A Westpac commercial property loan is a debt-based funding arrangement between a business and Westpac, typically used to fund major capital expenditures and/or cover operational costs that the company may otherwise be unable to afford, as opposed to a loan made to an individual.

Westpac commercial property loan
Westpac commercial property loan

People can get more information about loans which the Westpac offers in a lot of previous posts of us such as Westpac home loan,  Westpac personal loan,  Westpac refinance home loan,  Westpac business loan…

WESTPAC COMMERCIAL PROPERTY LOAN

This post about the Westpac commercial property loan includes five parts, they are “The essentials of the Westpac commercial property loan”, “The benefits of the Westpac commercial property loan”, “The fees and rates of the Westpac commercial property loan”, “Some requirements the Westpac need from the customers” and “Some information people need to provide to Westpac”.

1. The essentials of the Westpac commercial property loan

  • People can control their cash flow with a flexible line of credit.
  • This loan matches the needs of people – the Westpac commercial property loan provides flexibility to choose a line of credit or a term loan, whether people require funding for business expansion or capital investment.
  • This is flexible repayment options – interest only, or principal + interest.
  • People can borrow from $250,000
  • A variable base interest rate (margins apply)
  • The loan terms: 12 – 25 years, depending on the security provided (this can be residential or business assets or commercial property).
  • Multiple ways to access funds including Online, Telephone, Mobile, Tablet Banking (when people are registered for these services), plus ATMs (using a Business Debit Mastercard® linked to the Westpac commercial property loan account) and in branches. Optional checkbook access.
  • This loan is supported by specialist relationship managers, locally based in metropolitan and regional centers throughout Australia.
Westpac commercial property loan
Westpac commercial property loa

2. The benefits of the Westpac commercial property loan

  • Acceptance and convenience
  • Link a Business Debit Mastercard® to the Westpac commercial property loan for convenient access to funds at more than 3,000 Westpac, Bank SA, St.George and Bank of Melbourne ATMs, and wherever Mastercard is accepted throughout Australia and overseas.
  • This loan keeping the bookkeeper happy
  • Help people can save time and money by exporting transactions to the accounting software
  • Opt for eStatements instead of paper and access up to 7 years of transactions.
  • Applying for a Westpac commercial property loan line of credit
  • The Westpac commercial property loan line of credit is set up on the Westpac commercial property Transaction account. People can apply to set up the account and the line of credit at the same time.

3. The fees and rates of the Westpac commercial property loan

3.1. The fees of the Westpac commercial property loan

  • The establishment fees, service, and other fees apply.

3.2. The rates of the Westpac commercial property loan

  • The Westpac Business One Loan variable base rate and any applicable interest rate margins are available on application.

4. Some requirements the Westpac need from the customers

In order to be eligible to apply, you must:

  • You are aged 18 years or over
  • You have regular permanent income
  • You are a permanent resident of Australia or,
  • You hold an acceptable visa (PDF 181KB), have confirmed employment in Australia if they are a non-resident.

If you are ready to apply or want to find out whether you hold an acceptable migrant visa (PDF 181KB), call the Personal Lending Centre on 1300 720 697. This loan is for personal purposes.  If you would like to learn more about the business loans, call Westpac Business on 132 142 (8am-8pm, Mon-Fri).

5. Some information people need to provide to Westpac

Before applying for the Westpac commercial loan, you should review the Identification Checklist for Individual Customers (PDF 768KB)

You will need to provide details of the current financial situation, including:

  • The current your name, your address, and your phone number
  • The recent tax information, if you are self-employed
  • The weekly after-tax income for each person applying for the loan
  • The asset, savings and investment details
  • Other debts (credit cards, store accounts, etc)
  • Everyday expense details.

The Westpac may contact you using the details they provide to help you complete your application. If you are already a Westpac customer, check that the details Westpac has on record are up to date before proceeding. You can confirm these details in Westpac Online Banking or by calling 132 032. Allow 24 hours for records to update.

There is a lot of information about a variety of loans in Australia, people can read about the online loans, quick cash loans, short-term loans, fast cash loans… If people are looking for these loans, you can click to links instant cash loans at Brishbane, same day loans at Melbourne

Besides, if you want to get personal loans from the Westpac, you can get a lot of information from the previous posts of us about Some things people should know about the Westpac personal loan.

Hillary (Team Content) – Info Credit Free