Business Loans News

NAB to trial micro-credit loans

Friday February 2, 08:08 AM
InfoChoice
The National Australia Bank is seeking government support to give micro-credit loans of up to $20,000 to people who want to start a small business but have no financial backing. Sharman Stone, Federal Workplace Participation Minister, said the government was keen to support micro-credit schemes, as they allowed people with no assets, savings, or credit history to access capital to establish a small business. To promote the loans the federal government will give financial training to unemployed people who want to start a business. NAB plans to trial the micro-credit loans in Victoria and expects to issue about 100 loans over the next 12 months.


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