What is a Business Loan or Business Asset Finance?

What is a Business Loan or Business Asset Finance
A business loan or business asset finance are generally fixed term and fixed interest rate finance. A business loan can be secured or unsecured. Asset finance is secured off an asset. Both tpyes of loan can be approved for a period of 1 month to 7 years.

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Business loans are a type of funding that businesses can use to finance their operations or invest in new ventures. In New Zealand a business loan or business asset finance can be obtained from banks and non-bank lenders. They are typically paid back over a set period of time with interest.

There are many types of business loans, including term loans, lines of credit, and equipment financing. The type of loan a business chooses will depend on their specific needs and financial situation. Each business loan lender will have specific criteria an applicant must meet in order to be approved for finance.

Business asset finance, on the other hand, is a type of funding that allows businesses to purchase assets, such as equipment or vehicles, without having to pay the full cost upfront. Instead, the asset is purchased on credit and paid back over time with interest.

If your business is in a growth period or has secured a new contract and your workload will increase, asset finance is a great way to service the new work straight away. When you apply generally you may need to include a cashflow forecast to show a revenue increase and also a letter of intent or contract from your new contractor.

Asset finance can take many forms, including lease agreements, hire purchase agreements, and chattel mortgages. Each of these structures has its own advantages and disadvantages, and the best option for a particular business will depend on their specific needs and financial situation.

If you’re unsure on the steps to take when applying for a business loan or asset finance, speak with a business loan broker who can give you assistance on what is required when you apply and which lenders in New Zealand you can apply with.

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Business loan lenders in New Zealand

We are partnered with multiple business loan lenders throughout NZ. Each lender provides different types of business loans and will offer different rates for small business loans depending on your business’ financial situation and financial history.

Heres a few lenders we work with and their basic lending criteria.

Get capital small business loans

Fast flexible business finance

• Loans from $5000
• Minimum 9 months trading
• Unsecured to $50k
• 10k or more monthly revenue
• Cashflow, asset, equipment finance

Heartland bank small business loans

Give your business a boost

• Unsecured up to $100k
• Terms up to 5 years
• Secured loans available
• No early repayment fees
• Interest rates from 11%

Fundtap invoice finance nz

Invoice Finance

• 100% online
• Loan off your outstanding invoices
•Funds in 24hrs
• Fast source of cashflow
• Use it when you need it

Pioneer Finance NZ

Your loan, tailored to you

• 100% online application
• Loan terms up to 7 years
• Secured finance
• Finance up to $100k
• Business finance for any reason

efco small business finance nz

We Finance Dreams

• 100% online
• From 8.95%
•Decision in 24hrs
• Startup business loans
• Vehicle finance, asset finance, cashflow loans

Speirs Finance NZ

The kiwi owned team growing kiwi businesses

• Truck Finance
• Repayment up to 5 years
• Heavy Machinery Finance
• 2nd hand asset finance
• Equity Release

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As a business loan broker, we are essentially an extension of your business. When you work with us, we do all the hard work for you by preparing your application and matching you with an NZ lender most likely to approve your business loan application. Get Started Now!

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