Your browser is out of date. From Thu 28 April 2022, the Great Southern Bank website will not support your current browser, and you may have a degraded experience or be unable to connect. Update your browser to secure your online experience.

Search
Close

Small business loans bursting with benefits

Unsecured loans up to $50,000
Access up to $50,000 without using your assets as security.
No paperwork
Apply in the Business app in minutes.
Competitive rates
Affordable funding to help manage and grow your business.
Help at hand
In-app live chat (with real people).
BUSINESS APP
Business+ Unsecured Loan
A simple way to fund your business's plans.
Features
Fast, paperless application and approval
Flexible repayments and loan terms
Borrow between $20,000 - $50,000
No assets needed for security
Competitive fixed rates from 11.95% p.a.
BUSINESS APP
Business+ Unsecured Overdraft
Manage cashflow in your business with ease.
Features
Fast, paperless application and approval
Overdraft limit between $10,000 - $50,000
Only pay interest on the amount you use
No assets needed for security
Variable rates from 14.95% p.a.
BUSINESS
Secured Business Loan
Buy commercial space, expand, or refinance.
$0 monthly account fees1
Unlimited repayments
Free redraw
Download our Business app
The business banking app built for smaller small businesses.
  • 100% app-based banking for busy business owners
  • Open accounts and loans entirely online in minutes
  • In-app support (from real people)
Download the app in the App Store
Get it on Google Play
Download the app in the App Store
Get it on Google Play
FAQs
Business loans explained
How do I qualify for a Business+ Unsecured Loan?

You’ll need to meet our eligibility criteria for a Business+ Unsecured Loan. You can find these here.

How much can I borrow through the Business app?

The maximum amount you can borrow depends on your business circumstances and financial situation. Below is a guide of our limits:

What can I use my loan for?

You can use your loan for any business purpose. Eg. stock, equipment or cashflow management.

What documents do I need to apply for a Business+ Unsecured Loan?

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.

When will I get a decision on my loan application?

In most cases, you can expect an indicative decision within minutes of submitting your application and a final decision within 1-2 days.

Why does an unsecured loan have higher interest rate than a secured loan?

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.

What will my interest rate be?

Your interest rate is contained in your loan contract. It's based on information you give us and:

  • Your business credit rating
  • Your repayment history
  • How many loan applications you have made in the past
  • The age of your credit file
When can I access the money?

Once your loan is approved and you (and any guarantors) accept your contract, the money is deposited into your nominated Business+ Account straight away.

How do I access my overdraft?

Your Business+ Unsecured Overdraft is linked to your Business+ Account.

You access your overdraft funds the same way you access your own eg. With your Debit Mastercard, in-app transfers, direct debits, BPAY®, etc.

If you overdraw your Business+ Account, don’t worry, your Business+ Unsecured Overdraft covers you (up to your approved limit) until you get your balance back in the black. You only pay interest on what you have used.

How is interest calculated and paid on Business+ loans?

Business+ Unsecured Overdraft: Interest rate is variable. Calculated daily on the balance owing and debited on the first day of each month.

Business+ Unsecured Loan: Interest rate is fixed, calculated daily on the balance owing and debited monthly on the anniverary when the account was opened.

Do I need to provide security for my loan or overdraft if I apply through the Business app?

No, but if you're borrowing in the name of a company you'll need to provide us your personal guarantee as a director.

Will I be charged a fee for making extra payments on my Business+ Unsecured Loan?

You can make extra repayments whenever you like. An early termination fee and early payment costs apply if you pay out your loan in full before its due date.

Who is Great Southern Bank?

Great Southern Bank is the trading name of Credit Union Australia Limited. You may have previously known us as CUA.

For over 75 years we’ve helped our customers manage their money. We do this by providing clever products and smart tools that help you reach your financial goals sooner. Plus, being customer-owned means that our profits go back into our products and services, not shareholders.

We love helping people reach their financial goals and we can’t wait to help you reach yours, whatever they may be. Download our Business app to get started.

I'm using the Business app. What happens to my other Great Southern Bank accounts?

Only your Business+ accounts are found in your Business app. Your other Great Southern Bank accounts are accessed with the Great Southern Bank app or Online Banking.

For help with anything to do with the Business app, use the in-app Chat. You’ll be helped by one of our team (yep, an actual human).

Can I access my existing Great Southern Bank business products in the Business app?

No. Think of it like our beloved Carlton Football Club men’s and women’s teams. While they’re all part of the same club, they play separately.

It’s the same with your Great Southern Bank products and your Business+ products. They’re all offered by us, but they don’t play together.

Can I get help with the Business app in your branch or call centre?

No. Our Business app is designed to be 100% digital.

For help with anything to do with the Business app, use the in-app Chat. You’ll be helped by one of our team (yep, an actual person).

You may also be interested in

Business+ Account

A business management account for sole traders and small businesses.

Business+ Saver

Reach your goals with our high-interest, no fee savings account.

Everyday Business Account

Keep your business running smoothly with an Everyday Business Account.

Everyday Account for Communties

A feature-packed account for charities and NFPs.

Important Information

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, 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.

If unsecured business loan
Loan term range from 12 months to 36 months for Business+ Loans with choice of fortnightly or monthly repayments only. Variable rate loan and interest only loans are not available.

Principal and interest repayment are fixed for the term of the loan. If you make extra repayments whilst the interest rate is fixed an early termination fee and early payment costs apply if you pay out your loan in full before its due date.

Borrowers do not need to provide an asset as security for this loan except when borrowing in the name of a company each director will need to provide a personal guarantee as a director.

Business+ Unsecured Loan rates range from 11.95% p.a. to 22.95% p.a. Your interest rate will be contained in your loan contract. It’s based on the financial information you give us and your credit score.

If unsecured business overdraft
A Business+ Unsecured Overdraft is a revolving facility subject to annual review.

Business+ Unsecured Overdraft rates range from 14.95% p.a. to 25.95% p.a. Your interest rate will be contained in your loan contract. It’s based on the financial information you give us and your credit score.

1 For a full list of fees, please refer to the Schedule of Fees.

Great Southern Bank Business app
Business+ BSB: 834 472