NAB is here to support Australian business

We understand the challenges facing businesses and uncertainty experienced by all Australians in the wake of Coronavirus (COVID-19). NAB continued lending throughout the Global Financial Crisis and we’ll continue to lend through this. Our focus is to support you with your financial needs in any way we can. Whether it’s assisting with cash flow, working capital solutions or restructuring existing finances.

Ross McEwan Profile


“Businesses in particular need help and they need it now, so we have come through with a range of measures. This support will provide cash flow relief so they can stay open, and keep people in jobs. One third of Australia’s small to medium businesses bank with NAB and we are going to be there for them."

- NAB CEO Ross McEwan

Our bankers are here to support you

We encourage any customers that need help to contact us through our Small Business Support team on 1300 881 661, or alternatively contact your relationship banker, so we can help mitigate the impacts of COVID-19 on your business.

Interested in an SME Recovery Scheme Loan of up to $5 million?

NAB Business Support Loans

NAB's Business Support Loans have been designed to support our business customers. There are both secured and unsecured loan options with a loan term of five years (subject to our eligibility criteria). Business customers with an annual turnover of less than $50 million across all their related business entities can apply to borrow up to $1 million (secured) to assist with maintaining and growing their business during COVID-19 and:

  • pay no application or loan service fees^
  • receive a loan term of five years
  • receive a variable interest rate, currently 2.95% p.a.1 for loans applied for by 2 April 2021 and secured by a mortgage over owner occupied commercial real estate
  • receive a variable interest rate, currently 4.50% p.a.1 for unsecured loans or loans with other security suitable to NAB
  • make no repayments for the first six months (interest will still accumulate on your loan in this period, and principal and interest repayments will apply after this period).2 This six month grace period does not apply to loans used to refinance NAB Business Support Loans provided before 30 September 2020.

For details, including eligibility and lending criteria, please visit our NAB Business Support Loans page.3

NAB Business Recovery Loans

Our NAB Business Recovery Loan is designed to help businesses bounce back after a hard year. Eligible businesses can borrow up to $5 million with a secured loan or up to $250,0004 with an unsecured loan.

  • loan terms of up to 10 years
  • approved borrowers can access up to $5 million per ABN
  • no repayments required for 12 months5
    • 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.^

Learn more about NAB Business Recovery Loans.

Business credit card support

How to get hardship assistance

If you can't make your minimum monthly payments or are likely to go into hardship, we're here to help. Submit a request for support online with our specialist team. Alternatively, NAB's Business Customer Care team is available on 1300 961 577 to discuss options Monday to Friday 8am-5pm (AEST/AEDT). Please be aware that our contact centre is currently experiencing high demand and longer than usual response times.

Merchant customer support

We’re proud to have assisted our small and medium business merchants and HICAPS merchants by temporarily waiving package price fee, minimum merchant service fees and terminal rental fees from April 2020 through to July 2020. For our Victorian merchants, the fee waivers were extended until October in line with government lockdown instructions. Merchants will notice the changes in billing in their monthly merchant statements for these months. NAB has resumed standard billing from 1 November 2020..

If you need to discuss ways NAB can help support your business, please speak to your relationship banker or call our Merchant Help Desk on 1300 369 852, 7am to 7pm, 7 days a week. For HICAPS merchants please visit the HICAPS website or call the HICAPS Help Desk on 1300 650 852, 8am to 10pm, Monday to Saturday.

Telehealth and COVID-19 items added to HICAPS

GPs, specialists, consultant physicians, obstetricians, consultant psychiatrists, nurse practitioners, allied mental health workers and midwives can now provide health consultations via telehealth services. These consultations are bulk billed at no cost to patients through their HICAPS terminals. For more information visit our HICAPS COVID-19 Telehealth services page.

Business support FAQs

How can I increase my cash flow to support my working capital needs?

If your business has been detrimentally impacted by COVID-19, we have a range of options to support you.

Subject to our eligibility and lending criteria, you could take out a new unsecured NAB Business Support Loan and borrow up to $250,000 with:

  • no application or loan service fees, a loan term of up to three years, a variable interest rate currently 4.5% p.a.
  • no repayments required for the first six months (interest will still accumulate on to your loan in this period, and principal and interest repayments will apply after this period).1

This loan is available for business customers with a combined annual turnover of less than $50 million across all their related business entities. It can only be used for working capital purposes and is not available for refinancing.

