| Interest rate structure | 10.95% p.a. to 20.95% p.a |
| Loan terms | 1, 2 or 3 years |
| Minimum loan amount | $20,000 |
| Maximum loan amount | $50,000 |
| Establishment fee | $495 |
| Service fee | $20 per month |
How to apply
Check your eligibility then get started with Business+ online or the Business+ app.
Enter your business details and your ID to create your profile.
Apply in 10 minutes. No paperwork and fast approval.
Check your business eligibility
- Annual turnover of at least $75,000
- Have at least one year trading history
- If your business is a company, all directors must provide a guarantee
- a partnership
- a trust
- a company that isn’t owned by real people
- a tax resident in any country other than Australia
Frequently asked questions
You’ll need to meet our eligibility criteria for a Business+ Unsecured Loan. You can find these here.
When you apply for business finance, you (and any directors, partners or guarantors) may need to provide:
- Financial statements, preferably prepared by an accountant
- Proof of individual income
- Bank statements
- Identification
These documents help us understand your business’s financial position.
Unsecured business loans typically have higher interest rates than secured loans because the lender is taking on more risk by lending money without any collateral.
No. Your business needs to run for a minimum of 1 year's before you can apply for a loan. Opening a Business+ Account and Business+ Saver is a good way to establish your business and show trading history when it's time to apply for a loan.
We offer 1, 2 or 3-year terms to pay off your Business+ Unsecured Loan.
You can use your loan to fund a wide range of business purposes including:
- cover large, unexpected expenses (including ATO Debts)
- working capital as you start or expand your business
- purchase of stock, plant and equipment
- invest in productivity improvements
- refinance of certain short term business loans or a balloon for equipment finance loan to release cashflow
Yes you can. If you decide to pay your loan out early, costs will apply. Learn more about Early Payment Costs.
More features, less fuss.
Banking, finance, invoicing and much more available now in Business+.
Great Southern Bank, a business name of Credit Union Australia Ltd ABN 44 087 650 959, AFSL 238317. Conditions, fees and charges apply. Information on Business+ accounts is general information and does not consider your objectives, financial situation or needs. Consider the appropriateness of the information, including the Business Banking Terms & Conditions (T&Cs) booklet and the Business Finance Terms and Conditions, before acting on it.
The product is only available to approved applicants for business purposes. Lending criteria, limits, conditions, and fees apply. Applications are subject to credit approval.
Loan term range from 12 months to 36 months for Business+ Unsecured Loan
Business+ Unsecured Loan rates range from 10.95% p.a. to 20.95% p.a.
To be eligible, here’s what you need to tick off:
- Be aged 18 or over
- Be an Australian resident
- Annual turnover of at least $75,000
- Have at least one year trading history
- Have an ABN for your business
- If your business is a company, all directors must provide a guarantee
- Have a valid email address, mobile number, and driver’s licence for identification
- Be one of the following business structures: a sole trader or a privately-owned Australian company
Can’t remember your business structure, Use the ABN Lookup to find out.
You won’t be able to apply if your business is:
- A tax resident in any country other than Australia
- One of the following business structures: a company owned by another company, a partnership, a trust, or a self-managed super fund
- Simple, fast, and mobile business banking
- Open accounts and loans entirely online in minutes
- In-app support (from real people)
