Westpac business loans: term loans and start-up lending

Is a Westpac business loan right for your business?

Westpac has a lending offer for new businesses. For start-up lending, you can give a business plan, cash forecast and statement of financial position instead of two years of accounts, and you don't need to bank with Westpac already. Established businesses can borrow from $3,000 with a term loan, secured or unsecured, normally for up to 5 years.

What Westpac lends

• Business term loan

  Amount

  From $3,000 floating or $10,000 fixed

  Term

  Normally up to 5 years; longer by arrangement

  Who qualifies

  Westpac lending and credit criteria; the most you can borrow depends on your security and what the business can repay

  Security

  Secured on residential property, commercial property or business assets, or unsecured

  Speed

  Not published

  Cost

  Fixed or floating; an establishment fee of up to 1% of the loan, minimum from $400; break costs on fixed loans

• Start-up lending

  Amount

  Depends on your security and what the business can repay

  Term

  Normally up to 5 years

  Who qualifies

  In business for less than 2 years, aged 18 or over and living in NZ, borrowing for business (not residential property); a business plan, cash forecast and statement of financial position instead of two years of accounts

  Security

  Secured or unsecured

  Speed

  Not published

  Cost

  Fixed or floating; a line of credit charge and an establishment fee may apply

Start-up lending

To qualify, your business must be less than 2 years old, and you must be 18 or over and live in New Zealand. You can apply as a person or as a business, but the money must be for business or investment purposes, not residential property. You also need to meet Westpac's normal lending and credit criteria.

Fees and repayments

With a floating loan, you can change your repayments, make lump sum payments whenever you like or pay off the whole loan early. With a fixed loan, you can lock in a rate up to 12 months ahead, but early repayments are subject to break costs and must be at least $10,000. The establishment fee is up to 1% of the loan, with a minimum of $400. Interest is calculated daily and charged fortnightly or monthly. You can repay with a table loan, a reducing loan or interest-only payments.

How Westpac compares

ANZ also lends to start-ups, but new businesses apply by phone. BNZ's QuickBiz and Kiwibank's Fast Capital both need 12 months of accounts. If your business is new and needs money quickly, Bizcap takes businesses with 4 months of trading.

These details come from Westpac's New Zealand website, checked on 6 November 2026.

Common questions