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What you'll need

    • To be an Administrator or Authoriser to access the Market Rate Loan dashboard
    • Your Market Rate Loan must be linked to your CommBiz service. Read Linking a Market Rate Loan

Request a drawdown

    • New drawdown with today's funding date must be submitted before 3pm (Syd/Melb time)
    • Minimum drawdown amount is $20,000
    • Market Rate Loan drawdown requests can be scheduled up to 30 days in advance
    1. Log on to CommBiz. On the homepage, select the MRL Dashboard icon
    2. Select Create Drawdown request
    3. On the Create New Drawdown Request page, under Loan Details, select an arrangement from the dropdown

      Note: If you've selected an Arrangement with an Available Balance that is less than $20,000, an error message will display and you won't be able to proceed. Select another Arrangement with an Available Balance of more than the minimum to continue or contact your Relationship Manager. 
    4. Complete the mandatory fields (drawdown amount, loan funding date and crediting account)

      Notes: The loan funding date can be set for the same day up to 30 days in advanced and subject to it being a Sydney business day.
      The crediting account is the nominated account that you want the funds to be credited into. Only available nominated accounts will appear. If there's only one, it will display as the default. If there are other accounts available, you can select it from the dropdown.
    5. Scroll to the reset date and repayment details section and make a selection

      Note: The Copy & Modify option is useful if you would like to use all or some of the interest and repayment details from an existing Market Rate Loan Account. This saves you from having to fill out details for your New Drawdown account.
    6. Once you've completed the reset date and repayment details, select Review & Submit
    7. On the Review drawdown request details pop-up, close it or select Cancel to modify the details, or select Authenticate & Submit
    8. In the Step-up authentication section, enter your log on details, then Submit.

Request a balance increase

    • Requests for Market Rate Loan balance increase can only be processed on the reset date of the selected account
    • If the Market Rate Loan reset date is today, the Balance Increase request must be submitted before 3pm (Syd/Melb time)
    • There is a minimum balance increase amount of $20,000
    • Market Rate Loan balance increase requests can be scheduled up to 30 days in advance.
    1. Log on to CommBiz. On the homepage, select the MRL Dashboard icon
    2. Select Balance Increase / Decrease from the top menu, or beside the relevant account
    3. On the Create Balance Increase / Decrease request page, select an existing arrangement
    4. Select the relevant loan account

      Note: The available balance is the difference between the arrangement limit and the combined loan balances for loan accounts under the arrangement. 
    5. Select Increase loan amount

      Note: If you select an IRRM account, you won't be able to proceed. Contact your Relationship Manager or select another account.
    6. Enter the increase amount you'd like to add to your loan balance.
    7. Select a crediting account

      Note: This is the Nominated Account that you want the funds to be credited into. Only available accounts will appear. If there's only one, it will display as the default account. If there are other accounts available, you can select them from the dropdown.
    8. Select the tickbox to acknowledge the processing date, then select Review & Submit
    9. On the Review increase request details pop-up, close it or select Cancel to modify the details, or select Authenticate & Submit
    10. In the Step-up authentication section, enter your log on details, then Submit.

Request a balance decrease

    • Requests for Market Rate Loan balance decrease can only be processed on the reset date of the selected account
    • If the Market Rate Loan reset date is today, the balance decrease request must be submitted before 3pm (Syd-Melb time)
    • Balance decrease for loan accounts with a loan balance of less than $20,000 will have the decrease amount defaulted to the remaining loan balance (and can't be changed on CommBiz)
    • Market Rate Loan balance decrease requests can be scheduled up to 30 days in advance
    1. Log on to CommBiz. On the homepage, select the MRL Dashboard icon
    2. Select Balance Increase / Decrease from the top menu, or beside the relevant account
    3. On the Create Balance Increase / Decrease request page, select an existing arrangement
    4. Select the relevant loan account

      Note: The available balance is the difference between the arrangement limit and the combined loan balances for loan accounts under the arrangement. 
    5. Select Decrease loan amount

      Note: If you select an IRRM account, you won't be able to proceed. Contact your Relationship Manager or select another account.
    6. Enter the decrease amount you'll like to reduce the loan balance by
    7. If you'd like to reduce the arrangement limit by the decrease amount, select Yes. Otherwise, select No
    8. Select a debiting account

      Note: This is the nominated account you want the funds to be taken from. Only available accounts will appear. If there's only one, it will display as the default account. If there are other accounts available, you can select them from the dropdown.
    9. Select the tickbox to acknowledge the processing date, then select Review & Submit
    10. On the Review decrease request details pop-up, close it or select Cancel to modify the details, or select Authenticate & Submit
    11. In the Step-up authentication section, enter your log on details, then Submit.

Consolidate a Market Rate Loan

    • Requests for Market Rate Loan consolidation can only be processed on the reset date of the selected loan accounts
    • If the Market Rate Loan reset date is today, the consolidation request must be submitted before 3pm (Syd/Melb time)
    • If you chose to consolidate and increase your loan balance within the same request, there's a minimum balance increase amount of $20,000
    • Market Rate Loan consolidation requests can be scheduled up to 30 days in advance
    1. Log on to CommBiz. On the homepage, select the MRL Dashboard icon
    2. Select Create Consolidation request beside a specific arrangement or select Consolidation from the top menu
    3. On the Create consolidation request page, select an existing arrangement
    4. Select the loan accounts you'd like to consolidate by selecting the checkbox beside each

      Note: Once the first loan account is selected, only accounts with the same reset date will be available for selection.
    5. When at least 2 loan accounts have been selected, the Request for Increase / Decrease panel will display. Make your selection from the following:

      • No thanks, just consolidate my Loan Accounts - consolidate your selected loan account(s) and keep the sum of the loan balance displayed as is
      • Yes, consolidate and Increase my Loan Balance - consolidate your selected loan account(s) and nominate an amount to increase the total loan balance by
      • Yes, consolidate and Decrease my Loan Balance - consolidate your selected loan account(s) and nominate an amount to reduce the total loan balance by 
    6. Depending on your selection, complete the mandatory fields
    7. Select the tickbox to acknowledge the processing date, then select Review & Submit.

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Things you should know

  • This guide is published solely for information purposes. As this guide has been prepared without considering  your objectives, financial situation or needs, you should consider its appropriateness to your circumstances and if necessary seek the appropriate professional advice before acting on the information in this guide. Where this guide is inconsistent with the Current Terms and Conditions for Business Finance or the CommBiz Terms and Conditions, the Current Terms and Conditions for Business Finance and the CommBiz Terms and Conditions prevail to the extent of such inconsistency.