We provide microfinance loans to help start or grow your new business.

 

About our microfinance loans:

What loans do you offer?

We offer two types of microfinance loans for people who are unable to access funds elsewhere:

1) Start Up Loan - for setting up a new business

2) Scale Up Loan - for scaling up or growing an existing business

How much can I get? 
Up to $5,000 which is free from interest and fees.

After 6 months, or once the loan is repaid, you can apply for another $5,000 extension to the loan (Up to $10,000 in total). This will be dependent on your repayment history and business progress.

How much and when do I have to pay back the loan?
You will have a maximum of 24 months to repay the loan. Repayments will be made weekly or fortnightly to Ngā Tāngata Microfinance. We will work with you and your financial mentor to determine what is an affordable amount for you to repay and tailored to suit your circumstances.

What can I use my loan for?
Loans can be used for any costs related to setting up a business or business growth including:

  • Training courses, licenses, registration fees

  • Equipment and tools

  • Technical advisors / professional support
    (eg. accountant, lawyer, marketing consultant)

  • Marketing (branding, promotion, advertising)

  • Fixtures and fittings

  • Franchise license and fees

  • Health and safety license

  • Any other cost assessed on a case by case basis

How can I apply for a loan?
If your business is not yet launched, you will need to first complete the NEST Programme or be doing the SOAR Programme. Your business coach and financial mentor will help you to apply for a microfinance loan if you qualify.

If you have an existing business, you are welcome to submit your expression of interest here and we will contact you shortly.

Who can apply?

START UP LOAN

  • NZ permanent resident or has an open work visa

  • Resettled to NZ as a forced migrant / refugee or consider yourself an ethnic migrant facing disadvantage

  • Unable to access a loan from any mainstream lender (ie bank)

  • Has a low income

  • Has a willingness and can afford to make repayments

  • Has been living at the same address for the past 2 months

  • Has a NZ bank account

  • Has minimum third party vehicle insurance (if you own a vehicle)

  • Is currently doing or completed the SOAR Programme and has a letter of recommendation from your business coach

  • Has been a client of a budget service and met with a financial mentor for at least 2 months

  • Will have an ongoing business mentor

Who can apply?

SCALE UP LOAN

  • Is a registered company or sole trader 

  • Has been in operation for less than three years

  • Majority of owners are from a refugee or ethnic migrant-background 

  • Unable to access a small business loan from any mainstream lender, or is unsuitable (ie bank)

  • Has a low income (will be assessed upon application)

 

  • Has the capacity and willingness to make repayments

  • Willing to work with a business coach and financial mentor

  • Has minimum third-party vehicle insurance (if you own a vehicle)