Westpac Business Loans

Westpac Business Term Loans offer easy application and repayment structures to suit borrowers’ needs — be it for starting a new venture, adding funds to an existing business, or covering business expenses, among others.

If you’re interested in applying for a business loan with Westpac NZ or any lending provider in the country, compare and find the right plan for using the glimp comparison tool for FREE.

Business Loan Calculator

Why choose Westpac Business Loans?

Westpac is known for its established and trustworthy services, not only in New Zealand but also in Australia. Obtaining a home, personal or business loan is simple and hassle-free, especially for existing account holders.

Flexible repayment options

There are two types of business term rates with Westpac - floating and fixed rate where they get to choose three repayment options.

Table loan - choose to spread repayments evenly over the term of the loan to avoid late repayments.
Reducing loan - request to reduce repayments over the loan in case of insufficient funds.
Interest only - pay off the interest first until the interest-only period expires.

Apply for general business

For those looking for a loan solely for business or investment purposes, Westpac Business Loans provide a simple online application process offering loan amounts ranging from $50,000 to $1,000,000, provided that the applicant is registered with the Companies Office and is working as a lone trader or director on behalf of the business.

Apply for agribusiness

Westpac offers agribusiness managers for borrowers who are in the dairy, sheep and beef, arable, horticulture and other agribusiness sectors in NZ.

This intends to give entrepreneurs in this field to navigate their finances and find which type of business loan could work best for them.

Westpac Business Loans - Interest Rates & Terms

Floating Rate

Choosing a floating rate allows entrepreneurs more leeway in repaying their loan as the market changes. If interest rates fall, they can use the remaining funds to make an extra payment, which is not subject to a penalty under a floating rate plan with minimum prepayment amounts of $10,000.

Fixed Rate

Selecting a fixed rate provides borrowers with certainty, which allows them to budget because knowing the exact payment amount simplifies financial planning. This can work for well-established businesses that can make on-time payments for up to 12 months.

Bruce Thornley , 2024-12-10

Jordan was patient, pleasant and took the time to answer all of my questions. She made sure that I understood all the steps and was clear and concise in her replies. Jordan first verified that I was the person paying the bills and ascertained that my husband had already expressed a change to Pulse but wanted to speak with me first. As we are both older, we appreciate that Jordan had taken the time to ensure that we understood the importance of a smart meter as there are two dwellings on this meter.

Selena Hoani , 2024-10-16

Filomena had amazing customer service! She was very polite and respectful. She also was great at listening to my needs and offering solutions with options that had great savings. I would give her 10 stars if that was an option. If I decide to go ahead I would choose to go have her help me again. I have not had the best experience in the past with customer service reps so I would like to thank her for making this experience a good one. Kind Regards, Selena

bree Bree , 2024-10-25

Was an amazing ecperience to finally take a leap for change with the best offer. Excellent customer service provided and the most amazing help in detail and understanding. Very grateful for the persistence and patience. Thank you kindly

Shelley Bruce , 2024-10-14

Thanks for the call and check in. You recommended I stay with my current provider as the rates were top notch. I'll touch base again in the next 12-18 months, you made it super easy. Great friendly and confident salesperson.

Victor Mokaraka , 2024-11-01

Philomena was efficient, patient and helpful. She had good data at hand to provide me with comparisons between what was offered and my current costs. She did a good job