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Through its Microenterprise Loans pilot, NAB has assisted people on low incomes get a head start in a business environment where there are few or no avenues to access affordable business credit.
Our award-winning Microenterprise Loans pilot, launched 18 months ago, has helped 110 applicants with unsecured, not-for-profit business loans of between $500 and $20,000.
Today, National Australia Bank (NAB) announced it would provide a further $100 million in loan capital to support micro-businesses in Australia; dramatically improving access to affordable financial services.
The $100 million investment, at full capacity, will make Australia a world-leader in microenterprise development in the developed world.
Microenterprise Loans complements NAB’s range of microfinance initiatives including support for the No Interest Loan Schemes (NILS®) and award-winning StepUP Loans (both in partnership with Good Shepherd Family & Youth Services), StepUP Insurance and a range of concessional bank accounts.
More information about NAB’s Microenterprise Loans can be found here.
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