Finty
SWSbank

SWSbank Commercial Unsecured Loans

Term loanUnsecured

SWSBank has a business loan with flexible terms to suit your budget

Written byDavid Boyd
Interest rate a year, from
12.95%
Establishment fee
Not published
Monthly fee
Not published
Borrow
Up to $30,000

Monthly repayment

$20,000 over 5 years

Apply now

What it would cost

At the lowest published rate of 12.95%. The rate you are offered depends on your business, and the establishment fee is not included.

Monthly repayment
$455
Total repayments
$27,273
Interest
$7,273

Loan details

Rates

Interest rate (a year)
12.95%
Rate type
Variable
Security
Unsecured
Type of finance
Term loan

Limits and fees

Loan amount
Up to $30,000
Loan term
Not published
Establishment fee
Not published
Monthly fee
Not published

How it compares

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

Most you can borrow

$30,000

Typically you can borrow up to $250,000.

Pros and cons

Pros

  • One rate for everyone. Everyone approved gets 12.95%, so the rate you see is the rate you get.
  • No security needed. Your car or home isn't at risk if things go wrong, though missed repayments still hurt your credit report.
  • Redraw. You can take back extra repayments later if you need the money.

Cons

  • A lower limit. Up to $30,000, less than the typical $250,000, so it may not cover a larger purchase.
  • A variable rate. Your repayments can rise if the lender lifts its rate, though they can also fall.

Similar loans

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