Indigenous Business Australia (IBA)
Indigenous Business Australia's (IBA) is a lender that aims to assist Aboriginal and Torres Strait Islander people across Australia. They provide free workshops about home ownership as well as access to loans and financial services.
What assistance is available?
IBA offers home loan products to enable customers to buy:
- established or residential property
- land only
- land and building loans
- housing-related upgrades (renovations or repairs).
IBA requires smaller minimum deposits than mainstream lenders. How much you are required to pay as a deposit depends on your gross annual income. You can find out what deposit you would need to pay via IBA’s website.
Additionally, IBA customers pay a concessional interest rate. See how IBA's interest rate structure works via IBA’s website.
IBA does not charge loan application fees for new home loans, nor does it require Lenders Mortgage Insurance (LMI).
Am I eligible?
To understand whether you are eligible for an IBA loan, IBA requires that you attend an online or in-person free home ownership workshop before applying for a loan.
To see available workshop dates, head to IBA's website.
How can I apply?
To apply for an IBA loan you must submit an Expression of Interest (EOI) through IBA's website. You will be required to provide supporting documentation.
If you have any questions or want to talk with an IBA staff about their home loan process, you can call IBA on 1800 107 107 or submit an inquiry online.
We acknowledge the Traditional Custodians of the lands on which we work and live. We pay our respects to Aboriginal and Torres Strait Islander cultures; and to Elders both past, present and emerging. It always was and always will be Aboriginal Land.