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frequently asked questions about business loans in nz

  • There isn't one set of criteria for business loans in New Zealand. Lenders consider factors such as how long you've been trading, revenue and profitability, credit history, existing borrowing, tax position and any security available. Different lenders also have different criteria, so being declined by one lender doesn't necessarily mean you have no other options.

  • It depends on the lender and type of finance. You may be asked for recent business bank statements, financial accounts, GST returns, details of existing borrowing and information about what the funds will be used for. Secured lending may also require information about the property or assets being offered as security. We can tell you what information a lender is likely to need before you apply.

  • Possibly. Banks generally have stricter lending criteria than many non-bank business lenders. A bank declining your application doesn't necessarily mean your business can't obtain finance. We can look at why the application was declined and whether there are other lenders or types of business finance that may be suitable.

  • There may be options. Banks generally won't provide new business lending when a business has outstanding tax debt, but some non-bank lenders may consider applications from businesses with IRD arrears. Your options will depend on factors including the amount owing, your business's financial position, any repayment arrangement with Inland Revenue and whether security is available.

  • Different business lenders have different criteria, documentation requirements and appetites for lending. A business finance broker can help identify which lenders are more likely to consider your circumstances, explain what information you'll need and help prepare your application. This can be particularly useful when your borrowing needs or financial circumstances aren't straightforward.