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BOQ Specialist announces support for Australian businesses as part of the SME Recovery Loan Scheme

Sydney, 7 October 2021

BOQ Specialist has today announced a range of benefits for eligible businesses as part of the Federal Government’s expanded SME Recovery Loan Scheme, to support those impacted by the COVID-19 pandemic and to help kick-start the Australian economy.

Financial support available to eligible BOQ Specialist clients from today includes:

Up to $5 million SME Recovery Loan Scheme lending per business entity ABN

Up to 100% Loan to Value Ratio (LVR) for owner occupied commercial property*

Up to 85% Loan to Value Ratio (LVR) for investment commercial property*

Up to 10 years interest only for commercial property loans and up to 3 years interest only for goodwill loans*

Low interest rates*

Reduced documentation required for eligible investment commercial property up to 70% LVR^

No establishment fee and no ongoing fees^

A maximum 10 year loan term

Optional repayment holiday for the first 12 months^^

This support is available to new and existing eligible small to medium business customers and not-for-profit organisations. Further information on support available and eligibility criteria can be found here: SME Recovery Loan Scheme Business Loan | BOQ Specialist

There are a number of ways for customers to apply for BOQ Specialist’s SME Recovery Loan including contacting their dedicated financial specialist, through an accredited Broker Relationship Manager, or by calling 1300 160 160.

 

Media Enquiries

BOQ Group Media Relations

Tel: (07) 3212 3068

Email: mediarelations@boq.com.au   

  • Important Information

       * Subject to credit approval. The issuer and credit provider of these products and services is BOQ Specialist – a division of Bank of Queensland Limited ABN 32 009 656 740 AFSL and Australian credit licence no. 244616 (“BOQ Specialist”). Terms and conditions, fees and charges, and lending and eligibility criteria apply. Any information is of a general nature only. We have not taken into account your objectives, financial situation, or needs when preparing it. Before acting on this information, you should consider if it is appropriate for your situation. You should obtain independent financial, tax and legal advice as appropriate. Your actual interest rate may vary depending on the size of your loan, security being offered and full credit assessment of your application for finance. A margin may also apply. These interest rate offers cannot be taken in conjunction with or in addition to any other packages, negotiated interest rates or special offers.

      ^ Available only for variable commercial property or goodwill loan products. Loan documentation must be returned and held by BOQ Specialist before 5.00pm AEST on 31 December 2021. Loan establishment fee will be waived on eligible transactions, excluding legal and valuation costs. Other fees and charges may apply.  If you meet our ‘lease doc’ criteria the maximum interest only term will be the lesser of ten years or the remaining lease term minus one year. Where the remaining lease term minus one year is five to nine years the maximum IO term will be five years. Not available in conjunction with any other promotions or offers. BOQ Specialist has the right to change or cancel these relief measures at any time without notice. Available information current at 1 October 2021.

      ^^ Repayment holiday of 12 months is where the interest is capitalised over the repayment holiday period. Interest capitalisation is the addition of unpaid interest to the outstanding loan balance. The outstanding loan balance will increase when payments are postponed during periods of deferment and where unpaid interest is capitalised.