Microenterprise Loans report

NAB's Microenterprise Loans program - one year down the track report has just been released.

A NAB Microenterprise Loan provides a not-for-profit business loan of between $500 and $20,000 to people on low incomes, with few or no avenues to access affordable business credit.

To date 73 businesses now have access to a business loan with an average loan of $15,000. The business types include Automotive Repairs, Hair Salon, Dog Massage/Training, Florist, Computer Maintenance, Landscape Design to name a few.

NAB has been fortunate to engage support partners to help deliver the Microenterprise Loan Program. These include Business Enterprise Centres Australia, National NEIS Association, Enterprise Network of Young Australians and Business Innovation & Incubation Australia.

This report looks at the development of the program, the importance of our support partners in delivering the program and where to from here. It also reinforces our belief in the importance of a microenterprise loan program for individuals with few or no avenues to access affordable credit.