Key Product Features
Borrowing Amount
A EF Global Group Secured SME Business Loan is designed to support local business and that’s why we offer a borrowing range of PGK100,000 all the way through to PGK500,000. Our goal is to make it easier for you to plan for your growth.
Loan Terms
While other banks lock you into extended terms that make it hard for you to plan, that’s not the way we operate. We prefer to focus on offering you the flexibility of time with loans that range from 1-year to 15-year terms.
Interest Rate
We offer the lowest rate in PNG. At only 4%,our business rates are designed to grow your business, not slow it down.
Payment Period
Managing your cashflow is critical to any business. That’s why our repayments are set up to be made monthly. It gives you the freedom to plan and manage your cashflow in a way that suits you, not us.
What About Other Fees?
Good question. There are some fees associated with our business lending. But we’ve worked hard to remove upfront application fees, documentation fees and much more!
Frequently Asked Questions
What is a EF Global Group Secured SME Loan?
A secured business loan is a type of loan that uses an asset or funds belonging to your business as security. This may mean using your EF Global Group Cash Management Account as security or even using a property as security.
What items can I purchase with a EF Global Group Secured SME Loan?
Our EF Global Group Secured SME Loan is designed to help grow your business. We can fund purchases for new cars, equipment, property and even refinancing – plus much more.
How do I apply for a EF Global Group Secured SME Loan?
What are forms of primary ID?
When applying for a new account you will need to have 2 forms of primary ID. We classify primary ID as:
- Passport (foreign passport must include a copy of your entry permit)
- Driver’s licence
- Employment ID card with employment confirmation letter
- Current student ID and confirmation letter from your tertiary provider
- Superannuation membership card
- PNG work permit with Labour & Industrial Relations letter
- PNG Government issued photographic Licence and or Permit
- National Identity card issued by NID office
*All forms of ID must be valid. Any expired ID won’t meet the ID requirements and as such we won’t be able to accept the ID. If you don’t have 2 forms of primary ID please call us on +1 508 723 5182 or 180 1525.
What are the features of the EF Global Group Secured SME Loan?
- 4% fixed loan rate
- No application fee
- Flexible loan terms from 1 year to 15 years.
What are the fees and charges attached to the EF Global Group Secured SME Loan?
We’ve worked hard to remove a number of the fees that you’d usually expect from a business loan. All of our fees and charges can be found in the EFGlobalGroup Bank Fees Schedule.
If I am an existing EFGlobalGroup Bank customer, am I eligible to apply for a EF Global Group Secured SME Loan?
Yes. You will be subject to the normal application process and security requirements. But as an existing EFGlobalGroup Bank customer, your current accounts and loans can be used to review your eligibility.
What is the minimum company turnover required to apply for the EF Global Group Secured SME Loan?
To apply for a EF Global Group Secured SME Loan, you need to have a minimum company turnover of PGK5,000,000.
Can I refinance my current business loan across to the EF Global Group Secured SME Loan?
Yes, if you have a business loan with another bank or financial services institution speak to one of our Business Advisors today. They will help to secure your new concessional loan rate.
Important Information
Still have questions?
Call Toll Free on 180 1525 or +1 508 723 5182
Or email us on info@efglobalgroup.com
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