Loans and finance
Need to grow your business, upgrade equipment or manage cash flow? Take a peek at our business borrowing options to see how you can make your next move.
Why choose a BankSA business loan?
Economic Resilience Program
The Economic Resilience Program is delivered through the National Reconstruction Fund (NRF) on behalf of the Australian Government and run in partnership with participating banks. It provides support through zero interest loans for eligible businesses impacted by market disruption, including rising fuel costs. Support is available through participating banks, with larger funding provided directly through the NRF.
At a high level, the program will involve:
- Support for eligible manufacturing and logistics businesses where businesses have been materially impacted by market disruption.
- Zero interest loans of up to $5 million, offered by participating banks for eligible businesses with annual turnover of less than $100 million, with loan terms of up to two years.
- Larger financing support can be accessed directly through the NRF for eligible businesses with annual turnover greater than $100 million, or where funding requirements exceed $5 million.
- All support is subject to Economic Resilience Program eligibility, assessment criteria and product terms and conditions, and is available for a limited time.
For more information about the Economic Resilience Program, click here. You can also speak to your Relationship Manager to discuss eligibility and express your interest in accessing support through the Economic Resilience Program.
Flexible borrowing to suit your business
Check out our range of products, for businesses of every size.
Business loans
Make your next bold business move with our support.
- Borrow from $20k
- Loan to value ratios of up to 100% depending on security offered*.
Commercial overdraft
Get extra funds and the support you need with our overdrafts.
- Access additional funds in your business transaction account
- No fixed term, pay what you can, when you can - as long as the overdraft stays under the agreed limit.
Business loan for startups
Turn your business dreams into reality with our help.
- Borrow between $10k to $50k
- Terms of up to 5 years
- For startups that can provide a business plan as part of the application.
Bank Bill Business Loan
Enjoy the benefits of a market linked rate with the simplicity of a term loan.
- Designed for medium to large businesses looking to borrow more than $250,000
- Supported by specialist relationship managers
- Flexible repayment options
Vehicle and equipment finance
Car and equipment loan
You buy and own the equipment with a goods loan from us. Simple.
- New vehicle or specialised equipment
- Tailored repayments.
Hire purchase
We get the equipment for your business and then you buy it from us over an agreed period.
- Flexible repayment options to suit your cashflow, including balloon payments
- Balloon payment optional
- Interest on the finance and depreciation of the asset may be tax deductible.1
Lease
We purchase the vehicle or equipment and rent it to you for an agreed period.
- Use the asset during the lease term
- Your business can generally claim the lease rental as a tax deduction1
- No minimum monthly deposits or balance.
Frequently asked questions
What are the different types of business loan?
There are several types of business loan. BankSA offer a small business loan that can be secured, so you use an asset such as a property, for security. Or unsecured, generally you borrow less money, but without needing an asset. We offer overdrafts, which means you can access additional funds in your business transaction account. There is also an option to get a loan which is vehicle or equipment specific.
What’s the eligibility criteria for a loan?
The criteria for a loan will differ depending on the type of loan you have chosen. Generally, you will need to be an Australian registered business with an ABN and over 18 years old. BankSA will take into consideration how long a business has been operating and its financial health, to determine how much can be borrowed.
How long does it take to get approved for a business loan?
The time it takes to get a loan decision varies depending on several factors. These include: whether the loan is secured or unsecured, if you've banked with us before or if you're a new customer and your financial situation. It also depends on how quickly you can provide the required documents to us. Generally, it could take anywhere from a few days to a month from application through to approval and loan settlement, depending on the type of loan.
Important information
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. The taxation position described is a general statement and should only be used as a guide. It does not constitute tax advice and is based on current tax laws and their interpretation. Customers must seek their own independent tax advice in relation to their individual circumstances.