Free tool
Business loan offer comparer
Got two or three offers on the table? Type in the dollar figures from each and see which really costs least, which gives you room to move, and which carries risks worth a second look. No rates needed, nothing saved.
How the offer comparer works
Business loan offers in New Zealand rarely arrive in the same shape. One lender quotes a monthly repayment over three years and charges a valuation fee. Another takes its establishment fee out of the loan before paying you, and wants weekly repayments for twelve months. A third has a low upfront cost but a stiff charge if you pay the loan off early. Comparing them on a single headline number is like comparing fruit stalls on the price of one apple when each sells by a different weight.
The comparer turns every offer into the same set of dollar figures:
- Total cost of finance — everything you pay beyond the amount borrowed: scheduled repayments minus the loan amount, plus upfront fees (unless they're already in the repayment total), plus ongoing fees across the term.
- Cost per $1,000 borrowed — the total cost divided by the loan amount, times 1,000, so different-sized offers can be lined up fairly.
- Money in your hand — what actually lands in your account once any fees deducted from the advance are taken out.
- Average monthly outlay — repayments and ongoing fees spread across the term, so you can test the loan against your cash flow.
- Flexibility score — out of five, based on early repayment terms, redraw options, repayment frequency, balloon payments and covenants.
- Risk flags — security over property, personal guarantees, daily or weekly debits, unclear exit fees and anything that makes one offer much dearer than the rest.
Why compare on dollars instead of rates?
Rates matter, but they're only one ingredient. Lenders price business loans in different ways, and some fees sit outside the rate entirely. A shorter loan can look dear by rate but cost fewer dollars overall, while a long term with a soft rate can quietly cost more. The dollar view also shows what happens if your plans change. If you might sell a property, land a contract or refinance to a bank within a year, an offer with no early repayment fee may beat a cheaper one that locks you in. Our guide to working out the total cost of finance goes deeper, and early repayment and exit costs explains the fees that bite when you leave.
What to do with the result
Treat the comparer as a shopping list for questions, not a verdict. If one offer has an unclear early repayment fee, ask the lender to put a dollar example in writing. If another wants a first mortgage over your home for a modest amount, ask whether a general security agreement or a smaller property charge would do. Use the gap between offers to negotiate: lenders often move on fees and conditions more readily than on price. Our page on what to check in a loan offer lists the clauses that matter most.
Don't have an offer to compare yet? You can see what your business might qualify for in about a minute. There's no credit check when you ask, your details stay with one specialist rather than being sent around the market, and a real person comes back to you with options that match your situation.
Frequently asked questions
Why doesn't the offer comparer ask for an interest rate?
Because a rate on its own doesn't tell you what a loan costs. Two offers with similar pricing can end up hundreds or thousands of dollars apart once establishment fees, monthly fees, term length and exit costs are added. The comparer works from the dollar figures in each offer, which is what actually leaves your bank account.
Where do I find the total of all repayments?
Most business loan offers or loan agreements show the scheduled repayment amount and the number of repayments. Multiply the two, or look for a line showing total repayments or total amount payable. If it isn't there, ask the lender or broker to state it in writing. A lender who won't give you a total is telling you something.
What does cost per $1,000 borrowed mean?
It's the total cost of finance divided by the amount borrowed, then multiplied by 1,000. It lets you compare offers of different sizes on the same footing. If one offer costs $180 for every $1,000 and another costs $240, the first is cheaper per dollar borrowed, even if its total looks bigger because the loan is bigger.
Should I always pick the cheapest offer?
Not automatically. A slightly dearer offer with no early repayment fee, monthly rather than daily repayments and no property security can be the better buy if your plans might change. The comparer shows flexibility and risk flags next to cost so you can weigh all three.
Is this tool's result a loan approval or an offer?
No. It's a general estimate based only on the numbers you type in. It doesn't check your eligibility, doesn't touch your credit file and isn't advice. Use it to ask better questions, then talk to a person before signing anything.
Does my data get saved or sent anywhere?
No. The calculations happen in your browser. Nothing you type into the comparer is stored or sent to us or to any lender.
Want an offer that's worth comparing?
Tell us what you need and a lending specialist will match you to the right part of the market. Accurate answers on the form mean the first option you hear about is the right one.
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One short enquiry, no credit check to ask, and a real person who matches your business to the right lender in New Zealand's market. Please answer accurately so the first match fits.
No credit check to enquire
No spray-and-pray
A real person on your side