This loan is available only as fixed interest rate principal and interest loan for a 12 or 24 month term with monthly repayments at a rate of 13.85% per annum. Variable rate loan and interest only loans are not available. Economic costs may be payable if you terminate early. If this does not work for you, we have other loan options that may better suit your needs.
You can only receive funds from one approved NAB QuickBiz Loan every 90 days.
Instant answer online and funding subject to credit assessment and verifications.
This loan is only available for loans which are wholly or predominantly for business purposes. This loan cannot be used to make payments to the Australian Tax Office.
Your business must have been in operation for at least 12 months and have a valid Australian Business Number (ABN).
You need to be at least 18 years or older to apply and hold an Australian citizenship or permanent residency.
Your business and residential address must be in Australia.
This loan is only available for sole traders, business partnerships with 2 or less individual partners, and companies with 5 or less directors borrowing in their own right. It is not available for joint borrowers who are not partnerships, or partnerships where one or more partner is a company. It is not available if you are borrowing as trustee of a trust.
Any shareholders of companies listed in the application must be individuals, and not companies.
If you are an existing NAB Customer, you must have operated all accounts in accordance with the terms of those accounts.
If you are an existing NAB Customer, you can only apply for this loan if you have less than $1m in existing business lending and less than $100k in unsecured business lending with NAB (inclusive of this application).
You must have an Australian bank account, in the same name as your business, to receive your funds.
NAB may have other options which suit your business better if you do not meet the conditions for this loan. You can contact us 13 10 12 to discuss.