Giving SMEs the credit they deserve - 19 August 2005
Friday, 19 August 2005
The problem that many small and medium sized businesses (SMEs) encounter of not having easy access to credit, despite having good security, is being solved by the National Australia Bank (NAB).
NAB today launched 'NAB Business Plus', an innovative and easy to use all-in-one line of credit solution designed specifically for small to medium sized businesses.
Designed to save business owners and managers time and money, NAB Business Plus is a new business lending solution with competitive rates that gives customers more control and flexibility than ever before as to how they manage their credit.
The line of credit is linked to a cheque account and can also be linked to on-line and phone banking.
Bruce Munro, NAB's Executive General Manager of Business Products and Services, said: "Customers have been asking us for a line of credit product that was competitively priced and easier to use than what was offered by other institutions. We listened and have responded.
"It incorporates transaction, short term working capital and longer term debt into one credit solution. The minimum loan amount is $100,000. Loans are secured by residential property, commercial property or term deposit," Mr Munro said.
George Frazis, Executive General Manager of NAB Business and Private Banking, said: "NAB Business Plus gives customers the control to use credit as and when they need it for as long as they need it.
"As the leading business bank, we will continue to come out with products that make our customers lives easier and help them to do business better," Mr Frazis said.
Customers can call 13 22 65 or click herefor further information.
About NAB Business Products and Services
The National Australia Bank's Business Products and Services brings together a unique combination of business product capabilities. It distributes its products through the NAB's Business and Private Bank as well as through specialist sales forces. It turns over in excess of $3 billion a year, employs over 1500 people and includes the business streams of Custodian Services, Asset Finance, Business Lending, Cash Management and e-Business, Fleet Services, Working Capital Finance and Trade, Merchant Services.
About NAB Business and Private Banking
The National Australia Bank employs over 3,400 business banking specialists and 450 financial planners and specialists at over 170 business banking centres Australia wide. It is one of the market leaders in providing business banking services to Australian business. The National provides a number of 'Business Information Guides' that are available on its website www.nab.com.au. For further information visit http://www.nabgroup.com/0,,63056,00.html.
For further media information contact:
John Fergusson
B&PS Corporate Affairs
National Australia Bank
Tel. 03 8634 3845
Mob. 0407 826 952
* The information contained in this media release is for media advice purposes only. The contents are true and correct at time of publishing/issuing, however may change over time. For further information about NAB products or rates, please go to Interest Rates, Fees & Charges
