Got some questions?

If you’re looking for business finance you’re bound to have some questions. Here are the answers to common questions we’re asked. But don't hesitate to call to discuss your exact requirements on 0800 SPINACH (0800 774 622).

Who are Spinach Business Loans?

We are a Kiwi-owned, family-run business who believe in great quality service and genuinely want to help our clients’ businesses reach their goals. With ample experience in the business loans market we’re confident that we can prepare a financial package that will meet your needs and more. We think we’re New Zealand’s friendliest, most approachable business loan brokers, so send us a note, apply for a loan or call us on 0800 774 622 to find out more.

What do Spinach Business Loans do?

While there is no silver bullet for obtaining instant finance, there are things you can do to speed the process up. In our experience, we have obtained same day and next day pay-outs. To help yourself achieve this we recommend:

  • Working with a broker who knows which lender will fit your situation so you are applying to the right lender the first time.
  • Responding to requests from your broker promptly.
  • Be open about any credit issues on your name. it doesn’t necessarily prevent you from obtaining a loan, but it means that we know which lender will be more likely to assist, saving time applying to lenders who won’t look at credit issues.
  • Be open about who else you have applied with. This saves numerous applications to the same lender via various channels (which slows the process down), and helps us identify the best solution for you early on.

What is the minimum deposit for a Business Loan?

While there is no Reserve Bank LVR restriction for buying a business the way there is for home lending, lenders do usually require a deposit when planning to buy a business. As a guide, lenders in the tier 2 space prefer 30-50% but there are a number of variables that come into those calculations, including how much equity you have in your personal assets and what your cashflow is like. It is worth calling us for a confidential discussion before applying so we can help you get ready to go to the lender with your best foot forward.

Can I get a Business Loan with no money down

When buying a business, lender will take into account your overall financial position. What other income do you have? What is your credit profile like? Do you have strong personal assets? There isn’t exactly a strict answer to whether or not you can obtain 100% finance or not, but the bigger picture comes into the decision by the lender. Call us for a confidential discussion about your personal situation and we will let you know if we have a lending solution for your needs.

Do you need a business to get a Business Loan?

Business loans can be obtained by people who are sole traders, self-employed, starting a business, and most other business functions. The funds cannot be used for personal spending purposes. We do, however, have finance solutions that can be used for personal reasons so do call to discuss your situation and we will see if we can find a solution for your needs.

Can you get a Business Loan without a job?

One of the key things a lender will do when assessing a loan application, is calculating the affordability of the loan based on the income available to you. If you want to start a business without an income, you could consider a business partnership with someone who is in stable employment, or working part time while starting your enterprise. You need to ensure you can repay the loan in the event your winning idea isn’t successful.

How are Spinach Business Loans paid back?

There are a number of different business loan products in the market, all with differing repayment styles.

  • Revolving credit loans, where the cashflow of the business flows in and out of the facility and interest is paid only on the amount owing.
  • Then there are invoice financing options where a lender pays you most of the value of your debtor invoice on day one and the lender is repaid on the invoice due date by your debtor. The lender then releases the balance of the invoice to you, less their fee, once they have been paid.
  • Term loan products, where there is a set amount payable at a set frequency for a set period of time, providing predictability.
  • Finally, there are loan facilities where you draw down a loan and don’t repay the principal or interest until an agreed date where all sums are repaid in full.

Call for a confidential discussion with one of our consultants and we will help identify which loan products will suit your business the best.

Who Can Get a Loan to Buy a Business?

Generally speaking, anybody who has their head screwed on can get a loan to buy their own business. Everyone starts somewhere, so if you have a good opportunity, there will be someone willing to loan you the money to get started.

Trust us when we say every single situation is different — which means there is no one-size-fits-all solution for getting a loan to buy a business. For this reason, we take real pride in sitting down with our clients to nut out something that really works for them.

Every facet of your life and business will be different to the next person, so it’s important we get the whole picture to help your garden grow. By and large, the main things we’ll figure out are your credit profile, your income streams, and your personal assets. From there, we’ll explore every avenue to find something that works for you.

Whether you know exactly what you want, or you have a million questions, we’re here to help. Give us a buzz on 0800 774 622 during business hours, or email anytime.

What Is the Process for Getting a Loan to Buy a Business?

Honestly, for something as life changing as buying your own business, applying for a loan to buy a business is remarkably simple:Honestly, for something as life changing as buying your own business, applying for a loan to buy a business is remarkably simple:

  1. Apply online from this page, or call us on 0800 774 622. Either way, it’ll be five minutes, tops.
  2. Our team will go over your application ASAP. We make a point of trying to get back to you the same day.
  3. Put pen to paper, sign on the dotted line, and get your funds in as little as 24 hours.
  4. You are now the proud owner of your own business!

If it sounds like we’re being a bit cheeky, we promise it can actually be that simple. If you have everything in order, you can have your loan to buy a business super-quick. As always, any solution needs to be tailored just for you, so give us a on 0800 774 622 during business hours, or email anytime to find out more.

