Your first call with a lender: what gets asked and why

The enquiry form gives a lender the outline. The first phone call fills in the shape. In a fast deal, this call does three jobs at once: it tests whether the request makes sense, it decides which lending path fits, and it sets the document list that drives the next few hours. Treat it as the start of the assessment, not a sales chat.

What will the specialist ask first?

The opening questions are almost always the same, because they decide everything that follows.

1. How much do you need, exactly? Not “around half a million” — the actual figure, and whether it includes any costs or a buffer.
2. What is it for? Paying a supplier, clearing a tax bill, buying equipment, bridging a property settlement. Purpose shapes the product.
3. When does it need to land? A real deadline, such as a settlement date or a payroll run, helps the team prioritise.
4. How does the business trade? Industry, how long you’ve been operating, roughly what comes in each month and how customers pay.

Business.govt.nz notes that lenders want to see a business can repay what it borrows. Every question on the call is really a version of that one.

Why do they ask about tax and past credit?

Fast lenders don’t automatically decline businesses with IRD debt or past credit trouble. Both are considered case by case. What they need is the full picture early.

Expect to be asked:

• whether GST, PAYE and income tax returns are filed up to date;
• whether there is any overdue IRD balance, and whether an instalment arrangement is in place;
• whether there are defaults, judgments or other lenders currently chasing payment;
• whether the business has other loans, leases or lines of credit.

If something is wrong, say so plainly. Our page on checking your IRD status explains what a lender looks for and how to pull the information from myIR in minutes.

What if there is property in the picture?

Property changes the conversation. If you or the business own residential or commercial property, the specialist will ask:

• the address and who is on the title;
• what is owed on it now and to whom;
• a realistic estimate of its value;
• whether anyone else, such as a spouse or co-owner, needs to agree.

Property-secured options run from $20,000 to $5,000,000, using first mortgages, second mortgages or caveat-style security. Larger and faster amounts are often only realistic with property behind them.

How should I prepare in the ten minutes before the call?

You don’t need a polished pack. You need the facts within reach.

Have this open	Why it helps
Internet banking	To quote average monthly deposits accurately
myIR	To confirm returns filed and any balance owing
Companies Register entry	Directors, shareholders and NZBN in one place
Rates notice or title details	Property address, owners and rough value
The bill, contract or invoice you need to pay	Proves the purpose and the deadline

The 24-hour readiness check turns this into a printable list. If you want to see where you stand before anyone calls, run it first, then send your enquiry.

What should I ask the specialist?

It’s a two-way call. Good questions to ask:

• Is 24 hours realistic for my situation, and what would push it out?
• Which documents do you need first, and which can follow?
• Will this be secured or unsecured, and why?
• Who else will be involved — a valuer, my lawyer, my accountant?
• What will happen next, and when will I hear from you?

A useful first call ends with a short document list, a named next step and an honest view of timing. If you finish the call unsure what to do next, ask again before you hang up.

What happens straight after the call?

The hour after the call is the most valuable hour in a fast deal. The specialist starts assembling the file while you gather documents, and the two halves need to meet quickly.

• Send documents in one go if you can. A single email with clearly named files is processed faster than ten separate messages over an afternoon.
• Name files plainly. “Bank statements Apr–Sep” and “Director licence front and back” save the assessor from opening every attachment to work out what it is.
• Reply to follow-up questions quickly. A short “yes, that deposit is a one-off insurance payout” can save a day of back and forth.
• Warn anyone who might be needed. If your lawyer, accountant or a co-owner may need to sign or confirm something, give them a heads-up that afternoon.

If something on the call changed the picture — a higher amount, a different property, a new deadline — tell the specialist straight away rather than waiting for the next scheduled contact.

Illustrative example: a Bay of Plenty retailer

Illustrative only. A Tauranga homeware retailer enquires for $45,000 to pay for summer stock. On the call, the owner quotes deposits straight from internet banking, mentions an IRD arrangement for last year’s GST that is up to date, and confirms the business is a company with two directors. The specialist asks for six months of statements, both directors’ licences and a screenshot of the arrangement from myIR. Everything arrives within the hour, which keeps the deal on track for a same-day unsecured decision.

Ready to book that first call?

The first call is only as useful as the enquiry that triggers it. Tell us the real amount, the real purpose and the real deadline, and we’ll come back with a real answer. Enquiring takes about a minute, there’s no credit check when you first enquire, and your details aren’t sent to a crowd of lenders. A specialist reads every enquiry and calls you personally.

Start the 60-second enquiry →