Finty
Beyond Bank Australia

Beyond Bank Australia Business Loan

Equipment finance

A Business Loan is a simple, low cost way to finance small business needs, like purchasing a new vehicle. With a fixed interest rate, this Business Loan gives you security of knowing your repayments won't change.

Written byDavid Boyd
Interest rate a year, from
7.04%
Establishment fee
$35
Monthly fee
Not published
Borrow
$5,000 to $140,000

Monthly repayment

$100,000 over 5 years

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What it would cost

At the lowest published rate of 7.04%. The rate you are offered depends on your business, and the establishment fee is not included.

Monthly repayment
$1,982
Total repayments
$118,920
Interest
$18,920

Loan details

Rates

Interest rate (a year)
7.04%–13.50%
Rate type
Fixed
Security
Not published
Type of finance
Equipment finance

Limits and fees

Loan amount
$5,000 to $140,000
Loan term
Up to 7 years
Establishment fee
$35
Monthly fee
Not published

How it compares

Against the other business loans we compare. Typical means the middle half of them.

Comparison rate

8.05%

From 8.05%. A typical loan starts at 8.05%.

Cost of $20,000 over 5 years

$3,819

Interest and fees at its starting rate. Typical is $4,272.

Setup fee

$35

A typical setup fee is $395.

Most you can borrow

$140,000

Typically you can borrow up to $150,000.

Longest term

7 years

7 years is the usual longest term.

Pros and cons

Pros

  • A fixed rate. Your repayments stay the same for the whole loan, which makes it easier to budget.
  • Extra repayments. Paying more than the minimum pays the loan off sooner and cuts the interest you pay.
  • No early repayment fee listed. You can pay the loan off early, or refinance, without a penalty. Check the terms to be sure.

Cons

  • Your rate isn't known until you apply. It's set by your credit history and finances, anywhere from 7.04% to 13.50%, and only some people get the starting rate.

Similar loans

Business loans of the same kind from other lenders that start at a similar interest rate.