This Commissions Guide article relates to Suncorp Commercial (Small Business) loans. Articles related to other Suncorp products can be found here:
Connective will maintain this guide to the best of its ability but cannot guarantee that the information within is complete, and/or in line with the latest guidance and policies of the lender. If you believe anything is missing or inaccurate, please contact us.
Contents:
Commission Rates
Business Banking Facilities (including commercial and agribusiness lending) - Up to $3m
| ex GST | inc GST |
Upfront (% of 'Facility Amount') | 0.5% | 0.55% |
Trail |
| Up to 0.275% |
Term Loans: The Facility Amount (“FA”) is the total amount of the facility that is available to be drawn down by the Customer upon settlement of the Facility. With respect to those Facilities where the Introduction merely relates to an increase to the limit of a pre-existing settled facility, only the amount by which the Facility limit has been increased will qualify for the purpose of calculation of the FA.
Lines of credit (Asset Lines: The Facility Amount (“FA”) is 75% of the total amount of the Facility under calculation that is available to be drawn down by the Customer upon settlement of the Facility. With respect to those Facilities where the Introduction merely relates to an increase to the limit of a pre-existing settled facility, only 75% of the amount by which the Facility limit has been increased will qualify for the purpose of calculation of the FA.
The FA will be calculated after settlement for an Introduction.
Business Banking Facilities (including commercial and agribusiness lending) - > $3m
| ex GST | inc GST |
50% of the collected Facility Establishment Fees | - | 50% |
Trail |
| Up to 0.275% |
Facility Establishment Fees means the fees specified by Suncorp as a fee in relation to establishment or approval of a new Facility Application (excludes any “Establishment fees” pertaining to a temporary facility or “Variation fees” collected for a variation to the existing loan terms and conditions)
Calculated after settlement for an Introduction
Equipment Finance Facilities
| ex GST | inc GST |
Up Front | - | Up to 4% |
Trail | nil | nil |
Up to 4% of the Facility Amount for facilities written at the appropriate Suncorp Broker Carded Rate
Facility Amount means the total amount paid by Suncorp to a supplier or other party to obtain title to the goods the subject of the facility.
Suncorp Broker Carded Rate means the Suncorp minimum interest rate for Equipment Finance Facilities as set out in Suncorp Carded Rate Chart provided to the Introducer and its employees from time to time.
Trade Finance Facilities
| ex GST | inc GST |
50% of the collected Facility Establishment Fees | - | 50% |
Trail | nil | nil |
Facility Establishment Fee means the fees specified by Suncorp as a fee in relation to establishment or approval of a new Facility Application (excludes any Establishment Fees pertaining to a temporary facility or “Variation fees” collected for a variation to the existing loan terms and conditions).
Calculated after settlement for an Introduction
Trail Commission
Trail is up to 0.275% p.a. of 'Outstanding Facility Balance' (OFB) for Introductions supported by an acceptable application. See below for calculation of OFB.
Commercial Banking Term Loans, Agribusiness Term Loans,Equipment Finance Facilities
The OFB shall be calculated after the end of each month in arrears using an average daily balance of each facility introduced to Suncorp by the Introducer.
The amount payable to the Introducer per month for each facility shall be determined as follows:
Average Daily balance of a facility (for a particular day) x (Trail%/365 days) = Daily Trail Commission for that day. The aggregate of the Daily Trail Commissions of a facility for each day of the month = Sub Total
Commercial Banking Business Overdrafts, Agribusiness Business Overdrafts, Commercial Banking Business Lines of Credit, Agribusiness Business Lines of Credit
The OFB shall be calculated after the end of each month in arrears using the average monthly balance (calculated by adding together every end of day balance for the month and then divide the aggregate by the number of days in the month) of each facility.
The amount payable to the introducer per month for each facility shall be determined as follows:
Average monthly balance for the month X (Trail%/365 days) = Daily Trail Commission.
Daily Trail Commission multiplied by number of days in the month = Sub Total.
The total trailing commission payable per month = aggregate of the Sub Totals for all loans less any money owed to Suncorp by the Introducer in accordance with the Agreement. Money owed to Suncorp by the Introducer may include but is not limited to unpaid valuation fees, facility payout, clawbacks (if applicable) and overpaid commissions.
Note: In the event that default is made in respect of a Facility and the Facility is calculated by Suncorp as being in arrears by more than 30 days, the Loan will not be included in the calculation for the period the Facility is in arrears by more than 30 days. Should the Facility be brought back to less than 30 days in arrears, the Facility will be included in the calculation from the day after the Facility is brought back to less than 30 days in arrears.
Notes & Definitions
Small Business loans include Business Essentials variable rate loan, fixed rate loan, line of credit and secured overdraft. Suncorp may classify products as Introductory or Discounted from time to time at its absolute discretion.
Suncorp reserves the right to reduce the amount of any commission payable for Introductions:
Not supported by an Acceptable Application; and/or
As agreed with the Introducer and subsequently confirmed in writing.
Clawbacks
There are no clawback policies for Suncorp Commercial Loans