It is very easy to view finance companies as behemoths intent on wringing as much as they can from you. However, they are businesses too – their money is on the line with each deal they make so it is unsurprising that they take a close look at the business workings of each customer.

Lenders are interested in a number of things about their customers. When you approach them for finance they will consider a whole raft of factors before saying yes, or no as it may be. They will be very interested in your financial track record: Do you have a loan history or is this your first? How good are you at meeting your scheduled repayments? Have you ever defaulted on a loan?

They will then take a look at your company: How long have you been in business? How are you performing? Where in the country are you operating?

Then they take an even wider view: What industry are you in and how is that performing?

A lot of this you have little control over, but when it comes to the pieces you do control it is important to have a good record if you’re wanting finance.

To ensure you remain a desired customer, speak to your business partner at Finance New Zealand about the health of your finances. We can help you structure your finances to carry you through periods of change – whether business has gone suddenly quiet, or if you’re growing furiously and cashflow is struggling to keep up. We’re here to help.