The NAB QuickBiz Loan, which has been developed by in-house innovation hub NAB Labs and will launch in early June 2016, allows eligible customers to apply for up to USD 50.000 in funding via a new online application process.
The new online platform uses NAB’s Application Programming Interface (API) technology to assist with the credit check on the customer’s application and provide an automated credit decision. Customers will have finance for their business account within three days of NAB receiving their signed loan document.
New NAB research shows around 1 in 3 Australians would like to run their own business with young Australians clearly the most aspirational (nearly 1 in 2). The research also showed that banking support (49%) is still commonly cited as an important element to building businesses.
The NAB offers such an online service without a third party referral involved.
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