a very risky loan option. If you have a bad credit score then some lenders will require you to secure your loan to ensure that they do not lose money by lending you money.
Advantages of a secured business loan
The main advantage of a secured business loan is that you will be charged a lower interest rate and have longer to repay the loan. As these types of loans are less risky for the lender it will be much easier to have your loan application approved.
There are a lot of different types of secured loans these include the following:
- Commercial mortgage loans: This loan is secured by the property. If you don’t pay the loan back you will lose your collateral.
- Vehicle loans: This is when your loan is secured by your vehicle. If you don’t make the payments on the loan you will lose the vehicle.
- Bridging finance: This type of loan is secured by a property that is currently being sold. The lender will lend the client a certain amount that is a percentage of the sale amount. Once the property is sold and the client gets the money they will need to pay back the loan.
- Invoice financing: This is when your short term loan is financed against outstanding invoices and you are charged an interest rate. When the invoice gets paid you will be expected to pay back the loan.
- Inventory finance: This loan uses your business inventory as collateral to secure your loan. If you don’t pay back the loan, then you will lose your inventory.
Suncorp Bank Business loan
- Loan Type Business loans
- Interest Rate 1 – 8% p/a
- Loan Amount up to $2,000,000
- Repayment 1 year to 15 years
Benefits of Suncorp Bank
- Affordable business loans
- Personalised loan options
- Variable and fixed interest rates
Suncorp Bank – Helping your business sucseed
Long-term business loans are usually for a larger amount of money and they need to be repaid within 10 to 20 years depending on the loan contract and agreement terms.
This option is good for small businesses that are just starting out and don’t have a lot of money to spend on their business, they can use a long-term business loan to help grow their business and as they make more money they will be able to repay their loan.
Strategy and development
When you approach a lender for business finance you will need to provide a business plan to show them what you will be using the loan for and how you are going to use it to increase your profit margins.
- You need to show the lender that you are very invested in your business and that you will do everything in your power to make your business succeed.
- Your business plan and plan of action are how the lender will determine if they should loan you money or not.
- Business loans take much longer to be approved than a personal loan as the amounts of money involved are normally much higher.
Prepare to have your loan approved
To have a better chance of your loan application being approved you will need to be able to answer questions about why you are applying for a loan.
You will need to know how much your business would like to borrow and how long it will take for you to pay back the loan. Some lenders may require you to list an item of collateral to secure your loan this will depend on a number of different factors.
Customer Reviews & Testimonials
My business experienced a bit of a financial setback and I was so fortunate to find Suncorp Bank. They worked around the clock to help me set up a business loan that worked well for my needs at t...
— Brisbane —
Really very good business loan service! I was able to get a loan for $12000 at an affordable rate with manageable repayment terms.
— Newcastle —
I was so pleased to find such an easy to navigate website and simple online application. The entire process was user-friendly and took mere minutes.
— Hobart —
As a serial entrepreneur, I am always on the lookout for the best business finance organisations. So far Suncorp is the best I have come across with very good interest rates and affordable fees a...
— Gold Coast —
Suncorp Bank Contact
- 259 George St Sydney NSW 2000 Australia
- Get Directions
- PO Box 1453, Brisbane Queensland, 4001, Australia
- Monday 09:00 – 16:30
- Tuesday 09:00 – 16:30
- Wednesday 09:00 – 16:30
- Thursday 09:00 – 16:30
- Friday 09:00 – 17:00
- Saturday – Closed
- Sunday – Closed