Speed in non-bank lending is a two-way street. Lenders can decide quickly, but only as quickly as you can answer their questions. Having the basics ready before you apply is the simplest way to turn “days” into “sooner”. Here’s the checklist.
For every application
1. The amount and the purpose
Be specific. “$85,000 to pay out IRD arrears and cover a quarter of wages while a contract starts” is far more useful than “about $100k for cash flow”. Include quotes or invoices where the money is going to a specific purchase.
2. Your business details
- Legal name and trading name.
- Structure: sole trader, company, partnership or trust. All can apply.
- NZBN, and company number if a company. These are on the Companies Office register.
- How long you’ve been trading.
- Directors, shareholders, partners or trustees.
3. Identification
Lenders must verify identity under anti-money-laundering rules. Have a current driver licence or passport ready for each director, owner or guarantor, plus proof of address if asked.
4. Your exit, in one sentence
How will the loan be repaid? From trading, a sale, a contract payment or a refinance? See planning your exit.
5. Anything a credit check will find
Defaults, arrears, judgments, IRD debt. Disclose them upfront with a short explanation of what happened and what’s changed. It saves time and builds trust.
Extra for property-secured loans
- Property address and who owns it (you, your company, a trust, a supporting family member).
- Estimated value, even roughly. A recent valuation or rating value helps.
- Existing mortgage: lender and approximate balance.
- Title type: freehold, cross-lease, unit title, leasehold. Note anything unusual.
- Your lawyer’s details. You’ll need independent legal advice before settlement.
No financials or tax returns are needed for the initial assessment through our panel.
Extra for unsecured loans and lines of credit
- Recent business bank statements, typically several months. Many lenders connect securely to your bank to read them.
- Other finance: current loans, leases, pay-later plans and their repayments.
- Tax position: whether GST and PAYE are up to date, or details of any IRD arrangement.
- Trading history: usually 6+ months.
Nice to have (and sometimes asked for)
- Recent management accounts or a profit and loss from your accounting software.
- A 13-week cash flow forecast.
- Your latest financial statements, if available.
- A list of major customers and any big upcoming contracts.
Quick checklist
| Item | Every loan | Property-secured | Unsecured / LOC |
|---|---|---|---|
| Amount and purpose | ✔ | ✔ | ✔ |
| Business structure and NZBN | ✔ | ✔ | ✔ |
| ID for owners/directors | ✔ | ✔ | ✔ |
| Exit plan | ✔ | ✔ | ✔ |
| Credit history disclosure | ✔ | ✔ | ✔ |
| Property details and mortgage | ✔ | ||
| Lawyer’s details | ✔ | ||
| Business bank statements | ✔ | ||
| Existing finance commitments | ✔ | ||
| Tax position | ✔ | ✔ |
Tidy up before you apply
A few small things can make a noticeable difference:
- Clear dishonours: avoid failed payments in the weeks before applying.
- Separate accounts: run business income through a business account.
- Check the PPSR against your business for old registrations that should have been discharged.
- Get current with IRD or have an arrangement in place.
If a family member is providing security
When someone else’s property is supporting your loan, they’ll need to be part of the process:
- their ID and details, as the property owner and usually as a guarantor;
- the property details and existing mortgage information;
- their own independent lawyer, separate from yours;
- a clear understanding of what happens if the loan isn’t repaid.
Raise this early. It takes time for a supporting party to get advice, and rushing them is neither fair nor wise.
If your business is a trust or partnership
- Trusts: have the trust deed available and details of all trustees. Lenders will want to confirm the trustees have power to borrow and give security.
- Partnerships: have a partnership agreement if one exists, and details of all partners. Each partner may be asked to sign.
- Companies with several shareholders: check whether your constitution or shareholders’ agreement requires approval for new borrowing or security.
How long does preparation take?
For most owners, gathering the basics takes an hour or two: finding the NZBN, downloading bank statements, locating the property’s rating valuation and the latest mortgage statement. The slowest items are usually legal: getting a lawyer engaged and, for trusts or supporting parties, collecting signatures. Start those conversations the same day you enquire and you’ll remove the most common source of delay.
What not to worry about
You don’t need a polished business plan, a slide deck or a perfect credit file to start the conversation. You need the facts, honestly presented.
Ready?
Our enquiry takes about 60 seconds and doesn’t affect your credit score. A lending specialist will call to go through the details and tell you exactly what’s needed for your situation.