Bank-able NZ™ Funding Scheme

Bank-able NZ is an innovative funding scheme designed to help a new business secure finance for its future development. It is available to business start-ups and existing businesses within Hamilton and the Waipa district.

You can contact Sandy Turner, our Bank-able NZ Programme Manager, to learn more about the application process and what is expected from our clients once accepted into the programme.  

How does Bank-able NZ work?

The Bank-able NZ scheme provides security for new start-ups or existing businesses to obtain a commercial bank overdraft facility which the business pays back to the bank under its normal terms and conditions.

In simple terms, Bank-able NZ acts as security for the entrepreneur. Bank-able NZ partners with a commercial lender, the lender providing the funds at the normal commercial rates with Bank-able NZ providing the security - up to a pre-agreed value.

The scheme benefits the regional economy by helping local people turn their ideas and skills into new businesses. Bank-able NZ also offers on-going support for business growth and development.

Since its inception more than 25 businesses have become success stories thanks to the Bank-able NZ scheme.

Find Out if you Qualify

There are variable criteria for Bank-able NZ depending on funds available at the time.  Contact Opportunity Hamilton for more details or download the Bank-able NZ™ Application Form.

Application forms are in PDF format. This means that a PDF reader will be required to view the PDF. If you do not have a PDF reader, please go to: http://www.adobe.com/products/

If you would like to download the application form, please choose to save the file.

Bank-able NZ Step-by Step

If you qualify for Bank-able NZ scheme, here's the steps you will go through with Opportunity Hamilton:

1. Opportunity Hamilton identifies individuals with a promising business idea, but who lack a banking history or the collateral to secure a bank loan to fund their business start-up.
2. Opportunity Hamilton helps that person prepare a full business plan, complete with budgets and cashflows.
3. That plan is then submitted to the Bank-able NZ board, made up of senior commercial people in the community. The Bank-able NZ board evaluates the candidate's business plan and interviews the candidate.
4. The plan must meet normal commercial lending criteria to be successful. If the board approves the application, Opportunity Hamilton provides the security to underwrite a commercial bank overdraft facility of up to $10,000.
5. The successful candidate is then introduced to the project banking partner to begin a working relationship.
6. A project manager from Opportunity Hamilton continues to provide support to the new business and the Bank-able NZ board maintains a commercial overview (similar to a board of directors). This is just until the business is in a position to pay off the overdraft facility or move into a normal commercial relationship with the bank
7. When that relationship is established, the Bank-able NZ money is released and made available for another business.

Bank-able NZ Purpose

Opportunity Hamilton developed the Bank-able NZ scheme to:

• Promote successful new small business
• Expand economic growth of the region
• Increase employment opportunities
• Reduce welfare dependency

The Bank-able NZ scheme was developed by Opportunity Hamilton in conjunction with its Bank-able NZ™ partners, the Ministry of Social Development, the WEL Energy Trust and commercial lenders.