NAB Microenterprise Loans are unsecured business loans of between $500 and $20,000 for people on low incomes who have few or no avenues to access affordable business credit.
The loans are provided on a not-for-profit basis and are available to help start up or support an existing business of five or fewer employees. Liability for the loan sits with the applicant, not the business.
NAB also ensures loan recipients get access to business skills training and advice during the first year of their business.
Money magazine's Best of the Best Awards 2008 judged Microenterprise Loans to be the best socially responsible product in the small business loans category. Read more.
In October 2008, NAB announced a further $100 million to support micro-businesses in Australia. Read more.
Read more about some of the businesses NAB has helped.
| Features |
- Size: $500- $20,000
- Interest rate: 9.95% p.a (fixed)
- Up to 3 years repayment period
- 90 day access period is interest free
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Five ways to get a NAB Microenterprise Loan
(includes how to apply information) |
- Enterprise Start - supporting existing businesses that have been involved with Business Enterprise Centres around Australia.
- Young Entrepreneurs - support for people aged 18 - 29 years wishing to start a new enterprise.
- Enterprise Plus - supporting existing businesses that have been involved with the New Enterprise Incentive Scheme (NEIS).
- Indigenous Entrepreneurs – support for existing and new businesses via Indigenous Business Australia (IBA).
- Incubator Connect - supporting businesses who are currently tenanted or supported by small business incubators.
All have specific eligibility criteria. |
If you are eligible to obtain a normal business loan, you will not be eligible for a NAB Microenterprise Loan.
