St. George Commercial

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St. George Commercial

Founded: 1937

Lender Type: Major Bank Subsidiary

Owned by: Westpac

St. George has etched out a noteworthy niche for itself as a competitive mortgage lender with high-quality customer service. The bank is now building its offerings for commercial customers, again focusing on a combination of attractive interest rates and convenience for borrowers. Westpac purchased St. George in 2009, boosting the banks reputation as a subsidiary of one of Australias Big Four.

Youll find a variety of business lending products, low rates and an excellent online suite of services, making it easy to streamline all your business banking needs with one financial institution.

Key Benefits

Competitive interest rates
Can combine banking and borrowing facilities
Dependable customer service

Drawbacks

Branches hard to find outside of NSW
Strict lending policies
High fees on some commercial products

Lending Products

Lending Product Description

Vehicle and Equipment Finance

With loan terms ranging from 1 to 7 years and flexible repayment terms, St. George makes it easier for businesses to access the vehicle or equipment they need. Take out a Goods Loan so you can own your asset or choose a Hire Purchase, Finance Lease or Novated Lease if you dont want to commit to ownership. The minimum financing amount is $15,000.

Small Business Loans

Whether you want to have better management over cash flow fluctuations or you need money for growth, a small business loan can set you up to achieve your goals. St. George offers both a fixed and a variable rate loan you can repay over a 25-year or 30-year term. Borrowing amounts start at $20,000. There are no fees for additional repayments.

Business Maximiser

This is an all-in-one commercial borrowing option. Youll be able to use it for day-to-day transactions, making it even easier to run your business with ease, even during seasonal fluctuations. There are no fixed monthly repayments and you only pay interest on the outstanding balance. You can access your funds with a Business Visa Debit Card, internet or phone banking, or by going into a St. George branch. Loan amounts range from $20,000 to $1 million. This variable rate loan needs to be secured with either cash or a residential property.

Commercial Overdraft

This is a flexible, short-term financing option, designed for small businesses registered in Australia. Youll have 24/7 access to your transaction account, where you can use funds up to your approved limit. This is a variable rate loan, which can be secured with cash, business assets or your property.

Unsecured Commercial Overdraft

St. George also offers an unsecured commercial overdraft product. Its a smaller loan borrow up to $50,000 but it still offers the flexibility you need. You repay when you can and are only charged interest on your outstanding balance. A variable rate applies. Also, this loan does come with establishment fees and monthly fees as long as you have a balance.

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