Business Loan Interest Rates NZ
Compare current business loan rates from New Zealand's leading lenders. Get the most competitive rates for your business financing needs.
Rate Disclaimer: Rates shown are indicative ranges as of January 2025. Actual rates vary based on individual circumstances. Click "Check Current Rates" for up-to-date pricing.
Current Rate Ranges by Loan Type
Secured Business Loans
5.95% - 12.95%
Loans backed by business or personal assets, offering the lowest rates
Unsecured Business Loans
8.95% - 24.95%
No collateral required but typically higher interest rates
Equipment Finance
6.25% - 16.95%
Asset-backed loans where the equipment serves as security
Business Overdraft
9.95% - 21.95%
Flexible credit facility with interest only charged on amounts used
Invoice Finance
2.5% - 6% (monthly)
Short-term funding based on outstanding invoices
Compare Rates from Top NZ Lenders
ANZ Bank
Loans: 10,000 - $5,000,000
Indicative rates p.a.
- Competitive rates for established businesses
- Relationship pricing available
- Fast online application
ASB Bank
Loans: 10,000 - $3,000,000
Indicative rates p.a.
- Flexible repayment options
- 7-day application approval
- No application fees
Westpac
Loans: 15,000 - $10,000,000
Indicative rates p.a.
- Established business focus
- Asset-backed lending
- Relationship manager support
Kiwibank
Loans: 5,000 - $2,000,000
Indicative rates p.a.
- NZ-owned bank
- Flexible loan terms
- Local decision making
Heartland Bank
Loans: 10,000 - $1,000,000
Indicative rates p.a.
- Specialist business lender
- Fast approval process
- Flexible criteria
Prospa
Loans: 5,000 - $300,000
Indicative rates p.a.
- Online application
- Fast funding (24-48hrs)
- No early repayment fees
What Affects Your Business Loan Rate?
Credit History
High ImpactStrong business and personal credit scores can reduce rates by 2-5%
Business Age
High ImpactBusinesses operating 2+ years typically qualify for better rates
Annual Revenue
Medium ImpactHigher revenue businesses often receive preferred pricing
Loan Security
High ImpactSecured loans typically offer rates 2-4% lower than unsecured
Loan Amount
Medium ImpactLarger loans often qualify for better rates and terms
Industry Type
Medium ImpactSome industries are considered higher risk and may face rate premiums
Bank Loans vs Alternative Lenders: What's the Difference?
Traditional Banks
✅ Best For:
Established businesses (2+ years), strong credit (750+), $50K+ loans
💰 Rates:
5.95% - 12.95% p.a. (lowest rates available)
⏱️ Timeline:
2-6 weeks approval, extensive documentation required
📋 Requirements:
- 2+ years trading history
- Strong financial statements
- Excellent credit history
- Detailed business plan
- Security often required
Alternative Lenders
✅ Best For:
Startups, challenged credit, urgent funding, declined by banks
💰 Rates:
8.9% - 24.9% p.a. (higher rates, more accessibility)
⏱️ Timeline:
24-48 hours approval, minimal documentation
📋 Requirements:
- 6+ months trading (some startups accepted)
- Basic financial information
- Lower credit score tolerance
- Revenue-based decisions
- Often unsecured options
Been Declined by Banks?
Don't give up! Many successful businesses use alternative lenders when banks say no. Alternative lenders focus on your business performance and cash flow rather than just credit history and paperwork. While rates are higher, they can provide the funding you need to grow and build the credit history banks want to see.
Tips to Secure Better Business Loan Rates
- Maintain strong business and personal credit scores (750+)
- Prepare detailed financial statements and business plans
- Consider offering security or collateral where possible
- Build relationships with multiple lenders
- Compare multiple offers before accepting
- Work with a business finance broker for expert guidance
Ready to Compare Business Loan Options?
Get personalized loan recommendations and connect with the right lenders for your business needs.