Finty
Sandhurst Trustees

Sandhurst Trustees Commercial Loan

Term loanSecured

Commercial Term Loan requiring first mortgage security. Borrowers can choose from Interest Only, Principal and Interest, with variable and fixed rate options.

Written byDavid Boyd

6.85%

interest rate a year, from

Establishment fee
Not published
Monthly fee
Not published
Borrow
$100,000 to $20,000,000

Loan details

Rates

Interest rate (a year)
6.85%–7.40%
Rate type
Fixed
Security
Secured
Type of finance
Term loan

Limits and fees

Loan amount
$100,000 to $20,000,000
Loan term
1 year to 5 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.

Most you can borrow

$20,000,000

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

Longest term

5 years

3 years is the usual longest term.

Pros and cons

Pros

  • Room to borrow more. Up to $20,000,000, more than the typical $5,000,000, which can cover bigger costs in one loan.
  • 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.

Cons

  • Your rate isn't known until you apply. It's set by your credit history and finances, anywhere from 6.85% to 7.40%, and only some people get the starting rate.
  • Secured against an asset. That usually keeps the rate down, but the lender can take the asset if you can't repay.
  • An early repayment fee. Paying the loan off early or refinancing can cost a fee, which cuts into what you save by repaying sooner.
  • A $65 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.