Global Finance

Global Finance business loan eligibility and documents

There is no single qualifying checklist across the lenders Global Finance may approach. Its business page does not specify universal minimum turnover, trading history or credit-score thresholds.

The published document checklist includes:

• Accountant-prepared financial statements and cash-flow projections.
• A business sale and purchase agreement, where applicable.
• The premises lease, where relevant.
• A business plan, particularly for a new venture.

Global Finance’s privacy policy also covers collecting identification, bank statements and other financial information, and obtaining credit information. Ask which documents and checks apply before submitting a complete application.

Affordability check: Test repayments against cash remaining after wages, tax, operating expenses and existing debt. A profitable annual forecast can still conceal months when invoices arrive too late to meet repayments.

Who should consider this business finance service?

Our assessment is that Global Finance is most relevant when you need help comparing borrowing structures, preparing a funding proposal or deciding which assets to offer as security.

Reconsider borrowing if it would repeatedly cover operating losses without a credible recovery plan. For equipment, compare asset finance with a general business loan; for a temporary cash-flow gap, ask whether an overdraft or invoice-finance facility better matches the timing of receipts. Compare other business finance options using the same amount and repayment period.

Property security changes the risk: A lower rate may expose your home to business debts. Compare the interest saving with the consequences of default, and obtain independent legal advice on mortgages and personal guarantees.

How to apply through Global Finance

Enquiry, assessment and lender offer

Contact Global Finance through its official enquiry page, call 09 255 5500 or email info@globalfinance.co.nz. Explain the amount, purpose, required date and available security.

Before authorising lender submissions, request the adviser’s scope of service and fee terms. Establish which lenders will receive your information and when credit checks will occur. Global Finance’s privacy policy permits information sharing with lenders, credit-reporting agencies and relevant service providers.

Compare any written offer before signing. An enquiry or conditional approval is not confirmation that funds are available: outstanding conditions and settlement arrangements still matter.

How long does approval take?

Global Finance indicates approximately 2–3 weeks for an outcome, depending on lender and complexity. This is an estimate, not a funding deadline.

Repayment difficulties and complaints

If repayments become difficult, contact the lender promptly and ask Global Finance whether it can assist with discussing options. Get any revised schedule and additional cost in writing.

For complaints about Global Finance’s service, email complaints@globalfinance.co.nz. Its procedure targets acknowledgement within two working days and resolution within 10–15 working days, with updates if more time is needed. Unresolved complaints can be referred to Financial Services Complaints Limited on 0800 347 257, subject to the scheme’s jurisdiction. Complaints about the lender should follow that lender’s process.

Questions to ask before signing

• Which lender is offering the facility, and which alternatives were considered?
• What are the annual interest rate, repayment schedule, total repayments and all compulsory charges?
• Is the loan fully repaid by the final instalment, or is a remaining balance due?
• Which assets secure the debt, and does any personal guarantee cover other or future borrowing?
• What can Global Finance charge if I decline the arranged loan, refinance or repay early?
• Does the agreement allow rate reviews, additional security requests or early repayment demands?
• Is insurance required, can I choose the insurer, and what exclusions and waiting periods apply?

Business-purpose lending: The FMA’s consumer credit guidance distinguishes personal borrowing from lending primarily for business or investment. Do not assume that a business facility carries the same consumer-credit protections as a personal loan, even when a home is involved.

Global Finance: advantages and limitations

• Application support: Assistance with presenting financial information may be useful for a complex purchase or funding proposal.
• Choice of structure: Comparing security, repayment flexibility and term can be more valuable than comparing headline rates alone.
• Limited upfront price visibility: A meaningful cost comparison requires an individual offer.
• Adviser charges can arise: “Usually no advice fee” should not be read as an unconditional promise.
• Security exposure: Pledging additional assets can transfer business risk to personal finances.

Interest, adviser fees and total borrowing cost

Request a written breakdown separating the lender’s interest and fees, Global Finance’s potential charges, and legal, valuation or insurance costs where applicable. An interest rate alone does not show the complete cost.

Global Finance’s disclosure statement says its services are generally paid through provider commissions. It identifies exceptions where client charges may apply:

• You decide not to take the loan it arranged.
• You refinance or repay the loan within 24 months.
• You cancel associated insurance or reduce cover within two years of the first scheduled premium payment.

The public statement does not quantify those charges. Obtain the applicable schedule before engaging the service. An adviser charge and a lender’s early-repayment charge are separate items to check.

No universal compulsory insurance policy or premium was identified for business lending. If cover is proposed, establish whether it is a lender condition or an optional recommendation, and whether any premium is added to the loan.

