We understand the challenges facing businesses and the uncertainty experienced by all Australians in the wake of Coronavirus (COVID-19). For more than 160 years we’ve supported Australians through challenges and crisis. We continued lending throughout the Global Financial Crisis and we’ll continue to lend through this pandemic. Our focus is to support you with your financial needs in any way we can. Whether it’s assisting with cash flow, working capital solutions or restructuring existing finances.
1 The NAB Business Recovery Loan is available to approved NAB business customers, subject to NAB eligibility and lending criteria. Terms and conditions, restrictions and exclusions apply. Please see NAB Business Recovery Loans for details.
The following additional restrictions and exclusions apply:
- The aggregated loan limits of all other Australian Government SME Recovery Loan Scheme backed loans, including from lenders other than NAB, cannot exceed $5 million.
- Borrowers must have had turnover of less than $250 million in the last financial year, or likely annual turnover of less than $250 million in this financial year or the next financial year.
- Security over residential property cannot be taken to support these loans.
- Refinance of existing business debts will be permitted subject to the restrictions in the SME Recovery Loan Scheme Rules which are available on the Australian Government Treasury's website.
- Self-managed super funds are excluded.
2 You can request a shorter repayment deferral. You can apply for a repayment deferral of up to 24 months subject to NAB’s discretion.
3 Other fees may apply. Please also see:
Information, fees and rates are correct as at 6 October 2020 and are subject to change. Applications for credit are subject to NAB’s credit approval criteria. Terms and Conditions (PDF, 452KB) apply to all NAB products and are available at nab.com.au, on application or by calling us. Fees and charges are payable. This product is issued by National Australia Bank Limited ABN 12 004 937 AFSL and Australian Credit Licence 230686 (NAB).