NAB Microenterprise Loan Program

You are here: Home

Services

If you have a sound business idea yet are unable to get a normal business loan through a bank, you may be eligible for the NAB Microenterpise Loan! Loans are available to assist start up or existing businesses within the first 2 years of trading.

Experience...

National Australia Bank Microenterprise Loan

Financial support and mentoring. Big on ideas and low on funds? The NAB Loan could be the answer.

About the Loan

The loans are provided on a not-for-profit basis and are part of the National Australia Bank’s Microfinance commitment to ensuring that all Australians have access to fair and affordable banking services.

What are the key features of the NAB Microenterprise Loan?

If you are unable to get a normal business loan through a bank and you have a sound business idea, you may be eligible for a NAB Microenterprise Loan. NAB Microenterprise Loans are unsecured business loans between $500 and $20,000. Loans are available to help start up or support existing businesses of five or fewer employees. This includes owner-operated businesses and businesses operated from home.

Loans from $500 to $20,000
Interest rate—5.99% p.a (fixed)
Up to 3 years repayment period
90 day interest free access period

Factors to consider

Does your business require finance? The need for finance is often linked to how a business manages its cash flow. The first step should be to consider whether there may be other avenues to grow your business other than by borrowing . You should also consider what your repayments will look like and how this will be factored into the current cash flows of the business. If you believe your business will benefit from the additional finance, its time you consider your eligibility.

Are you eligible for a Microenterprise loan?

To be considered for a NAB Microenterprise you must:

Have worked with The Business Centre who specialise in small business management, business skills and business plan development
Be seeking a business loan of between $500 and $20,000 and not be eligible for a mainstream business loan
Be 18 years and over
Be an Australian Citizen or Permanent Australian Resident
Not have been bankrupt in the last 7 years and have no overdue or outstanding unpaid debts
Provide your business plan and financials

What do you need to have to apply?

Current and solid business plan (with an executive summary) and financials
Letter of support from The Business Centre
A completed NAB Microenterprise Loan application form

What is the process from here?

Contact The Business Centre and book in an appointment with a Business Advisor. You will work with our team ensure your business plan and financials are up to date and that you meet all of the eligibility requirements. The Business Centre will then provide you with a letter of support for the application and forward it to NAB with the documents required. You will be contacted by a NAB Business Manager who will arrange an interview to:

Assess the strength of your business plan and financial projections
Ask you some tough questions about your business
Confirm that you are able to take on the repayment needs of the loan
Forward your application to a NAB Credit Manager for the final decision

NAB Microenterprise Loan - a financial solution to getting your business started.

Download a Brochure, Application Form and Business Plan Requirements information to assist you with the process.

Testimonials

"I'm so very grateful for the Mentoring I received from Brooke through the NEIS program!" -- Roz Ewart

"I love working with Brooke, I always leave the mentoring appointments feeling energised and ready for business" -- Antonia Gore

"The NEIS program – training and mentoring – really helped me with by confidence in business" -- Mandy-Lee Cluff

"Mentoring through The Business Centre helped me set realistic targets and strategies to grow my business" -- Peter Brown

"Mikes mentoring has guided our business from imminent collapse to a position of renewed survival with stronger market share and increased profitability" -- Lesley Lalor

"The service was beyond expectations, professional and informative." -- Ray Bylart – Connect

"Without the continuous assistance I would never of been able to start and grow my business." -- Alida de Laubadere –

"Not only did I learn a great deal I also was very engaged and entertained by the Advisers professional and experienced style of training." -- Phil Byrnes - Exce

"I learned so much in the one on one Advisory sessions and this was backed up with the availability of workshops and networking opportunities." -- Block Sign – Fonehub