Can I get a business loan with no trading history?

Realistic NZ funding paths for pre-revenue founders

1. Personal-asset-secured business loan. Pledge residential property or term deposits; bank lends against the security and the funds go to the business. Most accessible path for founders with property.
2. Specialist startup / pre-revenue lender. Some NZ alternative lenders explicitly underwrite businesses with limited or no trading history. Smaller amounts, higher rate, faster decision.
3. Government grants. Callaghan Innovation R&D, Regional Business Partner co-funding, Te Pūnaha Hihiko innovation grants. Typically cover a percentage of qualifying spend, not the whole need.
4. Equity investment. Angel investors or seed VC funds. Trades cost (control + dilution) for capital that doesn't need to be repaid on a fixed schedule.
5. Friends and family debt. Often the bridge to the first 6–12 months of trading history. Document properly to avoid disputes later.

What lenders look at when there's no trading history

• Founder credit profile. Personal Equifax / Centrix / illion file is the primary credit signal.
• Founder experience. Industry experience, prior business success, relevant qualifications.
• Personal asset position. Net worth (especially equity in residential property) drives loan size and pricing.
• Business plan + forecasts. 24–36 months of monthly P&L + cash-flow forecasts; clear narrative on revenue model + key risks.
• Co-borrowers / guarantors. A creditworthy co-borrower (e.g., a parent or partner) materially expands options. Get legal advice before involving anyone.