National Australia Bank has introduced the Microenterprise Loan to assist small business owners.
The Microenterprise Loan is an unsecured, low interest business loan of between $500 and $20,000 for people who are financially disadvantaged and have few or no avenues to access affordable credit. NAB supplies the loans on a not-for-profit basis.
The loan is only part of the assistance provided. Through the support of the South West Sydney Business Enterprise Centre, eligible applicants will get access to business skills, training and advice during their first year of operating their business.