Suncorp Bank is now offering eligible small businesses increased business loan terms up to 30 years.
This will be applicable for all SME transactions up to $3 million and is available now.
Suncorp Bank has also expanded its LVR ratios (80% for commercial and 100% for residential) and simplified its minimum document requirements. The previous LVR ratios were 70% for commercial and 80% for residential.
Suncorp Bank executive manager for broker partnerships Robynne Frost (pictured above) said SMEs were the priority and Suncorp had listened to their feedback.
“Small businesses are bouncing back from this pandemic stronger than ever and we’re doing what we can to make it easier for them to grow,” Frost said. “More flexible business loans with increased loan terms will help support businesses with their working capital requirements. With the reduction to minimum documentation requirements, it streamlines the loan assessment process and makes it easier to do business with us.”
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Suncorp customers who are interested in business lending can access more information at Suncorp’s website or speak with their dedicated SME BDM.
Suncorp Bank has also teamed up with OzHarvest, Australia’s lead food rescue organisation, allowing Suncorp customers to turn their grocery bills into nutritious meals for those in need through a new offering.
Suncorp Bank is now donating 25 meals to OzHarvest on behalf of every customer who opens a Suncorp Everyday Account.
When one of these customers spends $250 or more across five transactions at the supermarket within the first two months of opening the account, they will receive $25 cashback from Suncorp Bank.
To kickstart the new offer and in recognition of the loyalty of existing customers of Suncorp Bank, it is also donating 100,000 meals to OzHarvest.
Suncorp Bank CEO Clive van Horen (pictured below) said the bank wanted its customers to feel good knowing that how they chose to bank helped create a brighter future for someone going through a tough time.
“For every customer who signs up for a new Everyday account with us, we’ll help OzHarvest deliver the equivalent of 25 nutritious meals to feed people and families in need,” van Horen said.
OzHarvest national partnership lead Hally Lara said the Suncorp Bank campaign would help raise valuable funds at a time when food relief was in high demand.
“We’re thrilled to work with Suncorp Bank to raise awareness about our work in the community and provide extra meals to those who need it most during these challenging times,” Lara said.
