If you are unable to get a normal business loan through a bank and you have a sound business idea, you may be eligible for a NAB Microenterprise Loan.
NAB Microenterprise Loans are unsecured business loans between $500 and $20,000.
Key features of the NAB Microenterprise Loan
Loans are available to help start up or support existing businesses of five or fewer employees. This includes owner-operated businesses and businesses operated from home.
- Loans from $500 to $20,000;
- Interest rate – 5.99% p.a (fixed);
- Up to 3 years repayment period; and
- 90 day interest free access period.