The bank
Financial statements, a credit assessment, a valuation, a credit decision, then documents and settlement. A realistic plan is four to eight weeks from application to funds — longer if a document comes back with questions.
Lower quote. Slower money.
The cost of business loan delays is not on the quote
You have a quote that costs less than ours. Great. It is also four, six, maybe eight weeks away from money in the bank — and the business needs it now. Every month you wait has a price too. Put a number on it before you decide.
- Your figures, not ours
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60-second check Full calculator: price rises, penalties, making do →
What is the wait costing you?
Waiting$30,000
Finance$8,000
Waiting costs about $22,000 more than the whole loan.
Where the weeks go
A lower quote often comes with a longer queue
None of these is anyone doing anything wrong. They are just steps, and each one has its own queue. Add them up honestly and the date on the quote moves.
The lender that needs a valuation
The valuer has to be booked, inspect, write the report and send it back. If the figure lands lower than hoped, the deal gets re-worked. That can add a week or two before documents are even issued.
The broker who isn't sure
Plenty of brokers are excellent. But if yours can't tell you which lender, what's outstanding and the date the money lands, you're planning around a hope, not a date.
Price the wait, not just the loan
Two quotes. Two prices each.
Every quote has the price on the page — interest and fees — and a second price nobody writes down: what the business loses until the money arrives. Lost jobs, stock you can't sell because you don't have it, a supplier discount that runs out, penalty interest on a settlement, IRD stepping up action on a tax debt.
A quick illustration, using made-up round numbers: if the money would earn your business $15,000 a month and the lower quote is two months away, waiting costs $30,000. If the difference between the two quotes is $6,000, the lower quote is the dearer one by $24,000.
Why HomeSec can move this quickly
A direct lender that decides on the property
No bank queue
HomeSec is a direct lender and makes its own decision. There is no panel of lenders to shop the deal around.
No valuation wait
First and second mortgages. No valuations or cashflow records needed. The decision turns on the property, a genuine business purpose and a sensible way out.
Funded in as little as 24 hours
From $20,000–$1,000,000. Funding may be possible in as little as 24 hours, subject to approval, documents, security, legal work and settlement requirements.
One question
Have you already applied with HomeSec?
Not yet? The application takes a few minutes and a lending specialist calls you back.
Common questions
Is it worth waiting for a cheaper business loan?
Only if the wait costs less than the saving. Most people compare the two quotes and stop there, but the lower quote has a second price: everything the business loses while it waits. Put a monthly figure on the profit you would miss and multiply it by the weeks the slower loan will really take. If that number is bigger than the difference between the quotes, the lower quote is the dearer one.
How long does a bank business loan take to fund in New Zealand?
There is no single answer, and the turnaround a bank talks about is usually the time to a decision, not to money in the account. A secured business loan through a bank commonly involves an application, financial statements, a valuation, a credit decision and then legal documents and settlement, and each step has its own queue. Four to eight weeks from application to funding is a realistic planning figure for many borrowers.
Why does a valuation slow a loan down?
Because it is a booking with a third party. The lender orders it, the valuer schedules an inspection, writes the report and sends it back, and the lender reviews it. If the figure comes in lower than expected the deal is often re-worked. It can add a week or more before documents are issued.
My broker says the deal should get there. How do I know?
Ask three plain questions: which lender, what is still outstanding, and what date the money is expected. If the answers are vague, plan as if the wait will be longer than you have been told, and price that wait before you turn anything else down.
How fast can HomeSec fund?
Funding may be possible in as little as 24 hours, subject to approval, documents, security, legal work and settlement requirements. HomeSec is a direct lender, and for first and second mortgages no valuations or cashflow records are needed.
I've already applied with HomeSec. What do I do now?
Use the "Yes, I have" button on this page. It sends a short message to the person handling your application, matched by the email you applied with, so they can pick your file straight back up. Or call +64 9 888 6550 in business hours.