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2020-10-28 19:31:41coronavirusEnglishFind out how NAB and QuickBooks Online have teamed up to give small business owners access to fast and easy loan applications.https://quickbooks.intuit.com/au/resources/au_qrc/uploads/2020/09/AdobeStock_180221212.jpeghttps://quickbooks.intuit.com/au/resources/coronavirus/nab-small-business-finance/NAB QuickBiz finance solutions for business finance | QuickBooks Online

NAB QuickBiz finance solutions are here

2 min read

What is NAB QuickBiz?

NAB QuickBiz is a fast and easy way to apply for unsecured finance online. NAB’s QuickBiz Loan or QuickBiz Overdraft can be used for a range of business purposes including managing peaks and troughs in cash flow or to support business expansion.

The secure online application process takes as little as 20 minutes to complete, this process is made seamless when you connect to your QuickBooks Online account.

Approvals are based on your cash flow, credit score and time in business, meaning NAB recognises the strength of your business, and not just your assets.

We recommend that you speak to your accountant about what finance solutions best suit your business needs.

NAB QuickBiz finance options which integrate with your Quickbooks online account:

NAB QuickBiz Loan
o An unsecured loan from $5K to $250K
o Fixed repayments over 12, 24, or 36 months
o No upfront or ongoing fees

NAB QuickBiz Overdraft
o An unsecured overdraft facility from $5K to $50k that’s linked to your NAB Business Everyday Account
o Interest charged only on the amount used
o On-going access to funds

Other online finance options from NAB which integrate with your Quickbooks Online account:

NAB Vehicle and Equipment Finance
o A solution that funds a wide range of vehicles and equipment used for business purposes
o Flexible loan terms to best suit your needs

NAB Business Cards
o Choose from a range of Low Rate or Reward Business Credit Cards that suit your business needs

What business information is shared with NAB?

Your QuickBooks Online account is needed for the application and approval process.

The information required to complete an accurate assessment is:

• Profit and Loss report. This must span 12 full months and be up-to-date (within 120 days of application).
• Balance Sheet. This must be up-to-date (within 120 days of application)
• 12 months of transaction history from your business trading account. This must be up-to-date (within 31 days of application).

A secure link between NAB and your QuickBooks account will be established as part of the process Your details will not be distributed to any third parties and will only be used to assess your finance application.

Eligibility Criteria for NAB QuickBiz
• The business must have a valid ABN/ACN registered for at least 12 months and be registered for GST
• A sole trader, a partnership with up to two partners, a company with up to five directors, or a trustee of an eligible trust
• The business must have a turnover of at least $75,000 per year
• The business owner must be over 18 years of age
• The business owner must be an Australian citizen or a permanent resident
• The business and residential address must be in Australia
• 12 months of business financial data from their QBO account is required

Click here for detailed instructions on how to link your QuickBooks account to your application.
All NAB business finance options are subject to credit assessment and approval. To find out more, or to begin your application, visit:
nab.com.au/QuickBiz
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Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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