# Heartland Bank review: business asset and equipment finance

> Heartland Bank lends New Zealand businesses from $10,000 for trucks, machinery and equipment over 12 to 60 months, with rates from 8.70% a year. Here is what it finances, who qualifies and how it compares.

By Jason Dark, last checked 2026-11-06. Part of [Lenders](https://smallbusinessloan.co.nz/lenders) on Skipper.

## The short version

- Heartland is a New Zealand-owned bank that finances trucks, trailers, machinery, farm equipment and commercial helicopters.
- Loans start at $10,000, run for 12 to 60 months and have interest rates from 8.70% a year.
- You don't need to bank with Heartland to apply, and it can refinance asset loans from another bank.
- Heartland can finance a truck for a new owner-driver before the business has any income, if a major freight carrier has offered a contract.

## Is Heartland a good lender for your business?

Heartland suits a business that's buying a truck, machine or other equipment and wants to repay it over a few years. Heartland is a New Zealand-owned bank, and its rates start at 8.70% a year, which is among the lowest rates New Zealand business lenders publish. Loans start at $10,000, so Heartland isn't the right fit for small purchases. Heartland's asset finance is only for buying equipment, so look elsewhere for working capital or a tax bill.

## What Heartland lends

| Product | Amount | Term | Who qualifies | Security | Speed | Cost |
| --- | --- | --- | --- | --- | --- | --- |
| Asset and equipment finance | From $10,000 | 12 to 60 months | A business buying a vehicle, machinery or equipment; you do not need to bank with Heartland | The asset you buy, or other assets you own outright | Not published | Interest rates from 8.70% a year |

Heartland finances new and used trucks, trailers, heavy machinery and earthmoving equipment. Heartland also finances materials handling and manufacturing machinery, such as CNC machines and press brakes, along with tractors, harvesters and spraying equipment. Heartland can finance an attachment or implement on its own if it's clearly identifiable. Commercial and tourism helicopter operators can borrow too, but Heartland doesn't finance private aircraft.

## Who Heartland lends to

You don't need to be a Heartland customer to apply. Heartland can also refinance an asset loan from another bank if you meet its criteria. You'll need to provide your business details, financial information, identification and invoices or contracts for the equipment. For a helicopter, Heartland needs a valuation from one of its approved valuers.

Heartland also helps people starting a new transport run. If you're becoming an owner-driver for a major New Zealand freight carrier, Heartland can finance the truck and trailer based on your expected income. You'll need a letter of intent or a contract from the carrier, and a cash flow forecast from your accountant showing how the income was calculated. Most lenders want to see a trading history first, so this is important if your business is new.

## What Heartland costs

Interest rates start at 8.70% a year, and loan terms range from 12 to 60 months. A longer term means lower repayments, but you'll pay more interest overall. Heartland can match your repayments to your business's seasonal needs, but interest still adds up during slower months. Heartland doesn't publish its fees. Once you get an offer, you can check your repayments with the [business loan calculator](https://smallbusinessloan.co.nz/tools/business-loan-calculator).

## How to apply

You can talk to one of Heartland's asset finance relationship managers or send an enquiry online, and Heartland will get in touch. Heartland will guide you through the application and run its checks. If you're approved, Heartland will email you an offer letter and pay the equipment invoice on the agreed date.

## How Heartland compares

[UDC Finance](https://smallbusinessloan.co.nz/lenders/udc) also specialises in vehicles, trucks and equipment. UDC lends from $5,000 for vehicles and can finance the full price, but it doesn't publish its rates. Banks offer asset finance too. [BNZ](https://smallbusinessloan.co.nz/lenders/bnz) starts at $5,000, [ASB](https://smallbusinessloan.co.nz/lenders/asb) and [Westpac](https://smallbusinessloan.co.nz/lenders/westpac) at $15,000, and [Kiwibank](https://smallbusinessloan.co.nz/lenders/kiwibank) at $20,000. The [asset finance guide](https://smallbusinessloan.co.nz/loans/asset-finance) compares all these options.

These details come from Heartland's website, checked on 6 November 2026.

## Common questions

### What is the interest rate on a Heartland business loan?

Heartland says interest rates for asset and equipment finance start at 8.70% a year. Your rate depends on the asset, the loan term and your business.

### What is the minimum Heartland business loan?

The minimum loan is $10,000. Heartland does not publish a maximum.

### Do I need to bank with Heartland to get a business loan?

No. You don't need to be a Heartland customer to apply for asset and equipment finance.

## Sources

- [Heartland: Asset and equipment finance](https://www.heartland.co.nz/asset-finance)
- [Heartland: Asset finance common questions](https://www.heartland.co.nz/asset-finance/common-questions)