Illustration: lower repayments versus lower total cost

Original calculation, not a Global Finance quote: Assume NZ$100,000 borrowed at an unchanged nominal annual interest rate of 10%, calculated monthly, with equal monthly repayments and no fees, insurance, payment holidays or final lump sum.

• Five years: Approximately $2,124.70 monthly; total repayments $127,482 and interest $27,482.
• Seven years: Approximately $1,660.12 monthly; total repayments $139,450 and interest $39,450.

The longer term reduces the monthly commitment by about $465 but adds approximately $11,968 in interest. Totals use unrounded repayments and are rounded to the nearest dollar; actual lender calculations may differ.

Our assessment of Global Finance business loans

Global Finance’s strongest feature is help with arranging and structuring business finance. Its main limitation is the need for individual pricing before value can be judged. Compare its proposal with a direct lender offer using the same repayment period, including adviser charges and the assets at risk. A smaller monthly payment is only useful if the longer commitment still suits the business.

Global Finance business loan FAQs

What does Global Finance offer compared with applying directly to a bank?

Global Finance arranges lending and helps present your application; the lender supplies the money. Its disclosure describes working with selected providers, so do not assume every lender is compared. Ask which business lenders were considered and why the recommended offer suits you. Compare it with your bank’s proposal on total cost, security and repayment flexibility, including any adviser charges.

How much of a business purchase could Global Finance help finance?

Its business lending guidance says banks usually lend up to 50% of the business value or purchase price, excluding GST, with additional security potentially supporting other arrangements. This is indicative guidance, not an approval entitlement. Ask whether the assessment uses the purchase price or a lender-accepted valuation, and obtain a funding breakdown covering your contribution, transaction costs and working capital after settlement.

Does Global Finance offer business loans from 9.95%, and how should I compare rates?

The 9.95% starting rate could not be verified in its current official business information. Request an individual lender quote and compare the same usable loan amount, term and security. A lower rate achieved by pledging your home is a different risk proposition from asset-only finance. Include establishment, adviser, valuation and legal charges where applicable, and check whether the rate can change during the repayment term.

Can Global Finance help a start-up without established trading accounts?

Start-up finance is within its stated scope, and its document guidance highlights a business plan and accountant-prepared cash-flow projections. No universal minimum trading period is published. Before paying for a full application pack, ask which lenders will assess a pre-revenue business, what owner contribution they require and whether repayment depends on outside income or additional security. Start-up coverage does not establish that an unsecured option is available.

Could Global Finance help if my bank declined me or I have adverse credit?

A bank decline does not establish eligibility elsewhere, and Global Finance publishes no universal bad-credit acceptance policy. Its guidance identifies owners’ credit histories as an assessment factor. Ask whether another lender would treat the specific reason for refusal differently: insufficient cash flow, unacceptable security and credit defaults are separate problems. Request an initial eligibility discussion before authorising further lender applications; changing providers may not resolve the underlying issue.

Could using my home reduce the rate, and what should I compare before agreeing?

Global Finance says residential property can support higher borrowing limits or more favourable pricing. Ask for a comparison showing the interest saving and additional personal exposure, including whether business assets alone could support an alternative. Have your solicitor check which debts the mortgage or guarantee covers and how the security can be released. A cheaper business facility can become an expensive constraint if it complicates selling or refinancing your home.

Could I owe Global Finance a fee if I decline the loan or repay early?

Yes. Its fee disclosure identifies declining an arranged loan and refinancing or repaying within 24 months as exceptions to its usual no-fee approach. Publicly stated amounts are not provided. Obtain the applicable calculation and trigger in writing before proceeding. When comparing refinancing offers, include both any adviser charge and the existing lender’s exit costs; a lower new rate may take time to recover those expenses.

Will comparing lenders through Global Finance involve several credit checks?

Its privacy policy covers obtaining credit information and sharing information with lenders and relevant service providers, but it does not establish a single-check process for every application. Ask when checks occur, which lenders will receive your application and whether each will make a separate enquiry. Distinguish an initial discussion of possible options from a formal application, particularly if you are also approaching lenders yourself.

Is Global Finance suitable if I need business funding within a few days?

Its business lending page indicates approximately 2–3 weeks for an outcome, depending on the lender and complexity. That is not a confirmed drawdown date. For a purchase or urgent cash-flow requirement, ask whether assessment, valuation, legal work and settlement can fit your deadline. Compare providers by when usable funds can realistically arrive, alongside cost and security, rather than by how quickly they acknowledge an enquiry.