Good for B Business Loan
- Upfront Fee
- $0 application fee
- Max. Loan Amount
- $250,000
- Loan Term
- 3 months to 2 years
Summary
Fund your business's sustainability initiatives with a Good for B business loan.
Good for B's business loan is a low-fee variable rate loan that's designed for businesses that will use the funds to pay for green projects or to hit sustainability goals or targets.
Good for B's loans have variable interest rates that offer flexible repayment options and fee-free early repayments. And for every $10 of loans Good for B funds, it will remove 1 gram of plastic waste from the ocean.
Details
Product details
| Product Name | Good For B Business Loan |
| Min. Loan Amount | $10,000 |
| Max. Loan Amount | $250,000 |
| Loan Security | Secured |
| Upfront Fee | $0 application fee |
| Loan Term | 3 months to 2 years |
How does a Good for B business loan work
Good for B offers variable rate business loans of up to $250,000 for businesses investing in green projects, sustainability initiatives or social enterprises.
Businesses can get lower rates for hitting their sustainability targets.
What features does a Good for B business loan have?
- Variable interest rate ranging from 10% to 18% p.a.
- The loan must be used for a sustainability goal or to finance a green project or initiative.
- You can borrow between $10,000 and $250,000 with a Good for B business loan.
- Loan terms range from 3 months to 24 months.
- Flexible repayment options. You can make weekly, fortnightly or monthly repayments. You also have the option to make interest-only repayments.
- There are no penalties for repaying the loan early.
What kind of green projects or business assets can this loan finance?
You can use a Good for B business loan to finance:
- Green construction
- Clean transport
- Climate change adaptation
- Pollution prevention and control
- More environmentally friendly processes and technology
And for every $10 of loans Good for B funds, it will remove 1 gram of plastic waste from the ocean.
Who is eligible for a Good for B business loan?
To qualify for a Good for B loan your business needs to meet these criteria:
- The business must have been operating for at least 6 months and have an ABN.
- You need to be doing a minimum of $5,000 a month in sales.
- You need to use the loan funds for a green project or asset, or to finance a sustainability goal or objective.
Sustainability criteria
Good for B will assess your green project or sustainability goal when you apply for the loan.
How much does the loan cost?
- The loan's interest rate is between 10% and 18% p.a.
- There is no application fee.
- There is a 2% sustainability certification fee, payable when you receive the funds.
How do I apply?
You can apply for a Good for B business loan via the lender's website. You can complete an application in around 10 minutes.
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