For details about this loan, including eligibility and lending criteria, please refer to NAB Business Support Loans.

Can you reduce my interest rates or remove my fees?

Small businesses will automatically receive an additional 100-basis point (bps) reduction on variable rates for business options loans from Monday 30 March 2020. This is on top of a 25-bps reduction in early March.

What options are available for me to restructure my current loans?

We have a range of relief options available to support our business customers impacted during this difficult period. You can talk to your relationship banker or you can contact our Small Business Support team on 1300 881 661.

What if I can’t pay my minimum monthly credit card payment?

Your account may be stopped for future use until a minimum payment has been made.

If you can’t make your minimum monthly payments or if you’re likely to go into hardship, then please reach out to our NAB Business Customer Care team. Due to high call volumes and longer than usual response times, we recommend submitting our hardship form and we’ll contact you as soon as possible. You can also call our customer care team on 1300 961 577 to discuss your options.

If I only pay my minimum monthly credit card payment, what happens to the interest?

Interest is calculated daily on the outstanding balance, so it’s always best to pay as much as you can to reduce this balance. If you only pay the minimum amount, you’ll be charged more interest than if you were to pay a larger amount or if you were to pay your balance in full.

What if I have a direct debit set up to pay the minimum monthly credit card payment?

The reduced minimum monthly payment will be applied automatically to any statement that is issued on or after 27 April 2020, including connected direct debits.

How do I change my direct debit amount?

If you have a direct debit set up to pay your NAB credit card account, you can change this by completing our Direct Debit Request Form(PDF, 809KB) and returning it to your banker or local branch.

What if I require a Business Loan repayment deferral?

Applications for repayment deferrals on business loans and equipment finance closed on 15th February 2021. We encourage any customers that need help to contact us through our Small Business Support team on 1300 881 661, or alternatively contact your relationship banker.

We're in this together

For more than 160-years, we’ve supported Australian’s through challenges. We're well-capitalised and stand ready to play our critical role in this global crisis. This means working with the Government and regulators on other necessary measures to support Australians and make sure credit keeps flowing.

Business customers experiencing financial hardship are invited to contact us through our Small Business Support team on 1300 881 661, or alternatively, contact your banker directly. Please be aware that we are currently experiencing high demand and longer than usual response times.

Our teams are working hard to help you as quickly as we can and we appreciate your patience should you experience longer than normal wait times.

How we're supporting you

As we all come to terms with the growing challenges of the COVID-19 pandemic, our focus is clear, to support you with your financial needs in any way we can.

Two women working on a document

Guidance during COVID-19

Read how to bank with us and stay safe and avoid COVID-19.
A couple looking at each other

COVID-19 support for home owners

Read about the type of support we’re offering home owners during COVID-19.
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Government support for small business

Read about the Government’s support for small business.
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Business Support Loans

Loans of up to $1 million to help support your business. Find out more.
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Banking with NAB through COVID-19

Find updates on banking online and in person during COVID-19.

NAB Business Recovery Loans

Interested in an SME Recovery Scheme Loan of up to $5 million?

Important information

^ Other fees may apply.

1 Interest rate current as at 6 May 2021 and subject to change.

2 The NAB Business Support Loans are provided as part of the Australian Government’s Coronavirus SME Guarantee Scheme 2.0. 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 is five 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.

3 The NAB Business Support Loan is subject to NAB eligibility and lending criteria. Terms and conditions, and restrictions/exclusions apply. Interest rate current as at 6 May 2021 and subject to change. Please see NAB Business Support Loans for details.

4 The NAB Business Recovery Loan is available to approved NAB business customers, subject to NAB eligibility and lending criteria. Terms and conditions, restrictions and exclusions apply. Please see NAB Business Recovery Loans for details.

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.
  • Self-managed super funds are excluded.

5 You can request a shorter repayment deferral. You can apply for a repayment deferral of up to 24 months subject to NAB’s discretion.

Information, fees and rates are correct as at 6 October 2020 and are subject to change. Applications for credit are subject to NAB’s credit approval criteria. Terms and Conditions (PDF, 452KB) apply to all NAB products and are available at nab.com.au, on application or by calling us. Fees and charges are payable. This product is issued by National Australia Bank Limited ABN 12 004 937 AFSL and Australian Credit Licence 230686 (NAB).