NAB welcomes extension of Government SME Recovery Loan for flood support



NAB Group Executive Business and Private Banking, Andrew Irvine, welcomed the additional flood-recovery support announced by the Federal Government and NSW Government today.

“NAB has around 70,000 customers in the regions that have been hit by the floods – and we’re providing a range of support measures including $2,000 cash grants, as part of a $3 million fund.

“We are pleased to support the extension of the Federal Government’s SME Recovery Loan Scheme to those impacted by the floods. In addition to clean-up assistance, it will provide them with the capital to restock and rebuild for the long-term.

“Together, we can help get affected businesses and communities back on their feet, sooner.”

Businesses can now register their interest for a SME Recovery Loan with NAB.

Other NAB disaster relief customer support measures include:

·        Immediate access to $2,000 grants to help cover costs such as temporary accommodation, food and clothing (eligibility details available here).

·        $2,000 business grants to help restart or reopen and cover the cost of damaged property, equipment, fencing – and for loss of stock or livestock. NAB business and agribusiness customer wishing to access the grants should call NAB’s dedicated team on 1300 769 650.

·        Support to restructure existing business banking facilities, waiving the application fee. Fee waiver on terminal rental for a period of up to three months for merchants with working terminals that are no longer able to trade. Deferral of principal and/or leasing payments.

·        Credit card and personal loan relief, as well as waiving application fees and charges for withdrawing term deposits early.

·        Complimentary, professional and confidential counselling.

More information on the $2000 grants is available here.




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