The NAB Business Support Loan is provided as part of the Australian Government's Coronavirus SME Guarantee Scheme. While the Government provides NAB with a 50% guarantee on the loan, this in no way changes a borrower's obligations to repay the loan in full by the end of term. The term of the loan cannot be greater than three years. Please note that while this loan requires no repayments for the first six months, interest will also continue to accrue over this period. The loan must be repaid with principal and interest repayments that begin after the first six months.
1 Subject to NAB eligibility and lending criteria. Terms and conditions apply.
* The offer is available to customers with a combined annual turnover of less than $50m across all their related business entities.
Please note, the following restrictions/exclusions with this offer:
- The aggregated limits of all other Australian Government’s Coronavirus SME Guarantee Scheme-backed loans, including from lenders other than NAB, cannot exceed $250,000.
- The loan must not be used to refinance any facilities or loans with NAB, or any other lender or financier.
- The loan cannot be used for the purchase of property or equipment.
- Self-Managed Super Funds (SMSFs) are excluded from this offer.
Interest rate current as at 8 May 2020 and subject to change.
NAB recommends you consider the Product Disclosure Statement or other disclosure document, available from NAB, before making any decisions regarding these products. These products are issued by National Australia Bank Ltd ABN 12 004 044 937.