NAB QuickBiz Loan

Information verified correct on October 28th, 2016

Apply for a loan of up to $50,000 and have the approved money in your account within three days.

If you're looking for a convenient way to access finance for your business you can consider NAB's QuickBiz Loan. By linking 12 months of your business's finances you can get a response from NAB in 60 seconds. The loan comes with a fixed rate to help you work the repayments into your cash flow and you can apply for between $5,000 and $50,000. Find out exactly how this loan works and how it could work for your business.

Product NameNAB QuickBiz Loan
Min Loan Amount$5,000
Max. Loan Amount$50,000
Application Fee$0
Loan Term1 - 2 years

How does the NAB QuickBiz Loan work?

The application for the NAB QuickBiz Loan is simple and shouldn't take you more than 20 minutes. You'll need details of your business and 12 months of financial records, which can be provided by linking your business's accounting data from Xero or MYOB, as well a form of ID. NAB can respond in 60 seconds. The loan comes with a fixed rate of 13.85% p.a.. with no upfront or ongoing fees. You'll need to make monthly principal and interest repayments over a period of 12 or 24 months.

What features are on offer?

NAB offers many features as part of its QuickBiz Loan. These include:

  • A wide range of loan amounts available. You can apply for a loan of between $5,000 and $50,000, making it suitable for a range of businesses and business purposes.
  • Fast application and turnaround. The application process will take approximately 20 minutes to complete and you can receive a response in 60 seconds. If you're approved, the funds will be in your account three days after you complete your loan contract.
  • A choice of loan terms. You can repay your business loan over a 12- or 24-month period, depending on what better suits your business.
  • The option to link your accounting data. NAB makes the application process easy by letting you link your MYOB or Xero accounting data to your application.
  • The loan is open to a range of businesses. You can apply if you're a sole trader, part of a partnership with up to two partners or if you're a company with up to two directors. Your business just needs to have been operating for at least 12 months and be registered in Australia.
  • Fixed interest rate and no upfront or ongoing fees. The loan comes with a fixed interest rate of 13.85% p.a.. and there are no upfront or ongoing fees.
  • No security required. This loan is unsecured, so you won't need to risk your business or personal assets to be eligible.

How much does the loan cost?

If you're thinking about applying for the NAB QuickBiz Loan, consider the following costs:

  • Interest rate. This loan comes with a fixed interest rate of 13.85% p.a..
  • Fees. You won't pay any upfront or ongoing fees.

How you can apply

Ready to apply for NAB's QuickBiz Loan? You can click "Go to Site" to get the process started. Your business will need to meet the following criteria:

  • You must be either a sole trader, part of a partnership with up to two partners or part of a company with up to two directors
  • Your business must have been operating for at least 12 months
  • You must have a valid Australian Business Number (ABN)
  • You must be at least 18 years old and an Australian citizen or permanent resident
  • You must have an Australian business and residential address

If you and your business meet the above criteria you can submit your application. You'll need the following to apply:

  • Your business details including your ABN or ACN
  • Details of your passport, driver's licence or Medicare card if you aren't a current NAB customer
  • Details of the other directors, partners or shareholders, if applicable
  • 12 months of financial data. If you use MYOB or Xero you can link these into the application for your data to be automatically supplied
  • Business trading account details including where you make your ATO payments
  • Accounting package login details (if you have one)

The NAB QuickBiz Loan is a convenient option to consider for your business finance, but as the right loan will be different for each business, make sure you compare your options before you apply.

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