Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Heartland Bank helps SMEs to be Open for Business


Heartland Bank helps SMEs to be Open for Business

Monday, 18 April 2016, Auckland

Heartland Bank has launched a transformative new product for New Zealand’s small businesses.

Heartland Bank’s Open for Business is a simple online tool that allows small businesses to apply for a loan in under three minutes, and get a decision in seconds.

“Small businesses are the backbone of the New Zealand economy and we have recognised that they have challenges accessing much needed finance for growth,” says Jeff Greenslade, Chief Executive Officer of Heartland Bank.

The online tool allows small businesses to get an immediate approval for unsecured loans of up to $50,000 through a short process of around ten questions with a decision on screen.

In the background a secure and industry standard verification check is completed and, once confirmed, the loan is approved. Businesses receive the loan in approximately 24 hours.

The Open for Business platform also enables same-day decisions for business loans between $50,000 and $250,000.

“We are proud to be the first bank to market with an application process that is this quick and easy. It will transform the way small businesses access finance,” says Greenslade.

Through the use of new technology and smart questioning techniques incorporating industry metrics, turnover and operating margins, Heartland Bank has been able to reduce the input required by the small business owner to an absolute minimum.

“We identified a gap in the market for small business owners, the vast majority of whom have fewer than five employees and are time poor. We understand their need for speed, simplicity and responsiveness in sourcing finance to grow their businesses,” adds Greenslade.

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Super Fund/Canada Bid v NZTA: Tow Preferred Bidders For Auckland Light Rail

The two preferred delivery partners for Auckland light rail have been chosen and a final decision on who will build this transformational infrastructure will be made early next year, Minister of Transport Phil Twyford announced. More>>

ALSO:

9.3 Percent: Gender Pay Gap Unchanged Since 2017

“While it has remained flat since 2017, the gender pay gap has been trending down since the series began in 1998, when it was 16.2 percent,” labour market statistics manager Scott Ussher said. More>>

ALSO:

Ex-KPEX: Stuff Pulls Pin On Media Companies' Joint Ad-Buying Business

A four-way automated advertising collaboration between the country's largest media companies is being wound up after one of the four - Australian-owned Stuff - pulled the pin on its involvement as part of a strategic review of its operations ... More>>

Bus-iness: Transdev To Acquire More Auckland And Wellington Operations

Transdev Australasia today announced that it has agreed terms to acquire two bus operations in Auckland and Wellington, reaching agreement with Souter Investments to purchase Howick and Eastern Buses and Mana Coach Services. More>>

ALSO: