Page 31 - Tropic Magazine Issue 26

TROPIC • COVER STORY

TAKING CARE

OF BUSINESS

FINANCING FNQ
As the largest business banking
team in Far North Queensland,
NAB is playing a leading role in
the region’s economy.

Words: Gavin King

By the time the full force of the coronavirus pandemic
was being felt in the national economy in late-June,
National Australia Bank had deferred $20.67 billion
dollars’ worth of business loans. That eye-watering
figure represents nearly 40,000 businesses across
the length and breadth of Australia. From the remote
tip of Cape York to the locked-down metropolis of
Melbourne, NAB’s Business Banking teams have
navigated an unenviable path over the past six
months. Fielding calls from distressed business
owners facing a financial cliff, they’ve had to balance
support and empathy while maintaining financial
stability and fulfilling regulatory requirements.
keeping a cautious eye on the risk burden. Few
Business Banking units in NAB’s national network
have had to deal with that balancing act more than
the local NAB team. Given the devastating blows to
Tropical North Queensland’s tourism and hospitality
sectors – Cairns had the highest JobKeeper rate of

31 • tropicnow.com.au