ANZ Business Loans: Complete Independent Review 2025
Real rates, strict requirements, and better alternatives. Everything you need to know about ANZ business finance.
Overall Rating
Rates From
Approval Time
Min Revenue
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ANZ Business Loans Overview
What ANZ Offers
Term Loans
$10K-$3M, 1-7 years, secured or unsecured
Business Overdrafts
$5K-$500K credit line, flexible access
Equipment Finance
Up to 100% equipment value, competitive rates
Commercial Property Loans
Investment and owner-occupied property
Quick Facts
Best Suited For:
- Established businesses (2+ years)
- High revenue ($300K+ annual)
- Excellent credit history
- Existing ANZ customers
- Businesses wanting lowest rates
ANZ Business Loan Rates & Fees
⚠️ Rate Reality Check
ANZ's advertised "from" rates only apply to their best customers. Here's what most businesses actually pay:
| Loan Type | Advertised From | Typical Range | Most Customers Pay |
|---|---|---|---|
| Secured Term Loan | 5.5% | 5.5-10% | 7.5-9% |
| Unsecured Term Loan | 8.5% | 8.5-15% | 10-12% |
| Business Overdraft | 8.9% | 8.9-18% | 12-15% |
| Equipment Finance | 6.5% | 6.5-12% | 8-10% |
Additional Fees
Cost Example
$100,000 Term Loan (3 years, 8.5% rate)
⚠️ Hidden Costs
- Relationship banking requirements
- Minimum account balances
- Transaction fee increases
- Insurance requirements
ANZ Business Loan Requirements
🔒 Strict Eligibility Criteria
ANZ is one of NZ's strictest business lenders. Only ~25% of applications are approved.
Minimum Requirements
Trading History
2+ years of continuous trading (exceptions rare)
Annual Revenue
$300,000+ (most approvals over $500K)
Credit Score
650+ personal credit score (700+ preferred)
Financial Health
Profitable for 2+ years, positive cash flow
Security
Often required for larger loans ($100K+)
Required Documentation
Financial Statements
3 years of audited or reviewed accounts
Management Accounts
Latest month-end figures
Tax Returns
3 years business & personal returns
Bank Statements
12 months business, 6 months personal
Cash Flow Projections
12-month forward projections
Business Plan
Detailed use of funds
💡 ANZ Preferences
- Existing ANZ business banking customers
- Conservative industries (avoid high-risk sectors)
- Strong management team
- Asset-rich businesses
- Clear growth strategy
ANZ Approval Process Timeline
Initial Application
2-3 days
Document Review
1-2 weeks
Credit Assessment
1-2 weeks
Final Approval
3-5 days
Total Time: 2-6 weeks (can be longer for complex applications)
ANZ Business Loans: Pros & Cons
✅ Pros
Lowest Rates
Among NZ's cheapest business loan rates for qualified borrowers
Large Loan Capacity
Can lend millions for established businesses
Stability & Reputation
185 years in NZ, strong financial backing
Full Banking Services
Complete business banking relationship
Flexible Repayment
Various repayment structures available
Relationship Benefits
Better rates for existing customers
❌ Cons
Strict Requirements
High barriers to entry, many businesses don't qualify
Slow Approval Process
2-6 weeks minimum, not suitable for urgent needs
Extensive Documentation
Mountains of paperwork required
Rigid Criteria
Little flexibility for unique situations
Additional Fees
Various establishment and ongoing fees
Banking Relationship Required
Often need to move all banking to ANZ
What Customers Say
Satisfied with rates
Frustrated with approval time
Would recommend to established businesses
Better Alternatives to ANZ Business Loans
🎯 Why Consider Alternatives?
If you don't meet ANZ's strict criteria or need faster approval, these alternatives offer better options for most small businesses:
Similar Banks (Better Approval Rates)
| Bank | Rate From | Min Revenue | Approval Time | Advantage vs ANZ |
|---|---|---|---|---|
| ASB Business | 6.0% | $250K | 1-4 weeks | Faster, lower min revenue |
| Kiwibank | 6.5% | $200K | 1-3 weeks | More flexible, NZ-owned |
| BNZ Business | 5.8% | $500K | 2-5 weeks | Similar rates, industry expertise |
Non-Bank Lenders (Faster & More Flexible)
| Lender | Rate From | Min Revenue | Approval Time | Key Advantage |
|---|---|---|---|---|
| Scottish Pacific | 7.5% | $200K | 3-7 days | 10x faster approval |
| Flexi Group | 8.5% | $100K | 1-5 days | Much lower requirements |
| UDC Finance | 8.9% | $150K | 2-5 days | Equipment finance specialist |
Alternative Lenders (For Urgent Needs)
Best for: Businesses that can't wait 2-6 weeks or don't meet ANZ's strict requirements
| Lender | Rate From | Min Trading | Approval Time | When to Consider |
|---|---|---|---|---|
| Zip Business | 15% | 9 months | 24 hours | Urgent funding needs |
| Become Finance | 12% | 12 months | 48 hours | Revenue-based lending |
Which Option Should You Choose?
Choose ANZ If:
- You meet all requirements
- You want lowest possible rates
- You're not in a hurry
- You're already an ANZ customer
- You need a large loan ($500K+)
Choose Other Banks If:
- You want similar rates but faster
- ANZ rejected your application
- You prefer more flexible criteria
- You want better customer service
- You value NZ ownership (Kiwibank)
Choose Alternatives If:
- You need funding urgently
- Your business is under 2 years old
- Your revenue is under $300K
- You have credit issues
- Banks keep rejecting you
Business Loan Calculator
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ANZ Business Loans FAQ
What are ANZ business loan interest rates?
ANZ business loan rates start from 5.5% for secured loans and 8.5% for unsecured loans. Actual rates depend on your credit profile, loan amount, and business financials. Most small businesses pay 7-12% with ANZ.
What are ANZ business loan requirements?
ANZ requires: 2+ years trading history, minimum $300K annual revenue, credit score 650+, comprehensive financial statements, and often existing ANZ banking relationship. They have stricter criteria than alternative lenders.
How long do ANZ business loan approvals take?
ANZ business loan approvals typically take 2-6 weeks. Pre-approval can be faster (1-2 weeks) but final approval requires extensive documentation review and credit assessment.
Do I need to bank with ANZ to get a business loan?
While not officially required, existing ANZ customers get preferential treatment and better rates. New customers often need to move their business banking to ANZ as part of the loan process.
What if ANZ rejects my business loan application?
If rejected, wait 6+ months before reapplying. Consider improving your credit score, revenue, or exploring non-bank lenders with more flexible criteria like Scottish Pacific or Flexi Group.
Can I get an unsecured business loan from ANZ?
Yes, ANZ offers unsecured business loans from 8.5%, but they require excellent credit and strong financials. Secured loans offer better rates and approval chances.
Don't Limit Yourself to Just ANZ
Compare ANZ with 50+ other lenders to find your best option. Many businesses get better deals elsewhere.
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