What to have ready when you call a lender

The first call with a lender or broker should end with one of three things: a clear “yes, here’s how”, a clear “no, and here’s why”, or a precise list of what’s needed to decide. When it ends with “we’ll need to look into it”, it’s usually because the information wasn’t to hand.

This checklist is what our lending specialists wish every caller had on the desk in front of them. None of it is complicated. Most of it takes five minutes to find.

1. Who the business is

Lenders need to know exactly who they’re lending to. Have ready:

• The legal name of the business — the company name as registered, or your own name if you’re a sole trader.
• Your NZBN. Every company has one, and sole traders and partnerships can register for one. You can look it up on the NZBN register.
• Every director and shareholder (for a company), partner (for a partnership) or trustee (for a trust).
• How long you’ve been trading, and whether that’s under the current entity or a previous one.
• What the business does, in a sentence. “Commercial cleaning for offices in Wellington and the Hutt” is perfect.

If the business structure has changed recently — a sole trader who incorporated, a new shareholder — mention it. It explains why bank statements or IRD records might show different names.

2. What you need, and why

This is the part people most often leave vague, and it’s the most important. Three things:

• The amount. A real number, not “as much as possible”. If you’re not sure, see our guide on working out how much to borrow.
• The purpose. Paying out GST arrears, buying a van, bridging a big invoice, a fit-out. Lenders fund purposes, not wishes.
• The date. When do you actually need the money? What happens if it arrives a week later?

A caller who says “$48,000 to clear GST and PAYE arrears before the end of the month so we can tender for a council contract” will get a much more useful first call than one who says “we need some working capital”.

3. Recent business bank statements

For unsecured loans and lines of credit, bank statements are the main evidence. Even for property-secured loans, they help tell the story.

• Three to six months is typical; twelve if your business is seasonal.
• Every account business money touches — main trading account, a separate GST or tax account, a card settlement account, an online sales account.
• PDF exports from internet banking are generally fine. Some lenders use a secure retrieval service that connects to your bank with your permission.

Look through them yourself before sending. If there are dishonours, large unexplained transfers or loan repayments to lenders you’ve forgotten about, it’s better to explain them than to have a lender ask. Our guide on what lenders look for in bank statements explains what stands out.

4. Photo ID

Every lender in New Zealand has to verify identity under anti-money-laundering rules. Have a current New Zealand driver licence or passport for each director, owner or guarantor. Make sure the name and address match what’s on the business records, or be ready to explain why they don’t.

5. Property details, if property is involved

If you’re looking at a property-secured loan — from $20,000 to $1m against a home, rental, commercial property or land — have:

• The address.
• Who owns it — your name, joint names, a company or a trust. This matters because everyone on the title signs.
• A rough value. A recent valuation, a council rating valuation or a recent comparable sale is fine for a first conversation.
• What’s owing on any existing mortgage, and to which lender.
• Any other lending secured on the property, such as a revolving credit facility.

No financials or tax returns are needed for the initial assessment of a property-secured loan, so this list is often all that’s needed to get an indication.

6. Your repayment plan

Lenders always ask how the loan gets repaid. Have a one-line answer:

• “From trading — our monthly surplus comfortably covers it.”
• “A $120,000 retention payment is due in April.”
• “We’ll refinance to the bank once the FY26 accounts are finished.”
• “We’re selling the Tauranga section; it’s listed now.”

Short-term lending in particular is judged on the exit.

7. The things you’d rather not mention

It’s human to hope the awkward stuff won’t come up. It will. Mention it on the first call:

• Credit file issues — defaults, judgments, arrears. Our guide to checking your own credit report shows how to see what’s there.
• IRD debt — GST, PAYE, income tax, and whether there’s an instalment arrangement.
• Other lenders — any facilities not showing obviously on the bank statements.
• Anything unusual — a dispute, a past liquidation, a pending sale.

Specialists hear this every day. Knowing early means they can steer you to lenders whose criteria genuinely fit — bad credit, defaults and arrears are considered case by case for property-secured loans, and weaker credit is considered for some unsecured options.

What you don’t need for the first call

• Full financial statements. Useful if you have them, not essential to start.
• A business plan. A clear purpose and repayment plan is enough for most business loans.
• Tax returns. Not needed for the initial assessment of a property-secured loan.

A two-minute summary to write down

Before you dial, jot this on a notepad:

Business: name, NZBN, how long trading, what we do Need: amount, purpose, date Money in: average monthly turnover Property: address, owners, value, owing Repay by: trading / payment due / refinance / sale Heads-up: credit, IRD, other lenders

Then ring the Hotline, or request a call back and a lending specialist will call you.