National Australia Bank (NAB)
Borrow between $5,000 and $250,000 with no upfront or ongoing fees, fixed interest from 12.95% p.a. Easy online application. No assets required.
The NAB QuickBiz Unsecured Business Loan offers fast funding of up to $250,000 with no need for physical assets as collateral. With a competitive fixed interest rate of 12.95% per annum and no upfront or ongoing fees, this loan is geared towards small and medium businesses looking for flexibility and ease in accessing business finance. Applicants can choose terms up to five years, making it a great option for managing repayments.
How to Apply: Simple Steps
To apply for the NAB QuickBiz loan, first check your business meets eligibility criteria such as over $75,000 annual turnover, at least 12 months of trading, and Australian residency for the applicant. Next, complete the fast online application, which usually takes less than 15 minutes. Once you submit the required documents and information, you’ll receive an instant decision, and approved applicants get immediate access to funds in their NAB business account.
Pros of the NAB QuickBiz Loan
One of the main advantages is the speed and convenience—both the application and funding can occur on the same business day. Additionally, as there’s no need for asset security, businesses can retain control of their property or equipment while still accessing capital. The fixed rate and $0 fee structure further simplify planning and budgeting for repayments.
Nadelen om te overwegen
On the downside, the fixed interest rate, while competitive, may still be higher than some secured options. There’s also no option for interest-only repayments or variable rates. Furthermore, paying the loan off early may incur economic costs, so early termination should be carefully considered.
Ons oordeel
For business owners who need capital quickly without tying up assets, the NAB QuickBiz Unsecured Business Loan is among the leading options in Australia. The straightforward application, instant decisions, and lack of hidden fees stand out, though borrowers should weigh the higher rates compared to secured loans. Overall, it’s a practical choice for SMEs prioritising ease and speed.
