COVID-19 support for NAB SME customers – new low-rate loan up to $250,000

Published on March 31, 2020

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.

Important information

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

Visit the NAB website for more information.

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.

Loans,

SME, Business Loan, Loan, Low Rate, NAB,

The Insights published on our website have been written by our professional staff strictly for educational purposes. Please note that the information and views expressed above do not constitute professional advice and are general in nature only.

Other Insights from Pherrus

STP Phase 2 Employer Guide: A Simple Explanation

STP Phase 2 has been in place for a while now, but are you fully across what it means for your business? Many employers have transitioned, but some are still catching up or are unsure if they’re meeting all the reporting obligations. While this phase of Single Touch Payroll (STP) will make your life easier…
Bank Valuations: What’s the Deal?

Have you finally found the house you’ve been dreaming of? Or are you selling your home to move on to the next adventure, whether that’s downsizing, upsizing, or relocating? Before the bank hands over a loan to help you buy a place or help a buyer buy yours, they’ll want to know one thing—what’s the…
What Is a Settlement Date?

You’ve found your dream home; now you’re eagerly waiting for the big day—settlement day! What is a settlement date? It’s the agreed-upon day when you pay the property’s purchase price in full, ownership transfers, the seller hands over the keys, and your homeownership journey truly begins. How Is the Settlement Date Decided? During the contract…