For detailed information on the eligibility criteria of your small business customers, click here.
You can download our handy guide before you get started on a new NAB QuickBiz application. This will help ensure you have the following information ready before you begin:
Forms to be completed
- The Privacy Consent & Payment of Commission form (download the form here for SA and TAS or all other states excluding SA and TAS) needs to be downloaded, completed, signed, and ready to upload
Customer business details to collect
- Current NAB transaction account number if the business banks with NAB
- Ensure they have less than $1m in current business lending with NAB
- ABN number
- Tax status, including where they’re registered for tax
- General business details including registered address
- The number of directors and shareholders (over 25%) in the business
- If your customer’s business has more than 2 directors, you have confirmed which 2 directors a credit check will be run against
Director and shareholder details to collect
For all directors and all shareholders over 25%, if they don’t currently bank with NAB personally or through their business you’ll need:
- Personal details including name, address and email
- Tax status, including if they’re a resident of any other country for tax purposes
- Collect KYC details for each (either 100 points of ID or ZipID or IDYou documents)
Financial details to collect
You may need to supply the following financial information about your customer’s business. For more information, click here to learn about providing financial details in the right format.
- Profit and loss statement for the last 12 months in PDF format (up-to-date within 120 days of your application)
- Balance sheet for the last 12 months in PDF format (up-to-date within 120 days of your application)
- Transaction history for the last 12 months in CSV format (up-to-date within 31 days of your application)
- You’re able to supply the gross profit, total income, bank account balances and total liabilities from the above documents. Learn more about finding this information.
You may be required to provide financial information about your customer’s business as part of this application.
To read more about providing the right financial information, click here.
You can calculate the monthly repayments on a NAB QuickBiz Loan via the customer calculator here.
For the NAB QuickBiz Loan, interest is calculated daily on the remaining loan balance.
For the NAB QuickBiz Overdraft, interest is calculated daily on the outstanding debit balance. This is charged on the last banking day of the month.
The NAB QuickBiz Loan is available as a principal and interest loan for a 12, 24 or 36-month term (with monthly repayments). Your customer will be required to pay off the loan over the selected term.
The NAB QuickBiz Loan has no upfront or ongoing fees. An economic cost may apply if you choose to pay the loan off before the end date of the contract.
The NAB QuickBiz Overdraft has a service fee of 1.75% of the overdraft limit per annum, charged monthly on the last banking day.
Monthly repayments are required for a NAB QuickBiz Loan.
For a NAB QuickBiz Overdraft, there are no set monthly repayments.
If you're conditionally approved, you'll have an opportunity to reduce the amount you apply for before finalising the contract. However, you will not be able to increase the limit once conditionally approved.
Redraws aren't available on this loan. You can make extra payments but economic costs may apply.
You can apply as many times as you like. However, each time you complete an application your customer will undergo a credit reference check. Multiple credit checks may adversely affect their credit rating.
Eligible NAB business accounts include NAB Business Everyday Account, NAB Business Interest Account, NAB Farm Management Account and NAB Community Fee Saver Account.
Business and residential addresses must be in Australia. Unfortunately we're not able to process this application if any additional directors/partners or shareholders (holding 25% or more) have lived overseas in the past three years.