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For business owners
Banks are cautious with small business lending, and the right type of finance depends on what it’s for. Buying premises, smoothing cash flow and buying equipment all suit different products.
By Yatin Kainth, Financial Adviser FSP1007497. Last reviewed
Short answer
Business finance in NZ includes commercial property loans for premises, invoice finance that advances cash against unpaid invoices, term business loans for growth, asset finance for vehicles and equipment, and short-term funding for IRD debt. Matching the product to the purpose usually gets a better rate and an easier approval.
Pick the option closest to where you are and I’ll point you to the right page.
Owner-occupied premises, commercial investment and refinancing.
Commercial →Turn unpaid invoices into cash this week.
Invoice finance →Term loans, overdrafts, asset finance and tax debt funding.
Business loans →Land, builds and finished stock.
Development →Yes, and it often gets a much lower rate. But it puts your home at risk if the business struggles, so think about how much to secure and get legal advice before signing a guarantee.
Invoice finance and some asset finance can be approved in days. Commercial property loans usually take two to six weeks with valuations.
It’s harder, but possible with security, a strong plan or industry experience. Asset finance and secured loans are the most common starting points.
Some commercial deals carry a broker fee because lenders pay less commission. I’ll confirm any fee in writing before any work starts.
A short chat about your numbers and I’ll tell you which lenders are worth approaching.
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