CBA Commercial

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CBA Commercial

Founded: 1911

Lender Type: Major Bank

Owned by: ASX Limited

CBA is one of Australia’s largest banks, with several financial brands under its wide-reaching umbrella, including Bankwest, New Zealand’s ASB Bank, CommSec and CommInsure. CBA has a unique history. It was founded by the national government under the Commonwealth Bank Act and has, at times, played a vital role in the Australian central banking system. Today, it is a financial institution with an international presence and is the dominant bank in the southern hemisphere, making it a convenient option for businesses and entrepreneurs who want to streamline their business banking and financing needs with a bank that offers branch access and a variety of products.

Key Benefits

Branch access in Australia and abroad
Convenient online and mobile transactions
Attractive secured loans

Drawbacks

Fees are relatively high on some commercial products
Need assets as security for best rates
Conservative lending policy

Lending Products

Lending Product Description

BetterBusiness Loan

Designed for growth opportunities and business initiatives, CBA’s BetterBusiness Loan has a $25,000 minimum and can meet the financing needs of any size company. Choose either a fixed rate loan with terms up to 7 years, and 10 years for agribusiness borrowers, or a variable rate loan. If you secure the loan with residential property, expect a competitive rate and the potential for up to a 30-year term. This loan offers plenty of control over how you use your money; you can use your surplus repayments when you need them.

Simple Business Overdraft

Give your small business room to capture opportunities and keep business flowing when your cash flow is stalled. Simply Business Overdraft is ideal for sole traders and partnerships. You can access funds from your transaction account up to your set limit. Enjoy the convenience of round-the-clock access to your funds online, by phone, with the CommBank app or an ATM. You’ll also benefit from real-time SMS alerts that keep you on top of what’s going on with your account.

Business Overdraft

For mid-sized to larger organisations, Business Overdraft offers the right amount of flexible credit to easily manage seasonal or unexpected business expenses. Instead of having to seek out fast financing, which is likely to come with a high rate, you can have this facility in place for accessible cash 24/7. The Business Overdraft facility starts at a minimum of $50,000 and can be secured or unsecured.

Bank Guarantee

With a Bank Guarantee from CBA, you can give your customers or suppliers total confidence in doing business with you. Choose from a variety of assets to secure your Guarantee, including cash or investment accounts, which allow you to earn interest on your secured cash. Financing approval time is quick so you can move forward with opportunities right away and help to build your business relationships.

Business Line of Credit

With approved amounts starting out at $50,000, this long-term debt facility gives businesses fast access to necessary funds for investment or expansion. As a line of credit loan product, you’ll only pay interest on the actual debt you’re using. CBA lets you combine your Business Line of Credit facility with your transaction account to help simplify the way you manage your money.

Market Rate Loan

With plenty of flexibility and control, you can make CBA’s Market Rate Loan work for you, so you always have cash on hand to meet your business needs, from paying suppliers to taking advantage of sudden opportunities. Save money by using the current market rate and choosing a one to six-month rollover. You can opt to pay interest-only, repaying the principal when it works for your business.

Bill Facility

This type of loan can free up your business to make a purchase or cover expenses without having to make repayments until a future date. The advantage of a bill facility is that you are protected from interest rate fluctuations and you can structure the loan to work for you. CBA gives you a settlement sum, less than the face value of the bill. On the maturity date of the bill, you pay back the settlement price along with interest. The minimum borrowing amount is $500,000.

CommSec Margin Loan

The CommSec Margin Loan is designed for businesses who want to use margin lending to grow their wealth through lending, also known as gearing. There may be tax advantages, making this a useful option for business borrowers who are already in a strong financial position and are aware of the risk involved. You can use your current shares or cash as collateral to secure the loan.

Agribusiness Line of Credit

This ongoing loan comes with no set term and interest-only payments. Also known as an evergreen’ facility, it was designed for agribusiness borrowers. It can be used to access funds to make business investments or expand, as long as the money borrowed is less than the agreed limit. You can make repayments at your pace and redraw at any time. This type of flexibility is ideal for agriculture businesses who are often at the mercy of seasonal fluctuations.

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