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NAB provides 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. Recipients get access to business skills training and advice during the first year of their business.
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- Size: $500- $20,000
- Interest rate: 5.99% p.a (fixed)
- Up to 3 years repayment period
- 90 day access period is interest free
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Loan types
(includes how to apply information)
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- Enterprise Boost - supporting existing businesses that have been involved with Business Enterprise Centres around Australia.
- Young Entrepreneurs - support for people aged 18 - 30 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.
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