AUCKLAND, New Zealand, Nov. 20, 2024 /PRNewswire/ -- Bizcap, a flexible funding provider for small businesses in New Zealand and Australia, announces the December 1 launch of its Business Line of Credit in New Zealand, following its successful rollout in Australia.
The Bizcap Business Line of Credit gives New Zealand SMEs on-demand access to funds without reapplying for each draw, helping them manage cash flow, cover unexpected expenses, and pursue growth opportunities. Businesses are charged only for funds they use, making it a cost-effective solution tailored to shifting financial needs.
Empowering SMEs with Accessible Credit
"New Zealand's SMEs are critical to the economy, and we're pleased to bring one of our most in-demand products to the market—a flexible funding option that aims to support their operational and growth needs," said Camilla Tumai, Bizcap New Zealand's General Manager. "Our Line of Credit is designed to offer reliable access to working capital, allowing small business owners to manage their finances without the need for repeated loan applications."
Bizcap's Line of Credit serves various industries, from retail and construction to services, enabling New Zealand business owners to manage key expenses like stock purchases, payroll during seasonal lulls, and expansion planning.
"When a customer takes out a Line of Credit, they get access to our online portal that allows for visibility of the facility," said Bizcap Chief Operating Officer Adam Szental. "They can log in to the portal to view and access funds, and see all the repayment options available, including early repayment discounts, so they can effectively manage their cash flow at the click of a button."
Product Highlights
- Flexible Funding: Approvals up to NZD 300,000, with on-demand access through an online portal.
- Efficient Application: Quick setup with minimal documentation.
- Cost-Effective: Businesses pay only on drawn funds, supporting cash flow and covering unexpected expenses.
Bizcap is offering select advisers exclusive pre-launch access to bring this solution to their clients. Interested partners can contact or visit bizcap.nz/partner-up.
About Bizcap
Bizcap is the most open-minded lender in Australia, New Zealand, Singapore and the United Kingdom, empowering small to medium enterprises with fast access to flexible loans. We can approve loans of $5K to $2M in as little as 3 hours without up-front credit checks, and fund them in as little as 24 hours. Since the company's inception in 2019, Bizcap has empowered SMEs with more than 25,000 business loans totalling more than $1 billion, whilst retaining a 4.9/5 Trustpilot rating. For more information, visit bizcap.nz.
Contact
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Chloe Barnes
Senior Marketing and Content Manager