For small and medium businesses that have been impacted by COVID - 19, Summerland is offering unsecured business loans of up to $100,000 to support current and upcoming cash flow needs (including working capital, liquidity and operating expenditure).

The Benefits

  • Unsecured business loan of up to $100,000*
  • Variable interest rate of 6.4% PA
  • No repayments for the first six months; Interest will continue to accumulate and be charged to your loan during this period; principal and interest repayments will apply after this period
  • Term of the loan is up to three years
  • Loans are available to new and existing customers who operate small and medium businesses, including sole traders
  • Offset transaction account is available to reduce loan interest and assist to pay off the loan sooner
  • Borrowers are not required to provide an asset as security for the loan**

How to apply?

All existing and new business customers can enquire about our Business Support Loans by filling in the form below or by calling our Contact Centre on 1300 802 222.

*Conditions, fees, and eligibility criteria may apply.
** A guarantee will be required from directors, when a loan is provided to a company.
Business Support Loan: Summerland Credit Union has been approved by the Commonwealth Government as a participating lender in its Coronavirus SME Guarantee Scheme. The offer is available to new or existing business customers with a combined annual turnover of less than $50m across all their related business entities. The Scheme will be available for new loans until 30 September 2020. Loans must be used for business purposes only to support current and upcoming cash flow needs. Loans cannot be used to refinance drawn facilities with Summerland or any other lender. The total sum of your unsecured loans (including those from other financial institutions) relating to COVID-19 relief must not exceed $250,000. Rates are subject to change. Terms and conditions available upon request. See us for details.