Start with the situation, not the product
I need to…
Most people don't wake up wanting "a secured business loan". They wake up needing to pay a tax bill, buy a van or say yes to a big job. So that's how we've organised everything. Pick the sentence that sounds like you — each page explains your options in plain English, what a lender will ask, and the honest bit nobody else mentions.
1
Keep things ticking over
Everyday pressure on cash, tax and people.
- …cover a cash flow gap Business is fine on paper, but the money's all tied up in invoices and the bills are due this week. What do I do?
- …pay an IRD bill We've got a GST and PAYE bill we can't cover in full, and the letters from Inland Revenue are getting firmer. Can I borrow to pay it?
- …buy stock Summer's our big season and the supplier wants payment upfront for the spring order. Last year we ran out of our best sellers by December.
- …hire staff ahead of growth We're turning work away because there's not enough of us. If I hire two people now, it'll take a few months before they're paying for themselves.
2
Make a move
Buying, building and saying yes to bigger work.
- …buy equipment or a vehicle Our old van is dying and I've found a good second-hand one, plus we need a new machine for the workshop. How should I pay for it all?
- …take on a big contract We've just won the biggest job we've ever had. It's great news — except we need to buy materials and put on two more people before we see a cent.
- …renovate or fit out premises We've signed a lease on a bigger space in town. It's a bare shell, and the fit-out quotes are more than I expected.
- …buy a business I've found a cafe that's for sale and the numbers look good. I've got some savings and equity in our home, but I don't know how people actually fund these deals.
- …buy out a partner My business partner wants to step back and sell me their half. We're on good terms, but I don't have that kind of cash lying around.
3
Sort out the how
Security, credit history, speed and cleaning up old debt.
- …refinance expensive debt We've got a couple of short-term loans with daily repayments, a maxed-out card and some supplier arrears. Every week feels like we're just feeding the lenders.
- …borrow against my property We've got decent equity in our house and a rental. The bank's being slow about a business loan. Can I use the property some other way?
- …borrow without property We rent our home and the shop, so there's no property to borrow against. Is there anything for businesses like us?
- …get funding with bad credit A few years ago things went badly and I've got a couple of defaults on my file. The business is solid now, but every lender seems to say no straight away.
- …get funding fast A supplier's offered us a deal that ends Friday, and the bank said it'll take a few weeks. Is there anything quicker that isn't dodgy?
Not sure who to ask at all?
Read our honest comparison of banks, non-bank lenders and private lenders. Sometimes the right answer is your bank — and we'll tell you when it is.