NAB Business Support Loans have been designed to help our business customers whose business has been detrimentally impacted3 by COVID-19. There is both a secured and unsecured loan option:
- a secured business loan of up to $1 million with a variable interest rate of 2.95% p.a.2 when secured by a mortgage over owner occupied commercial real estate and you apply by 2 April 2021
- loans with other security suitable to NAB will receive a variable interest rate of 4.50% p.a.2
- an unsecured business loan of up to $250,0001 with a variable interest rate of 4.50% p.a.2
- a loan term of five years
- no repayment is required for the first 6 months (except where the loan is used to refinance a NAB Business Support Loan provided before 30 September 2020)
- interest will continue to accumulate on to your loan during this period
- principal and interest repayments will apply after this period.
- no application or loan service fees.^