NAB launched their award winning Microenterprise Loans pilot 18 months ago. Since then 110 applicants have been supported with unsecured, not-for-profit business loans of between $500 and $20,000.
NAB has announced that they are now providing $100 million in loan capital to support micro-businesses in Australia. This investment, at its full capacity, will make Australia a microenterprise world-leader in the developed world. At a more grassroots level, it will provide not-for-profit loans to fund Australians with a sound business plan but little or no avenues to access business credit. NAB will also be looking to build additional partnerships with community and government organisations to help deliver the increased scale of this loan product.
Visit www.nab.com.au/community for more information.
Oct. 09, 2008
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