Big four bank builds broker SME support

by Miklos Bolza10 Apr 2017
National Australia Bank (NAB) has expanded the support it provides to brokers and their small business customers.

The bank’s renewed Small Business Offer gives brokers access to the NAB Business Options Loan: a tailored, flexible small business loan of up to $1m with no application fee.

“Diversifying into small business lending can be a big step for brokers, and NAB will be there to help brokers at every stage in the process,” NAB general manager of broker distribution, Steve Kane said.

Broker will also gain access to NAB’s small business toolkit which includes a conversation tool to help brokers have a more informed discussion with their small business clients.

The toolkit also comes with a pre-qualifying tool that takes brokers through the different customer information required pending each type of transaction. The tool then informs brokers whether the application meets NAB’s qualifying criteria for that facility.

“The pre-qualifying tool is designed to support brokers to have better conversations with their customers around their business lending needs. We know small business customers are time poor, and providing this tool to our brokers will help them provide a quicker response to their customers,” Kane told Australian Broker.

NAB is well placed to guide brokers through the nuances of the small business lending industry, he continued.

“We know small business customers see their personal and business banking needs as one, so it’s important brokers are equipped to discuss all of our different products and services.”

NAB will also support brokers through a centralised team of business bankers dedicated to originating broker-referred small business lending. These bankers will act as a single point of contact for brokers, coming with a full credit approval authority for the home and business lending needs of these small business customers.

“We have a team of business development managers and business bankers dedicated to supporting brokers with any enquiries they have from their customers. Brokers have a direct phone and email contact for a business banker who can assist them,” Kane said.

“We want more brokers to consider small business lending as a way to not only grow their own business, but to service more of their customer needs.”

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