That's right.
- A Better Business Loan (BBL) is a short-to-long-term solution for any business or investment purpose. This loan is for all business sizes including not-for-profit and allows businesses to preserve their cash flow by repaying their loan gradually over a term of up to 30 years (15 years if commercially secured). There is no maximum loan amount, but the minimum amount required to take out this loan is $25k.
- Pricing for a BBL is simple with one interest rate offered to the client and has a similar structure to a home loan. The BBL is tied to the reference rate published by the bank and takes into consideration the money market and cost of funds such as the cash rate.
BBL
Rate Build-Up
Rate
Not quite.
A Business Line of Credit is a revolving facility that offers the flexibility of no set repayment but also has no set term, hence it is not an ideal product solution in the long-term for a business that is looking to preserve cash flow and gradually pay the facility/loan over a set period of time.
Not quite.
A Market Rate Loan is a sophisticated facility with a complex pricing structure. It is designed for medium to large businesses with a minimum loan amount of $500k, making it an unsuitable product for this particular business.
