Heartland Extend for businesses

Need help to manage your existing loan repayments? Take control of your loan repayments and ease cash flow pressure with Heartland Extend for businesses.

What is Heartland Extend?

Heartland Extend gives you control and flexibility over your loan repayments – allowing you to adjust your payments when you need to, with no fees to make these changes.

You’ll have the option to reduce your regular repayment amounts now, or have the flexibility to adjust them in the future if your situation changes. We’ll do this by making changes to the term of your loan. We’ll continue to work with you to determine the repayment amounts and term which suit your situation.

Ease cash flow

Ease cash flow pressure

Lower regular repayments

Flexible regular repayments

Additional funding available

Additional funding available

Annual review

Annual review

Ease cash flow

Ease cash flow pressure

Lower regular repayments

Flexible regular repayments

Additional funding available

Additional funding available

Annual review

Annual review

How does it work?

With flexible repayment amounts to suit your situation, Heartland Extend could help your business ease cash flow and get back on its feet.

Heartland Extend replaces your existing business loan and gives you the option to either reduce your regular loan repayments immediately, or at any time during the term of the loan (as long as you give us five working days’ notice). You can also make a part or full repayment of your loan at any time, at no cost.

You’ll have more control over your repayments

If you want to make changes to your repayments at any time before or after the annual review, just get in touch.

At the beginning of the loan, if you chose the option to keep your repayment amounts as they are and reduce them at a later date during the term of the loan, then you can request to have your repayments reduced at any time by giving us five working days’ notice.

You also have the control and flexibility to make extra repayments at any time, at no extra cost.

We’ll check in with you regularly

Heartland Extend is being offered to help alleviate COVID-19 related difficulties. We understand that your business’ situation may change frequently, so we’ll review your loan annually to assess whether the difficulties you were experiencing have been eased, whether the loan is still suitable for your needs and whether your repayment amounts should be adjusted.

As a result of the review, we may determine that changes need to be made to your loan. The review could include considering whether you still require the right to reduce your repayment amounts or if your scheduled repayments should be increased (up to the amounts payable under your original business loan). Following the review, we can change your agreement accordingly.

You should also contact us if your business’ situation significantly changes. See the FAQs below for more information about the annual review and changing your repayments.

Important information about extending your term

It’s important to know that a longer loan term will increase the total amount owed over the lifetime of the loan due to the interest that will accrue. A longer term will also extend the term of your repayment obligations to us. However, a longer loan term will also reduce your regular repayments, and should help to make your loan more manageable while you get your business back on its feet.

See the example below to see how this might affect your loan. The interest rates used for the example below is 14% p.a.

5 year term at 14%p.a Monthly repayments: $1,164

5 year term at 14%p.a
Monthly repayments: $1,164

10 year term at 14%p.a Monthly repayments: $777

10 year term at 14%p.a
Monthly repayments: $777

Total interest

Loan amount

Loan amount

Total interest

5 year term at 14%p.a Monthly repayments: $1,164

5 year term at 14%p.a
Monthly repayments: $1,164

10 year term at 14%p.a Monthly repayments: $777

10 year term at 14%p.a
Monthly repayments: $777

Apply for Heartland Extend

I would like to apply for:

Heartland Extend

Heartland Extend + additional funding

Heartland Bank’s lending criteria, terms and conditions apply.

Frequently asked questions

Heartland Extend is being offered to replace your existing Heartland Bank business loan and help alleviate the difficulties being caused to your business as a result of COVID-19. We’ll review your loan annually to assess whether those difficulties have been eased, whether the loan is still suitable for your needs, and discuss whether your repayment amounts (and therefore term) should be adjusted. We may ask you for additional information for the purposes of this review.

We may determine, as a result of the review, that changes should be made to your loan (in particular, that the difficulties have alleviated such that you no longer require the right to reduce your repayment amounts or your repayment amounts can increase up to amounts payable under your previous business loan) and we have the right to change your agreement accordingly. You should also contact us if your business’ situation significantly changes.

When you choose to lower your repayment amounts for your Heartland Extend loan, the term of your loan will be extended. Extending the term of your loan will help to reduce your regular loan repayments so you won’t have to pay as much as you currently do each week, fortnight or month. As your situation changes, you can also choose to increase your repayment amounts and shorten the term of your loan, and we encourage you do so if you can.

Changing the term of your loan will also impact the total amount of interest you pay as it accrues over the lifetime of the loan. The longer the term of your loan, the greater the amount of interest you’ll need to pay.

By extending the term of your loan, you’ll have a longer period over which to pay off your loan. This may help to reduce regular repayments, but it may also mean that you could end up paying more interest over the lifetime of the loan as interest will accrue over a longer period. We understand your business needs may change over time, so you’re always welcome to contact us to discuss your loan.

With Heartland Extend, you have the flexibility to request changes to your regular repayment amounts when you need to and as your situation changes.

While reduced repayments (through a new loan with a longer term) may be suitable for your needs now due to the impact of COVID-19, the position of your business may change over time.

We’ll check back in with you at least annually and will continue to work with you to ensure your loan still meets your needs.

If you’d like to make changes to your repayments outside of the annual review, just get in touch. You have the control and flexibility to increase your repayments as and when you need to, at no cost.

At the beginning of the loan, if you chose the option to keep your repayment amounts as they are and reduce them at a later date during the term of the loan, then you can request to have your repayments reduced at any time by giving us five working days’ notice.

You should also contact us if your business’ situation significantly changes.

Interest rates vary based on your current situation. We’ll advise the interest rate for your loan when we review your application.

Not what you’re looking for?

Are you looking for Heartland Extend for a vehicle or personal loan?
If so, call us on 0800 420 842.

Prefer to talk directly to one of our business specialists?

Email Heartland

Email us

[email protected]

We will be in touch within the next working day.

Call Heartland

Call us

Phone: 0800 88 40 40

Available: 9am–5pm, Mon–Fri (exclusive of public holidays)