Bankwest Commercial

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Bankwest Commercial

Founded: 1895

Lender Type: Major Bank

Owned by: CBA

Bankwest has a long history as a regional and later a national bank. It was formed in 1895 as the Agricultural Bank of Western Australia to finance the needs of WA farmers. Since then, the bank has become a nationwide commercial lender, opening their first branch in Sydney in 1985. Bankwest grew to become a successful lender for development loans before the Global Financial Crisis, offering low rates. In the midst of the GFC, Bankwest was sold to CBA, at which point they shifted from a focus on commercial development lending to less risky standard commercial properties. Today they have a variety of commercial financing options, suitable for both new and established businesses.

Key Benefits

Competitive rates with secured loans
Local branches
Flexible overdraft options for business

Drawbacks

Strict lending criteria
Unsecured loans not as competitive
Challenging for businesses that lack established borrowing history

Lending Products

Lending Product Description

Business Low Rate Loan

A straightforward, competitive commercial business loan with just the right amount of flexibility. This loan product comes with a low-interest rate and the ability to switch from a variable interest rate to fixed. Pay down your loan quickly and then enjoy free access to surplus funds with a free redraw. You can also frame your repayment structure around your cash low. The minimum loan amount is $10,000.

Business FeeSaver Loan

Save on loan maintenance and bank establishment fees with this variable rate business loan. Bankwest’s Business FeeSaver comes with the same flexible features as their Low Rate loan product flexible repayment structuring, free redraw, and you can nominate a preferred interest raising date, depending on your anticipated cash flow.

Commercial Advance

A fixed rate commercial loan with flexibility, Bankwest’s Commercial Advance lets you tailor your interest rate terms and use multiple limits within one account. This gives you the opportunity to protect your business from adverse rate movements and set your loan to revolve around your cash flow needs. This loan is for more established businesses with a solid credit history and asset ratio; borrow a minimum of $1,000,000. Loan terms are available for up to five years.

Business Fixed Rate Loan

Stabilising your business’s financing expenses can help you to better manage fluctuating profits. Bankwest’s Business Fixed Rate Loan is suitable for small to mid-sized organisations who want to be able to predict their repayments ahead of time. You can fix your rate for up to five years and then keep your account number when you switch to a variable rate on a date you nominate. Set your repayment timeline around your cash flow with monthly, quarterly, bi-annual and annual options. The minimum loan amount is $10,000.

Business Overdraft

It’s part of running a business you never know when opportunities will come up where you’ll need extra cash. With Business Overdraft, you’ll always have the money you need to pay suppliers, bills and employees. You can access funds up to your agreed limit and then repay when you are able to; there are no set repayments. Online banking offers added convenience. You can draw down funds 24/7. Opt for a secured or unsecured overdraft facility, just keep in mind you’ll get a lower rate when you secure your loan with an asset.

AgriOne Overdraft

Designed for the needs of agriculture business owners, AgriOne Overdraft provides a flexible source of cash with a minimum amount of $5,000. You’ll always have the financial resources you need to cover expenses, pay suppliers and employees, or to take advantage of a business opportunity. Enjoy the peace of mind that your farm or other agri business is always ready to cope with industry market fluctuations. There are no set repayments and you can access funds anytime either online or through an ATM.

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