Here’s what you get

  • A secured business loan up to $5 million or an unsecured business loan up to $250,000.1
  • Ability to defer your initial principal and interest repayments for 12 months.2
  • No application or loan service fees.^


  1. Businesses with an ABN and an annual turnover of less than $250 million.1
  2. Businesses that received or were eligible for JobKeeper payments between 4 January 2021 and 28 March 2021; or businesses who have been adversely impacted by recent flooding in Australia.3
  3. New and existing NAB business customers.
  4. Loans are for approved customers and must be used for business purposes only.
  5. Offer available up to 31 December 2021 (signed loan documents required by this date).
  6. NAB eligibility and lending criteria apply. See important information below.

What are NAB Business Recovery Loans?

NAB Business Recovery Loans have been designed to help small and medium sized enterprises (SME) that have been hit hard by the economic impacts of coronavirus (COVID-19), and by March 2021 flooding. The loan forms part of the Federal Government’s new SME Recovery Loan Scheme, allowing eligible businesses to access finance as JobKeeper is phased out.

The NAB Business Recovery Loan is provided as part of the Australian Government’s SME Recovery Loan Scheme (‘Scheme’). Eligibility under the Scheme is determined by the Scheme rules.

Eligibility rule changes

On 25 August 2021, the Government announced that in recognition of the continued economic impacts of the coronavirus, the current requirements for SME’s to have received JobKeeper during the March quarter of 2021 or to have been a flood affected business in order to be eligible under the SME Recovery Loan Scheme will be removed. The commencement date for these changes has not yet been confirmed. NAB welcomes this announcement, and we’ll have more information available about updated eligibility and terms shortly. If you’d like to be contacted by one of our bankers to discuss the NAB Business Recovery loan, please complete our enquiry form.

What types of loans are available?

You can apply for a secured or unsecured loan. We can help you understand the differences between secured and unsecured loans if you’re unsure which is right for you.

Secured loans

You can apply for a secured business loan of up to $5 million, with security options including a mortgage over commercial real estate, or other security suitable to NAB.1 Residential property cannot be used to secure this type of loan.

Unsecured loans

You can apply for an unsecured business loan of up to $250,000.1

The benefits of NAB Business Recovery Loans

There are several key benefits of NAB Business Recovery Loans for eligible businesses, including:

  • a loan term of 10 years
  • approved borrowers can access up to $5 million per ABN
  • no repayments required for 12 months2
    • interest will continue to accumulate on your loan during this period
    • principal and interest repayments will apply after this period
  • no application or loan service fees.^

Deferring repayments

It’s important to understand that by deferring your repayments, you'll pay more interest than if principal and interest repayments were made from the start of your loan (your loan commencement). Once your deferral period ends, your loan balance will include the original loan amount, plus the interest that’s accumulated during your repayment deferral.

You can still make repayments during the deferral period. If you do, this will reduce the interest you’ll be charged.

How to apply for a NAB Business Recovery Loan

To register your interest in applying for a loan you can use our enquiry form. One of our bankers will then be in touch to discuss how we can assist.

If you’re an existing NAB business customer, you can speak directly to your business banker to register your interest. Alternatively, if you’re new to NAB call us on 13 10 12 to discuss.

We’ll require signed loan documents for your NAB Business Recovery Loan by 31 December 2021. To allow us enough time to prepare loan documents, and for you to have enough time to fill them out, we recommend you apply by 10 December 2021.

For more information on the Australian Government SME Recovery Loan Scheme, please visit the Treasury website.

Understanding the scheme’s eligibility criteria

Your business may be eligible if:

  • you have an ABN and had annual turnover of less than $250 million in FYE20; or are likely to have an annual turnover of less than $250 million in FYE21 or FYE22; and
  • your business received or was eligible for JobKeeper payments between 4 January 2021 and 28 March 2021; or was economically affected by the March 2021 Floods and are located in a Flood Affected Area or operate in a Flood Affected Area3; and
  • your signed loan documents are received by NAB by 31 December 2021.

Please note that the loan must only be used for business purposes, such as:

  • working capital
  • capital expenditure
  • supporting business acquisition (when structured in a way that meets SME Recovery Loan rules)
  • purchasing owner-occupied commercial property
  • refinancing eligible business debt (restrictions apply).1

The NAB Business Recovery Loan is not available for customers of NAB’s Institutional Bank. NAB is committed to finding appropriate support for these larger businesses on a case-by-case basis. Please refer to our Institutional Bankers for further support.

Rates and fees

NAB Business Recovery Loan rates and fees
Loan amount Variable rate
Secured loan up to $5 million Variable rate
  • Loans fully secured by a mortgage over owner-occupied commercial real estate – 2.80% p.a.4 
  • Loans fully secured by a mortgage over investment commercial real estate – 3.30% p.a.4
  • Loans with other security suitable to NAB – 3.95% p.a.4
Unsecured loan up to $250,000 Variable rate 3.95% p.a.4

The above variable rate is comprised of the Business Options Prime Indicator Rate plus or minus a lending margin. Rates are subject to change. Residential property cannot be used to secure this type of loan.

Other options for your business

If you aren’t eligible for a NAB Business Recovery Loan, we may have other support options available for your business. Alternatively, we have a range of business loans and overdrafts that may meet your needs. To find out what support NAB is offering for flood-impacted customers, please visit our natural disaster and crisis support page.

If you’re experiencing financial difficulty, or need to discuss your existing NAB facilities, you can speak with a NAB Business Banker to discuss your needs in more detail or call us on 13 10 12.

Loans and finance

Starting a business or looking to expand? Our range of business loans, overdrafts, equipment and trade finance options can help you achieve your goals.

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Important Information

While the Government will provide NAB with an 80% guarantee on these loans, 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 is for 10 years. Please note that while approved applicants are eligible to defer repayments, interest will continue to accrue over this period. The loan must be repaid with principal and interest repayments that begin after the deferral period.

1 The NAB Business Recovery Loan is only available to approved business applications, subject to NAB eligibility and lending criteria. Terms and conditions apply.

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. Debts secured by residential property cannot be refinanced.
  • 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 Eligible SMEs located or operating in areas impacted by the floods in March 2021 may apply for a loan under the SME Recovery Loan Scheme. The current list of eligible Local Government Areas (LGAs) impacted by the floods are available on the Australian Government Treasury’s website.

4 Interest rates are current as of 6 May 2021 and subject to change.

Please also see:

^Other fees may apply.

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.