Liberty Financial Short term commercial loan

Term loan

This product is also referred to as the Boost product

Monthly repayment

$100,000 over 3 years

What it would cost

At the lowest published rate of 10.05%. The rate you are offered depends on your business, and the establishment fee is not included.

BorrowOver

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

Setup fee

$795

A typical setup fee is $26.

Most you can borrow

$4,000,000

Typically you can borrow up to $5,000,000.

Longest term

3 years

3 years is the usual longest term.

One rate for everyone. Everyone approved gets 10.05%, so the rate you see is the rate you get.
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.

A higher setup fee. $795, above the typical $26. It's usually added to the loan, so you pay interest on it too.
A variable rate. Your repayments can rise if the lender lifts its rate, though they can also fall.

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