Non-major lender Adelaide Bank has increased the maximum loan size on selected commercial loan products.
The maximum loan size on its SmartSuite Commercial product has been increased by $2 million to $5 million for full-doc loans, while the maximum size for low-doc and simple-doc loans has been increased by $1 million, to $3 million and $2 million respectively.
These changes are available on all submission received today, Monday 4 July 2016.
“These changes support our commitment to providing brokers with great value and flexible commercial lending products,” Adelaide Bank national manager of broker sales and distribution, Fons Caminiti said.
“The increased maximum loan sizes mean that brokers can offer customers in metropolitan areas a simple commercial loan on an increased selection of properties.”