Bank loan alternatives of up to $250,000 for New Zealand businesses

Discover a flexible and unsecured alternative to a bank loan for your business. whether it`s growing or already well established

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Alternatives to bank loans for businesses in New Zealand

The internet has brought huge change to the business loan landscape in New Zealand. The days when traditional bank loans were the main source of finance are long gone and alternative lending is on the increase.

Today the alternatives to bank loans include crowdfunding, Peer-to-Peer lending (P2P), venture capital, business angels and various forms of asset-based lending and invoice finance.

Many of these newer forms of business funding rely on the internet to connect lenders with potential borrowers. Some are also taking the opportunity to apply the benefits of digital technology to their entire finance solution.

Alternatives to bank loans for businesses in New Zealand

The internet has brought huge change to the business loan landscape in New Zealand. The days when traditional bank loans were the main source of finance are long gone and alternative lending is on the increase.

Today the alternatives to bank loans include crowdfunding, Peer-to-Peer lending (P2P), venture capital, business angels and various forms of asset-based lending and invoice finance.

Many of these newer forms of business funding rely on the internet to connect lenders with potential borrowers. Some are also taking the opportunity to apply the benefits of digital technology to their entire finance solution.

What are the alternatives to bank loans for businesses?

  • Venture capital

    Venture capital comes from a business that makes loans to other businesses in return for a share in ownership. The people behind these businesses are usually successful entrepreneurs and they often give business advice along with the finance

  • Peer-to-Peer lending (P2P)

    Peer-to-Peer lending allows private investors to contribute into a pool of funds from which businesses borrow. Now a popular form of alternative business finance, P2P has been made easier and more accessible by the internet.

  • Crowdfunding

    Crowdfunding is also powered by the internet. Individuals typically pay smaller amounts towards specific projects in return for a reward rather than monetary gain

  • Business angels

    An individual who invests in a business in return for a share of the ownership is a business angel. Like venture capital, this approach to funding often includes advice from the angel investor

  • Asset finance

    Raising working capital by releasing the value tied up in an asset isn’t new. However, the internet has made this much easier for businesses and there are now many different forms of asset finance

Spotcap unsecured finance as an alternative to bank loans

Spotcap is an alternative loan provider that sits between traditional banks and other suppliers of business funding. Our finance solution is a combination of a line of credit and a business loan that makes full use of digital technology.

We assess loan applications using our unique, proprietary risk analysis algorithm which looks at current business performance. This allows us to provide unsecured loans to businesses that may be turned down for traditional bank loans, despite being in good financial shape.

Because our approach to business loans is so flexible, it is proving popular across many different industries including manufacturing, retail, hospitality and healthcare. It’s a versatile alternative to traditional bank loans and overdrafts.

* These are genuine reviews from Spotcap customers in Australia.

The key facts about a business loan from Spotcap

  • Loan amount

    Your business can benefit from an alternative business loan of between $10k and $250k
  • Loan terms

    An alternative loan from Spotcap begins as a line of credit. Draw down what you need and it becomes a business loan, usually repayable over 1 to 12 months
  • Criteria to qualify

    Spotcap alternative finance is available to businesses who have been operating in New Zealand for at least 18 months, are registered in New Zealand, have a minimum turnover of $200k and have a New Zealand online bank account
  • Interest rates

    The interest rate on your alternative business finance will reflect market conditions and your recent business performance. Use our business loan calculator to estimate the interest rate and monthly repayments

Business loan repayment calculator

  • Amount
    $125,000
  • Time
    6 months

$14,951

Monthly Repayment

For illustrative purposes only. The example shown above is based on an average Spotcap customer. We base our decisions on several criteria and loans can only be granted to borrowers who can afford repayments. For more information about responsible lending click here or contact us directly.

Monthly Repayment

$14,951

  • Amount
    $125,000
  • Time
    6months
For illustrative purposes only. The example shown above is based on an average Spotcap customer. We base our decisions on several criteria and loans can only be granted to borrowers who can afford repayments. For more information about responsible lending click here or contact us directly.

How to apply for your bank loan alternative from Spotcap

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Sign up

Apply for an alternative loan by firstly entering your basic personal and business information

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Complete the application

To finalise your loan application, give us read-only access to your accounting software, or alternatively upload financial reports and bank statements

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Get approval

Once approved, you’ll typically have access to your alternative loan funds within one working day