ASB business loans: term loans, rates and repayments

Is an ASB business loan right for your business?

An ASB term loan works well if your business knows how much it needs and for how long, such as for equipment, new premises or an investment. You'll need the accounts and security a bank asks for. ASB says you may be able to use your house as security if you have enough equity and a business plan. It doesn't publish its other criteria, so you'll need to talk to it to find out if your business qualifies. Once your loan is approved and signed, you have 60 days to draw the money.

What ASB lends

• Business term loan

  Amount

  Set by what your business can repay

  Term

  6 months to 25 years; interest-only for up to 5 years

  Who qualifies

  Not published; ASB looks at your ability to repay

  Security

  Depends on the loan; you may be able to use your house if you have enough equity and a business plan

  Speed

  Not published; once approved and signed, you have 60 days to draw the money

  Cost

  A business base rate plus a margin, fixed or variable; an establishment fee of up to 1% of the limit (minimum $25); break costs on fixed loans

Ways to repay

A table loan is the most common. Each payment covers interest and part of the loan, and the interest part gets smaller over time. With a reducing loan, you pay off the same amount of the loan each time, so your payments go down. Interest-only payments cover just the interest for a set period, up to 5 years within a longer term, if you meet ASB's criteria.

ASB business loan rates

ASB sets business loan rates as its business base rate plus a margin for your business, so the base rate on its rates page isn't the rate you'll pay. A fixed rate keeps your payments the same during the fixed term, but paying early or changing the rate can mean an early repayment adjustment. With a variable rate, you can make extra payments at any time at no cost. The establishment fee is up to 1% of the loan, with a minimum of $25. Use the business loan calculator to see repayments at different rates before you talk to ASB.

How ASB compares

You can apply online with ANZ and BNZ. ANZ's goBiz goes up to $500,000 if your business has traded for more than 2 years, and BNZ's QuickBiz goes up to $100,000 if you have 12 months of accounts. Westpac publishes a minimum loan of $3,000 and an establishment fee of up to 1%.

These details come from ASB's website, checked on 6 November 2026.

Common questions