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NAB gives small businesses more credit

NAB gives small businesses more credit

(19 August 2005 – Australia) National Australia Bank is looking to consolidate its position as the leading lender to small to medium sized businesses by introducing an "all in one" line of credit product aimed at the segment. Called National Business Plus, the product aims to provide customers with more control and flexibility to manage their credit.

NAB executive general manager, Business Products and Services, Bruce Munro, said customers had been asking the bank for a line of credit product that was competitively priced and easier to use.

He said the bank only required one account for all customers’ finance and transaction needs. The account incorporates transaction and short term working capital and longer term debt into the one credit product.

The bank said the minimum loan was $100,000, secured by residential or commercial property and term deposit.
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