INDEPENDENT NEWS

Heartland Bank helps SMEs to be Open for Business

Published: Mon 18 Apr 2016 11:15 AM
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

Next in Business, Science, and Tech

Government Exempts Some Home Improvements From Costly Consents
By: New Zealand Government
The New Zealand Herald Named Newspaper Of The Year, Website Of The Year At Voyager Media Awards
By: New Zealand Media and Entertainment
ASB Takes The Lead Again With New Low Home Loan Interest Rate
By: ASB Bank
The Problems With Testing And Case Statistics For Covid-19
By: Nathan Hoturoa Gray
Fletcher Building to lay off 1000 staff in New Zealand
By: RNZ
Driving prompt payments to small businesses
By: New Zealand Government
On Why We Should Legally Protect The Right To Work From Home
By: Gordon Campbell
Spark Welcomes Spectrum Allocation And Prepares For 5G Rollout Over The Next 12 Months
By: Spark
Record Monthly Surplus As Imports Dive
By: Statistics New Zealand
Bar reopening night 'much, much quieter'
By: RNZ
New Zealand’s population passes 5 million
By: Statistics New Zealand
Seven Weeks Of Clearing The Air Provides Huge Benefits: Scientist
By: NIWA
Milestone In Cash Flow Support To SMEs
By: New Zealand Government
Astronomers Discover The Science Behind Star Bursts That Light Up The Sky
By: University of Canterbury
Air New Zealand Adds Business-timed Flights For Regions
By: Air New Zealand
View as: DESKTOP | MOBILEWe're in BETA! Send Feedback © Scoop Media