Small business borrowers get approval in minutes, no interest charged

BNZ has unveiled a new unsecured lending option designed to help small businesses manage cash flow and growth, offering loan approvals in as little as three minutes.
The Merchant Flexi Loan provides up to $50,000 with no interest charges and a one-off flat fee, aiming to reduce the barriers for businesses needing quick finance.
The announcement comes as New Zealand’s small businesses face continued financial strain, with 42% unlikely to invest in new initiatives due to high interest rates, according to a 2024 Advantage Business survey.
Fast approvals based on actual sales data
According to Karna Luke (pictured), BNZ executive for customer products and services, the product is designed to be both rapid and adaptable.
“Our Flexi Loans give small businesses fast access to capital, without the need to provide paperwork like financial statements or business plans,” Luke said. “Instead, we use actual card sales data from the past 12 months to determine loan eligibility and calculate a personalised loan offer.”
He said eligible businesses can view their personalised offer, select a repayment rate, and receive a decision within minutes.
“Businesses can see their personalised offer, choose their preferred repayment rate and get a decision in minutes. Once accepted, funds are available within two business days,” Luke said.
Repayments flex with daily card sales
One key feature is the flexibility of repayments, which are set at a percentage of daily card sales – ranging from 10% to 30% – and deducted automatically.
“This means repayments are higher when sales are strong and lower when business is quieter, helping owners stay focused on operations with cash flow under control,” Luke said.
Waffle Haus uses Flexi Loan to launch new café
Christchurch-based café chain Waffle Haus is one of the early adopters. Owner Jamie Stewart used the Merchant Flexi Loan to support the brand’s expansion into a third location at The Colombo shopping centre.
“A lot of prep goes into opening a new location – it takes about a year to get everything in place,” Jamie said. “When the Merchant Flexi Loan became available, the timing was perfect because I was looking at a significant equipment investment for the new café and wanted to preserve working capital for other business needs.”
For Stewart, the ability to secure funding based on existing sales data – rather than personal or property assets – was a key advantage.
“The fee worked out at about 2.5% of the loan amount, which is really good value and substantially cheaper than a traditional business loan,” he said.
With trade peaking during holidays and quieting in winter, Stewart values the repayment flexibility.
“The winter period is slightly quieter for us than the summer and school holiday peaks,” Stewart said. “Having repayments that flex with our natural business rhythms makes financial planning much easier.”
A smarter solution for fast-moving businesses
Luke said BNZ developed the loan with speed and simplicity in mind.
“Our customers tell us they need to move fast to stay competitive and grow, whether that’s securing new equipment, expanding their premises, or taking advantage of seasonal demand,” he said. “By streamlining the application process and using data we already have, we can help them seize those opportunities without delay.
“It’s about bringing together speed, simplicity and flexibility to make it easier to move quickly when opportunity knocks. We’re proud to be the first New Zealand bank to offer a lending solution like this.”