Our Business+ finance options are designed for small business owners who can’t get what they need from other banks – a simple, fast and supportive lending experience.
With loan and overdraft applications done entirely online or in the Business+ app, there’s no paperwork to print and return so you have access to your funds sooner.
If you need some extra money to grow or keep your business running smoothly, there’s a Business+ finance option to suit. Applications take just a few minutes and help is at hand with live chat support from our experienced team.
Enter your business details online or in the Business+ app.
Apply for a Business+ Unsecured Overdraft or Business+ Unsecured Loan in minutes
Everyday business banking, savings and finance all in the Business+ app.
You’ll need to meet our eligibility criteria for a Business+ Unsecured Loan. You can find these here.
The maximum amount you can borrow depends on your business circumstances and financial situation. Below is a guide of our limits:
You can use your loan for any business purpose. Eg. stock, equipment or cashflow management.
When you apply for business finance, you (and any directors, partners or guarantors) may need to provide:
These documents help us understand your business’s financial position.
In most cases, you can expect an indicative decision within minutes of submitting your application and a final decision within 1-2 days.
Unsecured business loans typically have higher interest rates than secured loans because the lender is taking on more risk by lending money without any collateral.
Your interest rate is contained in your loan contract. It’s based on information you give us and:
Once your loan is approved and you (and any guarantors) accept your contract, the money is deposited into your nominated Business+ Account straight away.
Your Business+ Unsecured Overdraft is linked to your Business+ Account.
You access your overdraft funds the same way you access your own eg. with your Debit Mastercard, in-app transfers, direct debits, BPAY®, etc.
If you overdraw your Business+ Account, don’t worry, your Business+ Unsecured Overdraft covers you (up to your approved limit) until you get your balance back in the black. You only pay interest on what you have used.
An overdraft is a line of credit with a limit approved by your bank. It lets you draw on that money as you need it.
A loan is a fixed amount of borrowing upfront which is repaid over a set term with regular repayments.
Business+ Unsecured Overdraft: Interest rate is variable. Calculated daily on the balance owing and debited on the first day of each month.
Business+ Unsecured Loan: Interest rate is fixed, calculated daily on the balance owing and debited monthly on the anniversary when the account was opened.
No, but if you’re borrowing in the name of a company you’ll need to provide us your personal guarantee as a director.
You can make extra repayments whenever you like. An early termination fee and early payment costs apply if you pay out your loan in full before its due date.
Great Southern Bank is the trading name of Credit Union Australia Limited. You may have previously known us as CUA.
For over 75 years we’ve helped our customers manage their money. We do this by providing clever products and smart tools that help you reach your financial goals sooner. Plus, being customer-owned means that our profits go back into our products and services, not shareholders.
We love helping people reach their financial goals and we can’t wait to help you reach yours, whatever they may be. Jump on Business+ online or download our Business+ app to get started.
Only your Business+ accounts are found on Business+ online and your Business+ app. Your other Great Southern Bank accounts are accessed with the Great Southern Bank app or Online Banking.
No. Think of it like our beloved Carlton Football Club men’s and women’s teams. While they’re all part of the same club, they play separately.
It’s the same with your Great Southern Bank products and your Business+ products. They’re all offered by us, but they don’t play together.
If you have banking that isn’t part of the Business+ suite of products, you’ll need to use the Great Southern Bank app or Online Banking.
No. Our Business+ products are designed to be 100% digital.
For help with anything to do with your Business+ products, use the Chat in the Help section of Business+ online or the Business+ app. You’ll be helped by one of our team (yep, a real person).
Great Southern Bank, a business name of Credit Union Australia Ltd ABN 44 087 650 959, AFSL 238317. Conditions, fees and charges apply. Information on Business+ accounts is general information and does not consider your objectives, financial situation or needs. Consider the appropriateness of the information, including the Business Banking Terms & Conditions (T&Cs) booklet, before acting on it.
The product is only available to approved applicants for business purposes. Lending criteria, limits, conditions, and fees apply. Applications are subject to credit approval.
If unsecured business loan
Loan term range from 12 months to 36 months for Business+ Loans with choice of fortnightly or monthly repayments only. Variable rate loan and interest only loans are not available.
Principal and interest repayment are fixed for the term of the loan. If you make extra repayments whilst the interest rate is fixed an early termination fee and early payment costs apply if you pay out your loan in full before its due date.
Borrowers do not need to provide an asset as security for this loan except when borrowing in the name of a company each director will need to provide a personal guarantee as a director.
Business+ Unsecured Loan rates range from 11.95% p.a. to 22.95% p.a. Your interest rate will be contained in your loan contract. It’s based on the financial information you give us and your credit score.
If unsecured business overdraft
A Business+ Unsecured Overdraft is a revolving facility subject to annual review.
Business+ Unsecured Overdraft rates range from 14.95% p.a. to 25.95% p.a. Your interest rate will be contained in your loan contract. It’s based on the financial information you give us and your credit score.
1 For a full list of fees, please refer to the Schedule of Fees.
