To support businesses in need of a quick cash flow injection to stay open and keep people in jobs, NAB has announced a new Business Support Loan.
The Business Support Loan will enable eligible businesses to apply for a loan of up to $250,000 at 4.5% p.a. from NAB with no repayments required in the first six months. To be eligible, businesses must have an annual turnover of less than $50 million.
- Open to new and existing NAB Business customers – new applications only
- Loans must be for business purposes
- Loan term up to three years
- Principal and interest repayments will apply only after an initial six-month repayment holiday
- No application or loan services fees will apply
- Loans will be available up until 30 September 2020
- No broker commissions will be payable on the NAB Business Support Loan
How to apply
Existing NAB Business customers can enquire online or speak directly with their NAB Business Banker.
New NAB Business customers should call 13 10 12.
If you have any questions, please contact your NAB Commercial Broker BDM. Or if you would like assistance, contact Pherrus Financial Services.
Terms and Conditions, and Fees and Charges apply to all NAB products and are available on application. NAB lending criteria applies. National Australia Bank Limited ABN 12 004 044 937 AFSL and Australian Credit Licence 230686.