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Term Loan
SmartSuite Commercial
The SmartSuite Commercial range of products is a simple, streamlined approach to commercial
lending. SmartSuite Commercial offers the flexibility of three different income verification methods:
Full Doc, Lo Doc and Simple Doc.
It is a fully featured commercial term loan, able to be secured by either commercial or residential
property. SmartSuite Commercial offers up to a 75% LVR, a maximum loan term of 25 years, and
interest only periods of up to 5 years.
Product Overview
Loan purpose
SmartSuite Commercial is available to companies, trusts and individuals borrowing from
$150,000 up to $3 million to:
 purchase a commercial property (for investment or owner use). Simple Doc
available for investment only
 refinance an existing commercial loan
 release equity for business or investment purposes
Note: Residential property is also acceptable as security for commercial finance.
Maximum loan amount and
loan valuation ratio
Full Doc - $3 million (≤70% LVR) / $1 million (≤75% LVR)
Lo Doc - $2 million (≤70% LVR) / $1 million (≤75% LVR)
Simple Doc - $1 million (65% max LVR)
Maximum aggregate exposure
$6 million total for this product suite
Repayment terms
Principal and Interest
Interest Only
Maximum interest only period
Full Doc / Lo Doc - maximum 3 years (≤75% LVR) / maximum 5 years (≤70% LVR)
Simple Doc – maximum 5 years
Interest rate
Variable rate or fixed rate terms of 1–5 years available
Loan term
5-25 years terms available
Minimum debt service
coverage ratio
Full Doc / Lo Doc - 1.50x for owner-occupied / for investors
Full recourse loan
Yes
Simple Doc - 1.00x for investors based on rental income from security properties
Adelaide Bank a Division of Bendigo and Adelaide Bank Limited, ABN 11 068 049 178. GPO Box 1048, Adelaide SA 5001. Australian Credit Licence
237879. Information correct and is subject to change. Adelaide Bank lending criteria, fees and charges apply, full details available upon application.
Version Dated 10 June 2015 Page 1 of 4
Other documentation
requirements
Full Doc / Lo Doc - Company/self employed applicants
Descriptor

last 6 months statements for Business Trading Account

last 6 months statements for personal banking account If applicant is PAYG

last 6 months statements for all mortgage debts to be refinanced

last 6 months statements for borrowers loan(s) secured by the primary or personal
residence by the borrower or guarantor
Simple Doc - Last 6 months statements for all mortgage debts being refinanced.
Income verification
Full Doc - PAYG: refer to SmartSuite Commercial income matrix.
Lo Doc - Self Certification of income incorporating solvency declaration where borrower
is a company.
PAYG - refer to SmartSuite Commercial income matrix.
Simple Doc
1. Each applicant to provide a loan repayment declaration (incorporated within the
Application form)
2. A declaration of solvency for company / self employed applicants.
3. Copy of an existing lease, with a term of no less than 12 months remaining from
Formal Approval.
Loan splits
Available
Acceptable security property
Commercial property (including offices), industrial property (including warehouses and
workshops), retail property (including shops) and residential property.
Registered first mortgage only (no second mortgages).
Security property must be multi use i.e. no specialised security.
Maximum of 3 properties for any one loan.
Acceptable security locations
Capital cities and major regional centres. Major regional centres are generally defined
as being population centres of >100,000.
Refer to the ‘SmartSuite Commercial Locations Guide’ for further details.
Credit History
Clear credit check for all applicants – no defaults
Acceptable Applicants
Applications can be received from:
Natural persons - must be a permanent resident or citizen of Australia
Sole Proprietorships and Partnerships: - the loan must be held in the name of the
underlying natural persons or company not held established in the name of the business
Companies (limited by shares): must be an Australian domiciled entity; personal
guarantees are to be taken from Company Directors
Trusts: the name of the trustee borrowers must be in their own right and trustee for the
trust (only accept discretionary, family or unit trusts)
Note: For individual borrowers – purchasing, refinancing or raising equity against
residential property, solely for either owner occupation or residential investment are not
acceptable loan purposes.
Voluntary repayments
Variable Rate: Additional repayments may be made at any time without penalty
Fixed Rate: Maximum of $20,000 per annum (in excess of normal repayments is
permitted, after which break costs may apply)
Adelaide Bank a Division of Bendigo and Adelaide Bank Limited, ABN 11 068 049 178. GPO Box 1048, Adelaide SA 5001. Australian Credit Licence
237879. Information correct and is subject to change. Adelaide Bank lending criteria, fees and charges apply, full details available upon application.
Version Dated 10 June 2015 Page 2 of 4
Repayment Options
Monthly repayments must be made via a direct debit
Descriptor
Monthly repayments (irrespective of any additional repayments) must be made prior to
or on the anniversary date of settlement.
More frequent repayments are permitted (weekly/fortnightly)
Any loans settled on the 28th, 29th, 30th or 31st of the month will have repayments due on
the 28th of the month.
Loan Statements
Bi-annually in December and June
Rate Conversion
Conversion to Fixed Term
Borrowers may apply to convert to a fixed rate at any time. A loan variation fee is
payable. Applications will be made effective from their monthly anniversary date and
must be received a minimum of 14 days before the monthly due date.
At the expiration of the fixed term, borrowers may re-fix the loan immediately at no
charge, or choose to revert to the SmartSuite Commercial benchmark variable rate.
Unacceptable security type

Abattoirs

Laboratories

Retirement Villages

Bed & Breakfast


Roadhouses

Boarding Houses
Land
Banks/Speculative
Vacant Land

Rural Property

Breweries

Marinas

Sawmills

Brick Works

Mills

Schools

Brothels

Nightclubs and Pubs

Service Stations

Caravan Parks

Nursing Homes

Services Apartments

Cemeteries

Places of Worship


Child Care Centres

Speculative
Developments

Clubs
Properties above snow
line

Sporting Centres

Construction Sites


Student Apartments

Contaminated Sites
Properties under 50
square metres

Tanneries

Foundries

Theatres/File Studios


Theme Parks

Time Share

Vineyards/Wineries

Wrecking/Smash
Repairs

Purpose Built
Premises
Funeral Parlours

Quarries

Gasworks

Reception Centres

Hotels/Motels


Ice Works/Cold Stores
Residential Properties
> 10 Ha in Size

Resorts
Adelaide Bank a Division of Bendigo and Adelaide Bank Limited, ABN 11 068 049 178. GPO Box 1048, Adelaide SA 5001. Australian Credit Licence
237879. Information correct and is subject to change. Adelaide Bank lending criteria, fees and charges apply, full details available upon application.
Version Dated 10 June 2015 Page 3 of 4
Payment method
Direct Debit
Application fee
Full Doc/Lo Doc /Simple Doc - 0.5% of the loan amount plus valuation and solicitor costs
Administration fee
$20 monthly
Redraw fees
Available. Free online/ phone banking redraws. Manual redraw requests – $50. Minimum
redraw amount $500
Deferred Establishment fee
1.5% of the contracted loan amount if the loan is discharged within 48 months of
settlement
Other fees
Refer to ‘SmartSuite Commercial Fees and Charges Guide’
Phone/Online Banking
Available
Information is correct and is subject to change. This information is for Broker use only and must not be distributed to customers.
Adelaide Bank a Division of Bendigo and Adelaide Bank Limited ABN 11 068 049 178, Australian Credit Licence 237879. GPO Box 1048, Adelaide SA
5001. Other fees and charges, terms, conditions and lending criteria apply.
Version dated 10 June 2015 Page 4 of 4