Hitting “submit” on a finance enquiry can feel like dropping a letter into a void. It shouldn’t. Here’s exactly what happens next when you enquire with LendFriend — and what generally happens with any business lender in New Zealand — so you know what to expect at each step.
Step 1: You tell us what you need (about 60 seconds)
Our enquiry form asks a few simple questions: what the money’s for, roughly how much, a little about your business, and whether property is part of the picture. It takes about 60 seconds and doesn’t affect your credit score.
You don’t need documents at this stage. Just an honest outline.
Step 2: A lending specialist calls you back
Someone from our team calls to have a proper conversation — the kind you’d have with a friend who knows lending. Expect questions like:
- What’s the money for, and when do you need it?
- How’s the business trading at the moment?
- Is there property you or a supporting party own?
- Any credit history or tax debt we should know about?
- How are you planning to repay?
This is the most important step. The more openly you talk, the better the match. And it’s a two-way conversation: ask us anything.
There are no wrong answers on this call. Defaults, tax arrears, messy books — we’ve heard it all, and knowing upfront means no surprises later.
Step 3: We look at your situation and match you
Based on the conversation, we work out which type of funding fits and which lender on our panel is best placed for your situation. That might be:
- an unsecured business loan or line of credit, assessed on turnover and bank statements;
- a property-secured business loan from $20,000 up to $1m, as a first or second mortgage;
- or, occasionally, no loan at all — if we think borrowing isn’t the right answer, we’ll say so.
We’ll explain why we think that option suits you before anything goes further.
Step 4: The lender assesses your application
With your go-ahead, the application goes to the lender. What they need depends on the type of loan.
| Unsecured | Property-secured |
|---|---|
| Recent business bank statements | Property details and ownership |
| ID for directors or owners | ID for all owners and borrowers |
| Credit check, with your consent | Credit check, with your consent (bad credit considered case by case) |
| Details of existing debts | Existing mortgage details |
| Often a registered valuation | |
| No financials or tax returns for the initial assessment |
Our paperwork checklist has the full list.
A credit check is only run with your permission, at this stage — not when you first enquire.
Step 5: A decision and an offer
For unsecured lending, decisions can sometimes be made the same day. Property-secured loans take a little longer because of valuations and legal checks.
If approved, you’ll receive an offer or loan agreement. This is where you slow down. Check:
- the amount you’ll actually receive;
- the total repayable, including all fees;
- the repayment schedule;
- security and guarantees;
- early repayment and default terms.
Our 10 things to check before you sign is designed for exactly this moment. We’ll walk you through the offer in plain English too.
Step 6: Legal advice and signing
For property-secured loans and personal guarantees, lenders commonly require borrowers, guarantors and property owners to get independent legal advice. Your lawyer explains the documents, answers questions, and signs a certificate confirming the advice was given.
It’s worth taking seriously, not just ticking off. Bring your questions.
Step 7: Settlement — the money arrives
Once everything is signed and any conditions are met, the loan settles:
- funds are paid to your account, or directly to whoever you’re paying (IRD, a vendor, existing creditors being refinanced);
- for secured loans, the mortgage is registered against the property.
With property-secured lending, funding is possible within 24 hours of approval in some cases, depending on how quickly documents are signed and legal work is completed.
Step 8: Repayments and your exit
Repayments begin as set out in your agreement. For short to medium term loans, keep your exit plan front of mind — whether that’s repaying from cash flow, selling an asset or refinancing to a longer-term lender. Our exit planning guide helps.
If anything changes — a delay, a setback, a better opportunity — talk to your lender early. Early conversations nearly always go better than late ones.
How long does the whole thing take?
It depends on the loan type and how quickly documents come together. Unsecured options can be very quick. Property-secured options depend on valuation, legal work and signing, but can move fast when everyone’s organised. The biggest variable is usually paperwork, which is why having it ready matters.
Ready when you are
The first step is the easiest. Start your enquiry — it takes about 60 seconds, costs nothing, and doesn’t affect your credit score.
And if you do need funding…
That's where we come in. Tell us what's going on and we'll match you with a lender from our panel that fits — and tell you honestly if borrowing isn't the right move.
Quick questions
Will I be pressured to accept an offer?
No. Enquiring is free and you're under no obligation. You can ask questions, take time to read, get advice, or decide not to go ahead.
What if I'm declined?
We'll tell you honestly why, if we can, and whether another option on our panel might fit — or whether it's better to wait and strengthen your position first.