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.
1The NAB Business Support Loan is available to approved NAB business customers, subject to NAB eligibility and lending criteria. Terms and conditions apply.
The following restrictions/exclusions apply:
- The aggregated limits of all other Australian Government 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, except as permitted by the Australian Government’s Coronavirus SME Guarantee Scheme rules and agreed by NAB.
- The loan cannot be used for the purchase of property or equipment.
- Self-Managed Super Funds are excluded.
2Interest rate current as at 12 June 2020 and subject to change.
Please also see:
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.