​​New guarantee to support Indigenous Businesses​

The Indigenous Business Guarantee (the Guarantee) supports First Nations businesses with loans via NAB of up to $1 million per business. As part of this process, IBA guarantee up to 50% of the loan amount.

IBA Chief Executive Officer David Knights said the guarantee will help support more First Nations business owners access the funding they need to invest and expand.

“First Nations businesses bring deep experience and innovation to the Australian economy, and access to finance helps them take the next step,” Mr Knights said.

“By broadening the access to capital for First Nations businesses and collaborating with the financial sector, we can expand the support available for businesses to achieve their goals. This is about backing strong businesses and supporting sustainable economic outcomes for First Nations people.”

The guarantee aligns with IBA’s strategy to 2030, with a goal to invest $5 to 7 billion over the next five years to advance the commercial and economic interests of First Nations people. It is also part of NAB’s ambition to lend $1 billion to Australia’s estimated 5,200 registered First Nations business and community organisations.

NAB Business and Private Banking Group Executive Andrew Auerbach said the Indigenous Business Guarantee was a practical, targeted way for First Nations businesses to unlock growth.

“Strong First Nations businesses deserve innovative solutions that unlock capital, to help them realise their ambition and potential,” Mr Auerbach said.

“This guarantee helps remove that barrier, enabling good businesses to invest, grow and create jobs on their own terms. First Nations businesses are critical to local economies and communities. When they succeed, the benefits flow well beyond the business itself.”

The initiative forms part of the broader Indigenous business strategies and Reconciliation Action Plans of both IBA and NAB.