Finty
Cairns Bank

Cairns Bank Commercial Loan

Term loanSecured

Secured loan for commercial purposes, including the purchase of the commercial premises for business or investment purposes and overdraf facitlies

Written byDavid Boyd
Interest rate a year, from
7.29%
Establishment fee
Not published
Monthly fee
Not published
Borrow
From $5,000

Monthly repayment

$100,000 over 2 years

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What it would cost

At the lowest published rate of 7.29%. The rate you are offered depends on your business, and the establishment fee is not included.

Monthly repayment
$4,490
Total repayments
$107,770
Interest
$7,770

Loan details

Rates

Interest rate (a year)
7.29%
Rate type
Fixed
Security
Secured
Type of finance
Term loan

Limits and fees

Loan amount
From $5,000
Loan term
Up to 2 years
Establishment fee
Not published
Monthly fee
Not published

How it compares

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

Longest term

2 years

3 years is the usual longest term.

Pros and cons

Pros

  • One rate for everyone. Everyone approved gets 7.29%, so the rate you see is the rate you get.
  • A fixed rate. Your repayments stay the same for the whole loan, which makes it easier to budget.
  • Redraw. You can take back extra repayments later if you need the money.
  • No early repayment fee listed. You can pay the loan off early, or refinance, without a penalty. Check the terms to be sure.

Cons

  • Secured against an asset. That usually keeps the rate down, but the lender can take the asset if you can't repay.

Similar loans

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