IF IT'S FINANCIAL BACKING YOU NEED, WE'RE HERE TO HELP
Whether it's a fast, easy loan under $100K or a bespoke, tailored solution to work with your cash flow, our lending options could suit your needs.
* Introductory interest rate
Offer commenced on 4 February 2019. The special introductory interest rate of 0% p.a. on purchases applies for 12 months from the date your account is opened by NAB. At the end of the 12 months, any purchase amounts owing will attract the interest rate for purchases that is then applicable to your account, which is equal to the NAB Low Rate Business Card rate advertised on nab.com.au and is subject to change. Minimum monthly repayments must be made by the due date each month.
** Annual card fee waiver
Each Card issued under the Facility has an annual card fee of $60, payable in advance. However, the annual card fee will be waived for the first 12 months from the date the Facility was opened.
The first annual card fee will be payable and debited to the Account:
• for any Card issued and Used before the first anniversary of the date the Facility was opened – in the first Statement Period following that first anniversary; and
• for any Card which is first Used after the first anniversary of the date the Facility was opened – in the first Statement Period following the first Use of the Card. The fee will be a pro-rata amount based on the number of statement periods (whole or part) remaining from the date of first Use until the next anniversary of the Facility being opened.
We will confirm the date the Facility was opened with you in writing.
The subsequent annual card fees for each Card issued and used under the Facility will be debited annually on the statement date immediately after each anniversary of the date the facility was opened.
^ Interest free days on everyday business purchases
If you pay your closing balance on your monthly statement in full by the due date each month. Excludes cash advances (including bills paid over the counter at a bank, financial institution or post office, purchases of travellers’ cheques and transactions for gambling or gaming-related purposes).
The NAB Low Rate Business Card is for business purposes only. Offer only available to new, approved NAB Low Rate Business Card customers who apply on or before the offer is withdrawn. A valid ABN is required to open a Commercial Card facility with NAB. ABN registration checks will be performed once the application has been received. Offer not available when closing/transferring from another NAB credit card account or in conjunction with any other NAB offer. Terms, conditions, fees, charges and lending criteria apply. Please refer to the NAB Commercial Cards Facility Conditions (PDF, 417KB) for the terms and conditions about your NAB Low Rate Business Card.
All NAB QuickBiz finance options are subject to credit assessment and approval
For the NAB QuickBiz Loan and NAB QuickBiz Overdraft, funds will be provided upon receipt of signed contracts. For the NAB Low Rate Business Card, cards will be posted once unconditional approval is provided and should arrive by post approximately 3 business days later. Business days are Monday to Friday, excluding weekends and VIC public holidays.
Fast online application and funding subject to credit assessment and verifications.
This loan is only available for loans which are wholly or predominantly for business purposes. This loan cannot be used to make payments to the Australian Tax Office.
Your business must have been in operation for at least 12 months and have a valid Australian Business Number (ABN).
You need to be at least 18 years or older to apply and hold an Australian citizenship or permanent residency.
Your business and residential address must be in Australia.
This loan is only available for sole traders, business partnerships with 2 or less individual partners, companies with 5 or less directors borrowing in their own right or an eligible discretionary trust. It is not available for joint borrowers who are not partnerships, or partnerships where one or more partner is a company.
Eligible trusts include the following:
- your trust must be a non-government discretionary trust
- your trust has a valid Australian Business Number (ABN) and has been registered for at least 12 months.
- your trust must have been established in Australia
- the beneficiaries of your trust are individuals
- your trustees can only be one of:
- a company with no more than five directors
- up to two individuals
- if the trustee is a company shares in the company must be beneficially held.
Any shareholders of companies listed in the application must be individuals, and not companies.
If you are an existing NAB Customer, you must have operated all accounts in accordance with the terms of those accounts.
Your business must be registered for GST and have a turnover of at least $75,000 p.a
If you have existing NAB Business Lending, you can apply online for an additional NAB QuickBiz Loan, NAB QuickBiz Overdraft, NAB Business Credit Card or NAB Equipment Finance Loan 50 days after your most recent establishment date.
If you are an existing NAB Customer, you can only apply for this product if you have less than $1m in existing business lending with NAB and less than $75k in unsecured business lending with NAB (inclusive of this application).
NAB may have other options which suit your business better if you do not meet the conditions for this loan. You can contact us on 13 10 12 to discuss.
NAB QuickBiz Loan
The interest rate of 12.95% p.a. applies from drawdown date of your NAB QuickBiz loan until the end of your loan term. Minimum monthly repayments must be made by the due date each month.
Standard product information
This loan is available only as a fixed interest rate principal and interest loan for a 12, 24 or 36 month term with monthly repayments. Variable rate loan and interest only loans are not available. Economic costs may be payable if you terminate early. If this does not work for you, we have other loan options that may better suit your needs.
You must have an Australian bank account, in the same name as your business, to receive your funds.
The NAB QuickBiz Loan has no upfront or ongoing fees but economic costs may apply if you choose to pay the loan off before the end date of the contract.
NAB QuickBiz Overdraft
The overdraft is available as a variable interest rate only. Debit interest is calculated on the daily outstanding balance and is charged to the account on the last banking day of the month. A QuickBiz Overdraft service fee applies and is charged to the account on the last banking day of each month. Fees and charges may apply to your linked transaction account.
You can only borrow up to $50,000 in total limits across both a NAB QuickBiz Overdraft and NAB Business Credit Cards (applied for online).
The NAB QuickBiz Overdraft is only available as a new facility. It can’t be applied to existing NAB business overdrafts.
Business Markets Loan and Business Options Loan
Lending criteria and terms and conditions apply (available on application).
