Finty
Westpac

Westpac Unsecured Business Loan

Term loanUnsecured

Find out how you could get an unsecured loan for up to $250k to grow your business without using assets to secure the loan

Written byDavid Boyd
Interest rate a year, from
14.15%
Establishment fee
$250
Monthly fee
None
Borrow
$5,000 to $250,000

Monthly repayment

$100,000 over 5 years

Apply now

What it would cost

At the lowest published rate of 14.15%. The rate you are offered depends on your business, and the establishment fee is not included.

Monthly repayment
$2,335
Total repayments
$140,077
Interest
$40,077

Loan details

Rates

Interest rate (a year)
14.15%–14.40%
Rate type
Fixed
Security
Unsecured
Type of finance
Term loan

Limits and fees

Loan amount
$5,000 to $250,000
Loan term
1 year to 5 years
Establishment fee
$250
Monthly fee
None

How it compares

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

Most you can borrow

$250,000

Typically you can borrow up to $250,000.

Pros and cons

Pros

  • A fixed rate. Your repayments stay the same for the whole loan, which makes it easier to budget.
  • No security needed. Your car or home isn't at risk if things go wrong, though missed repayments still hurt your credit report.
  • Extra repayments. Paying more than the minimum pays the loan off sooner and cuts the interest you pay.
  • No early repayment fee listed. You can pay the loan off early, or refinance, without a penalty. Check the terms to be sure.

Cons

  • Your rate isn't known until you apply. It's set by your credit history and finances, anywhere from 14.15% to 14.40%, and only some people get the starting rate.

Similar loans

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