Westpac Business Loans | Commercial Banks

Westpac Business Loans

Westpac Banking Corporation – Westpac – has the honour of being the oldest bank in Australia. The bank was founded in 1817 as the Bank of New South Wales and following a number of rebranding and change of name in 1982, is now known simply as Westpac.

Westpac is one of the prominent Big Four banks in Australia, along with CBA, ANZ and NAB and together, these banks control the major commercial banking in the country. Westpac provides services in consumer banking, institutional banking, wealth management and of course to the commercial sector.

We have connections with Westpac and the bank is a key inclusion on our lending panel. Existing customers of Westpac and those that don’t hold accounts with the bank can apply directly for commercial loans.

In the area of commercial financing, Westpac offers many options to assist organisation’s to better manage their cash flow and to purchase new and upgrade commercial vehicles and equipment. More info on Westpac

Westpac Business Loans include:

• Business Car Loan
• Commercial Equipment Lending
• Business Overdraft – Secured and Unsecured Options
• General Commercial Lending from $20,000
• Bank Bills up to $250,000
• Bank Guarantee
• Financing Agricultural Businesses
• Chattel Mortgage Equipment
• Commercial Insurance Premium Funding

The bank website outlines some of the details around each lending type with the maximum and minimum lending amounts, estimates on interest rates and other conditions. For example, the advertise for motor vehicle and equipment financing, a minimum of $15,000 amount and terms up to 5 years. Depending on the credit type, the interest rate for Westpac commercial lending might be at a fixed or variable rate.

Commercial Loan Products

For the purchase of goods and assets, primarily vehicles, trucks and equipment, Westpac offers the major commercial lending products including:

• Lending Lease
• Commercial lending, which is also known as a Chattel Mortgage
• Commercial Hire Purchase

Sourcing a Westpac Business Loan

We can connect you with the team at Westpac to discuss your requirements. As a major bank, Westpac has strict guidelines around lending that their lending team must comply with in addition to meeting their obligations under legislation. This may pose issues for some commercial organisation’s in attempting to negotiate more flexible arrangements.

Alternatively, many organisation’s prefer to use the services of a broker who is accredited with Westpac to handle their negotiations. Brokers usually have greater bargaining power in such discussions than an individual commercial enterprise may have and can achieve a better result. If you would prefer a broker to handle your Westpac loan, we can connect you with highly trained, professional lending brokers.

Whatever your preference, we can offer a streamlined process for sourcing a quote for your Westpac commercial loan.

The Process

• Provide us with the details of your organisation and your commercial loan requirements.
• If you have specific reasons for Westpac to provide your loan, please advise us.
• Your request will be assessed by our lending team.
• You will then be provided with a shortlist of banks and lenders, including Westpac which we consider meet your criteria.

We are essential tool for business to access Westpac services.

Connect with us to be connected with the right commerciual loan specialist to discuss your commercial loan requirements.