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Term Loan

Whether you’re buying a business, purchasing a new asset, or just need an extra boost, a Term Loan could help give you the cash injection you’re after.

Unsecured lending options are available, meaning you don’t need to own a home or large asset to help make your business dreams a reality.

How does Heartland’s Term Loan work?

We want to make banking easy. That’s why we’ve built an online Term Loan application that can be completed in a matter of minutes.

You can fill out the easy online application anytime, anywhere. Within a few seconds we’ll give you an initial decision and ask for some further information and verifying documentation. If your loan is approved, you could get access to the funds in a matter of days.

Heartland offers loan terms of up to five years with regular principal and interest repayments. If you’re hoping to take out a loan with a longer term and flexible monthly repayments, have a look at Heartland Extend.
Interest rates start from 7.95% p.a. and depend on a range of factors. Once you have completed the online application, one of our lending specialists will discuss interest rates and repayments with you.
The minimum Heartland Term Loan amount is $10,000, and there is no maximum. However, we will need additional information and partial security for any amount above $100,000. Any amount above $250,000 will require full security.
You don’t have to bank with Heartland in order to take out one of our Term Loans. They’re designed to work in conjunction with your existing everyday business bank account.
Depending on the purpose of the loan, we will distribute the funds accordingly. For example, if you need a boost in working capital, the money will be credited to your nominated business account. If you’re buying a business, we’ll pay the funds directly to the seller of the business, so you don’t need to do anything! Once your loan has been approved, you’ll be informed of how and when you’ll be able to access the funds.
Lending criteria, terms and conditions apply

What can I do with a Term Loan?

Term loans for business can be used for many different purposes. The below examples are just a few of the potential possibilities!

  • Upgrade or buy equipment, machinery or a vehicle

  • Inject cash into your business

  • Buy a business or expand yours

  • Consolidate multiple debts into one

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