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.^
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.
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.
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.
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.
You can apply for an unsecured business loan of up to $250,000.1
There are several key benefits of NAB Business Recovery Loans for eligible businesses, including:
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.
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.
Your business may be eligible if:
Please note that the loan must only be used for business purposes, such as:
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.
|Loan amount||Variable rate|
|Secured loan up to $5 million||
|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.
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.
Starting a business or looking to expand? Our range of business loans, overdrafts, equipment and trade finance options can help you achieve your goals.
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:
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.