News In Brief

NAB banks on Quest’s accelerated growth

Accreditation weaves further layer of support for Franchise Business Owners

Following the National Australia Bank’s (NAB) move to give Quest Apartment Hotels accreditation as a Preferred Franchise system, Quest Franchise Business Owners are now in position to benefit from the bank’s ‘Franchisee Banking Package’.

The accreditation, which the company says builds on a “robust relationship” with the bank, unlocks tailored support in helping to fast track and streamline a process for obtaining finance to purchase a business, or to refinance existing business loans.

This has resulted in a fast-track, streamlined process for Franchise Business Owners, be they commencing on or continuing their business journey with Quest.

Quest Managing Director, David Mansfield

Quest Apartment Hotels Managing Director, David Mansfield said the move for the company, already recognised as the first franchise system in Australia to secure a 5-star rating, gives a new vote of confidence in the Quest model and opens the door to dedicated Franchise Banking Specialists at NAB. 

“NAB now possess an intimate understanding of who we are as a franchise, and why, as Australia’s largest serviced apartment operator, we represent a valuable investment,” he said.
“By working to strengthen our longstanding relationship with NAB over the last year, Quest has a banking partner who is even more committed to backing the dreams of our Business Owners.”

Quest Chief Financial & Commercial Officer, Kamal Atal

Quest’s Chief Finance and Commercial Officer, Kamal Atal said NAB’s concrete knowledge of the Quest model means franchise Business Owners can now simplify the process of accessing finance. 

“The Quest team worked hand in glove with NAB over the last year, ensuring we not only met their rigorous requirements but also demonstrated concrete proof of the immense value we’ve built into our brand,” he said.

“NAB now have an intimate understanding of the Quest franchise model, where our core focus is supporting Franchise Business Owners in growing the profitability of their properties.

“I’m delighted that NAB now offers Quest Franchise Business Owners a bespoke service incorporating financial support tailored to their needs,” said Kamal.
NAB Franchise Banking Director, Sasha Melicov said the bank appreciated and valued the time Quest dedicated to this process to help gain a deeper understanding of its franchise system.

Accreditation with NAB cements Quest’s position as a preferred franchising provider, with a proven track record in securing franchisee success and increasing the value of their businesses.

Accreditation also ensures Business Owners have more options to invest in the world class brand.

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