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.
Financial support and mentoring. Big on ideas and low on funds? The NAB Loan could be the answer.
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.
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
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
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
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:
NAB Microenterprise Loan - a financial solution to getting your business started.