How Quickly Can You Get a Loan to Buy a Business?

If you’re in a real rush, and you already have all of your ducks in a row, in some cases we can get you a loan to buy a business within a day. Naturally though, lots of things need to go smoothly for that to happen:

If you’re in a real rush, and you already have all of your ducks in a row, in some cases we can get you a loan to buy a business within a day. Naturally though, lots of things need to go smoothly for that to happen:

  • You’ll have to be able to respond to your Spinach loan specialist ASAP.
  • You’ll need to be completely open and honest about your financial situation, so we don’t have any hiccups.
  • Let us know if you’ve already applied for a loan to buy a business elsewhere, so we can focus on the places you didn’t approach.

Again, with all things growing a fruitful business garden, there are lots of things to consider. If you want to see how quickly you could get a loan to buy a business, call us on 0800 774 622, or email

Secured and Unsecured Lending — Can You Buy a Business With No Money?

We’ve seen this many times before — the opportunity to buy a great business falls on someone’s lap, but they don’t have the cash or assets on hand to take advantage of the offer.Thankfully, we’re pretty good at what we do (if we do say so ourselves), and we can almost always come up with a solution that’s fast and fair.

If you have assets like a home or a car you are willing to put up as collateral, then a secured loan is a great solution for you. However, if you don’t have assets like that, or you simply don’t want to put them on the line for buying your business, we can help you out with an unsecured loan.

We can offer unsecured loans from between $10,000 to $500,000 to help you buy a business, which means there is no need to risk your hard-earned assets.

New Zealand is literally one of the best places on earth to own your own business, and we reckon part of the reason for that is how simple it is to get funding to buy a business. At Spinach, we’re proof of that, with our huge range of flexible options that can help you own your own business.

Whether you’ve got heaps of money on hand or none at all, contact us now on 0800 774 622 or for a zero-obligation chat.

Why Choose Spinach for Getting a Loan to Buy a Business?

We love helping Kiwis kick goals in life and business, so we really enjoy the one-on-one approach. We’re not a big bank, and you don’t need to dress up in your business-best to impress us.

We’re a Kiwi-owned, family business looking to help other Kiwis get their own businesses — it’s a pretty simple idea, and we like to keep it that way. By focussing on helping fellow New Zealanders create their own business opportunities, we’ve been able to become really, really good at what we do.

This means we’ve built up a huge network of New Zealand’s best lenders so that we can get our customers the best deals out there. We pride ourselves on being able to negotiate hard on your behalf, but still be super-friendly and approachable to you.

But don’t just take our word for it. See what our satisfied customers have to say about working with us.

If you need to know anything, and we mean anything about getting a loan to buy a business, call us now on 0800 774 622 or for a no-obligation chat.

How do I get a business loan?

Working with Spinach makes the process a lot easier for you. One of our lending specialists will take the time to go through your application with you, as well as your specific situation, and then work on your behalf to find the best fit business loan from our range of 25 financiers.

What do I need to show to get a business loan?

You need to show:

  • That your business can afford the loan repayments and if it can’t, that you can afford them personally
  • What industry your business is in
  • What other loans and debts your business has
  • Who the owners of the business are
  • What your account conduct is like by sharing the business’s bank statements

Do I need to own a home to get a business loan?

In short, no. There are situations where it is a requirement, such as if you are looking for a large loan for a startup or if you have poor history of repaying. But if your business is stable and you have good credit, then unsecured loans are possible up to $500,000. The amount you can get, and the length of the loan term depend on what size your business is and how long it has been established for.

For information specific to your situation, pick up the phone and discuss your goals with one of our specialists on 0800 774 622.

Why would I get a business loan?

A smart business loan can get you to your business goals faster than saving can. We consider a smart business loan to be one that makes more money than the cost of the loan.

An example would be taking out a loan so that you can take on extra staff. Presumably, the staff member will generate more income for the business than the cost of the loan to get that staff member set up.

On the flip side, if you spent all that time saving up to take on the staff member, then you need to make sure your savings are keeping up with inflation, and you miss out on the income that staff member could have been earning while you waited for your savings to grow.

Can I borrow for tax debt?

We need to understand the health of your business. If your business is thriving and you need support with the growth, then we can usually help with loans to pay IRD debt.

If your business is poorly managed and the IRD are chasing you then you should speak with your accountant to see what help they can provide.

What interest rates will I get?

We work with 25 business loan financiers and there are a wide range of interest rates depending on your situation. Rates start from 7%, but the rates you will be offered depend on which lender you need to use, what the risk of your credit is like, what security is on offer, and so on.

You should always project the cost of the money against the benefit of it in conjunction with your accountant to make sure all loan situations are the best fit for your business.

Request a call back to Overcome Unsecured Business Loans

Want a no-obligation chat about your company requirements? Ask us to call you! We want to hear all about your business idea as well as your business plan.

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Power up your business with a loan from Spinach

Flexible finance solutions for an ambitious business just like yours

  • Upgrade your space
  • Manage your cashflow
  • Hire more employees
  • Purchase inventory