Fast online conditional approval is subject to eligibility, credit assessment, lending criteria and ID verification.
You can only apply for this product if:
- Your business is registered for GST and has a turnover of at least $75,000 per year.
- Your business has been in operation for at least 12 months and has a valid Australian Business Number (ABN).
- You have a business and residential address in Australia.
- You intend to use the product where the purpose is wholly or predominately for business purposes. You can't use funds to make payments to the Australian Tax Office.
- You're at least 18 years old and hold an Australian citizenship or permanent residency.
- You're a sole trader, a business partnership with no more than two individual partners, a company with five or less directors or a trustee of an eligible trust. Joint borrowers who are not partnerships, or partnerships where one or more partner is a company are not eligible to apply.
- Due to their specilaised nature, some franchise businesses may not be eligible for QuickBiz.
- Any shareholders of companies or trustee companies that are listed in the application are individuals, and not companies.
- 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.
- 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're 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 $100k in unsecured business lending with NAB (inclusive of this application).
- You'll receive your funds after we receive your completed contract. Business days are Monday to Friday, excluding weekend and VIC public holidays.
- 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 you require different options we have a range of 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.
