Finty
Coastline

Coastline Interest Only (Commercial)

Term loan

Term loan from Coastline, with rates from 10.86% a year.

Written byDavid Boyd
Interest rate a year, from
10.86%
Establishment fee
$5
Monthly fee
Not published
Borrow
Not published

Monthly repayment

$100,000 over 5 years

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What it would cost

At the lowest published rate of 10.86%. The rate you are offered depends on your business, and the establishment fee is not included.

Monthly repayment
$2,167
Total repayments
$130,036
Interest
$30,036

Loan details

Rates

Interest rate (a year)
10.86%
Rate type
Variable
Security
Not published
Type of finance
Term loan

Limits and fees

Loan amount
Not published
Loan term
Not published
Establishment fee
$5
Monthly fee
Not published

How it compares

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

Cost of $20,000 over 5 years

$6,012

Interest and fees at its starting rate. Typical is $4,473.

Setup fee

$5

A typical setup fee is $26.

Pros and cons

Pros

  • One rate for everyone. Everyone approved gets 10.86%, so the rate you see is the rate you get.
  • Extra repayments. Paying more than the minimum pays the loan off sooner and cuts the interest you pay.
  • 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

  • A variable rate. Your repayments can rise if the lender lifts its rate, though they can also fall.
  • A $5 late payment fee. Setting up automatic repayments avoids it.

Similar loans

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