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Access funding in minutes with Kiwibank’s Fast Capital

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Chris Barton

Jul 22, 2020

The past few months have given us all a lot to reflect on. For NZ small businesses, many of you will have had to take a hard look at your business and make some important decisions. Maybe you’ve decided now is the time to take your business to the next level. Or maybe you require further funding in the coming months to get your business back on track. 

Whatever your particular reason might be, a business loan is still the most common way to get capital. But applying for a loan can be daunting there can be a lot of paperwork and number-crunching involved. And after all that effort, waiting for the bank to make a decision can be a long game. 

The pressure on working capital is only going to get harder in the next few months, as businesses stop receiving the Government’s wage subsidy. And a large number of these businesses will still need funding to get their cash flow under control. It’s a good time to look at all your options as you enter the next phase of your business’ COVID-19 response. 

Kiwibank has made it faster and easier to apply for a business loan. Kiwibank’s new digital lending tool, Fast Capital, is designed specifically for small businesses using Xero, as the tool easily integrates their Xero financial data automatically to help Kiwibank make a lending decision in real-time.

Get a fast decision on your loan application

Fast Capital is a simple and seamless way for small businesses to get a fast decision on working capital or borrowing without all the paperwork and wait time.

The online tool enables you to apply for funds without completing lengthy application forms. It also provides an automated decision from Kiwibank within five minutes of completing your application. You can choose the borrowing option that best suits your business either a business credit card, business loan or overdraft, up to a limit of $100,000.

Made even smoother with Xero

Xero could be your best asset when applying for a small business loan or finance. Sharing data from your Xero account can help speed up the process, as it means you may not have to supply additional documentation. 

Giving Kiwibank secure access to your business financials in Xero means they can make a decision faster. The sooner you know their decision, the quicker you can consider your options. Just make sure your information is correct and up-to-date in Xero before you apply. 

Xero and Kiwibank’s mission is to help NZ businesses become more productive whether you need more working capital, assets for growth or new digital tools. It’s our belief that technology makes life easier for everyone, and Xero’s integration with Kiwibank does just that. Find out more here. 

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