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CBA offers a zero interest business loan for Christmas

In a bid to give small businesses across Australia a much needed Christmas boost, Commonwealth Bank is offering a zero interest business loan and just one simple fee² paid over the life of the loan.

The Business Boost Loan* can provide small businesses with fast access to cash as well as peace of mind, with certainty around repayments and an upfront three month repayment holiday to provide extra support in the lead up to Christmas.   

The two-year unsecured loan is available to eligible existing CBA customers via the bank’s self-service and innovative digital lending platform, BizExpress Online. Customers can complete the application online, receive a real-time credit decision and fast access to funds. A one-off simple fee² is added to the total loan amount and repaid over the life of the loan.

CBA Group Executive Business Banking, Mike Vacy-Lyle, said eligible business customers may be able to borrow up to $100,000 through the new loan offering.

“Business want simplicity and certainty during what has been a very challenging period. We’ve worked to deliver a unique offering that will provide just that, with no hidden costs, no variable rates, and in fact, no interest rate at all,” Mr Vacy Lyle said.

“We’re giving businesses fast access to cash to help boost their reopening plans. The various restrictions associated with COVID-19 meant many small businesses struggled to generate much revenue over the past few months, and these businesses now need to be able to re-stock and re-hire. Meanwhile, other businesses are looking at expanding or capitalising on pent up customer demand.

“One example of how this meets customer needs, is the gym owner who accessed our zero interest loan to help them manage a quieter holiday period while preparing for a busier New Year. They told us they had previously been hesitant to take out a loan with a variable interest rate, but felt reassured with the Business Boost loan as they know exactly what they need to pay over the loan period and don’t need to make their first repayment until March 2022 when business will be more consistent.”

As part of the SME Recovery Loan Scheme, the Business Boost Loan is designed to support business customers who have been adversely economically affected by the pandemic and who want to borrow a set amount over a two year loan term.

More than 21,000 Australian businesses have received more than $2.2 billion in funding support made available through the Commonwealth Bank’s Government-backed SME Guarantee Loan Scheme to help them manage the impacts of the pandemic and as the economy reopens to support business resurgence.

Eligible existing customers can now apply for a Business Boost Loan via BizExpress in Netbank or the CommBank app. For more information visit

*This information is current as at date of publication and is prepared without taking into account your individual and/or business needs and objectives.

  1. These products are only available to approved business customers and for business purposes only. Customers need to meet eligibility criteria of the Government SME Recovery Scheme: small to medium sized businesses with up to $250 million turnover, those self-employed, and not-for-profits and have an ABN. This offer cannot be used to purchase residential property or financial products, or to provide loans to associated entities. Applications for finance are subject to the Bank’s eligibility and suitability criteria and normal credit approval processes. You can view the Business Lending Terms and Conditions our Financial Services Guide and the Electronic Banking Terms and Conditions and should consider them before making any decision about these products and services.  (The Business Boost Loan refers to the Better Business Loan in the Business Finance Terms and Conditions.) Full Terms and Conditions are included in the Loan Offer. Bank fees and charges may apply. Applications available to 22 December 2021.
  2. No interest is payable for the life of the loan. Instead, you’ll be charged a $200 fee for every $5,000 you borrow. The Establishment Fee is financed through your loan account and is non-refundable (whether you use your Limit or not). The Establishment Fee is capitalised and added to the principal of your loan and will be paid by instalments as part of the principal from when your account is setup. If you (or, if you default, we) terminate the loan before the end of the Term and the principal (including the remaining Establishment Fee) becomes payable, no part of the Establishment Fee will be refunded.
  3. A lending decision within 24 hours is subject to the Bank's eligibility and suitability criteria.

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