Increased COVID-19 support for business

We’re here to help - our business customers can request support online.

“Businesses in particular need help and they need it now, so we have come through with a range of measures. This support will provide cash flow relief so they can stay open, and keep people in jobs. One third of Australia’s small to medium businesses bank with NAB and we are going to be there for them".

- NAB CEO Ross McEwan

We understand the challenges facing businesses and uncertainty experienced by all Australians in the wake of COVID-19. NAB continued lending throughout the Global Financial Crisis and we’ll continue to lend through this. Our focus is clear; to support you with your financial needs in any way we can. Whether it’s assisting with cash flow, working capital solutions, restructuring existing finances or payment deferrals.

We encourage any customer that needs help to contact us so we can work with you to help mitigate the impacts of COVID-19 on your business.

You can submit a request for support online with our specialist team.

Alternatively, you can contact your Relationship Banker directly or call our Small Business banking support team on 13 10 12 for support, but please be conscious that we are currently experiencing high demand and longer than usual response times.

We are here to serve you and have the experience, tools and guidance to support you in making immediate decisions to help your business.

Business loans support

Choose to defer your principal and interest payments for up to six months on a range of business loans, including loans with floating and variable rates and equipment finance loans.
Automatically receive an additional 100-basis point reduction on variable rates for small business options loans from Monday 30 March 2020. This is on top of a 25-basis point reduction earlier in March.
Take out a new unsecured loan of up to $250,000 (lending criteria applies). The new NAB Business Support Loan has no establishment or account fee for a period of up to 3 years. The loan has a variable rate of 4.5% p.a. with no repayments due for 6 months and is available where you and your related business entities have a combined annual turnover under $50 million. Learn more about our NAB Business Support Loan.

Business credit cards support

Pause business credit card repayments for up to 6 months (including a 3 months checkpoint).

For larger business customers, NAB is committed to finding appropriate support on a case by case basis.

Please contact the Merchant Helpdesk on 1300 369 852 or the HICAPS Help Desk on 1300 650 852. There are three support packages available. These are tailored for:

Merchants that are facing financial hardship

For merchants with working terminal(s) that are facing financial hardship due to the Coronavirus, but can still trade as an essential service, we’ll offer a fee waiver on terminal rental for a period of up to 6 months.

Merchants that won't be operational for some time, so want to suspend trade

If you have working terminal(s) but can no longer trade, and therefore wish to temporarily suspend your facility, we’ll offer a fee waiver on terminal rental and monthly fees (i.e. package or MSF costs) for a period of up to 6 months.

Merchants wanting to permanently close their facility

If your business can no longer trade, and you wish to permanently close off your facility, we’ll close your facility for you.

HICAPS can now process Medicare item codes for telehealth services and COVID-19 items

GPs, specialists, consultant physicians, obstetricians, consultant psychiatrists, nurse practitioners, allied mental health workers and midwives can now provide health consultations via telehealth services, which are bulk billed at no cost to patients through their HICAPS terminals. For more information visit COVID19 telehealth services.

Home loan customers will be able to defer home loan repayments for up to six months, including a three-month checkpoint with the bank. For a customer with a typical home loan of $400,000, this will mean access to an additional $11,006 over six months, or $1,834 per month.

For more than 160-years, we’ve supported Australian’s through challenges. We are well-capitalised and stand ready to play our critical role in this global crisis. This means working with the Government and regulators on other necessary measures to support Australians and make sure credit keeps flowing.

Business customers experiencing financial hardship are invited to submit a request for support online with our specialist team. Alternatively, you can contact your Relationship Banker directly or call our Small Business banking support team on 13 10 12 for support, but please be conscious that we are currently experiencing high demand and longer than usual response times.

Our teams are working hard to help you as quickly as we can and we appreciate your patience should you experience longer than normal wait times.

As we all come to terms with the growing challenges of the Coronavirus pandemic, our focus is clear, to support you with your financial needs in any way we can for both business owners and home owners.