FAQ

1WHAT TYPES OF LOANS ARE AVAILABLE?

We can offer flexible options as follows:

  • Principle and Interest repayments monthly.
  • Interest only paid monthly.
  • Capitalised interest.
2HOW MUCH CAN I BORROW?

The amount that you can borrow largely depends on the value of the security that you can offer. Our minimum loan is usually $150,000.

3HOW LONG CAN I BORROW FOR?

Our loan terms are usually for 3 to 12 months but in some circumstances we will extend the loan term beyond 12 months’ subject to specific application.

4WHAT FEES DO I HAVE TO PAY?

Although we charge an application fee of 2% (plus brokerage if applicable), this is usually added to the loan so you don’t have to pay anything upfront.

5CAN I REPAY MY LOAN EARLY?

Yes. You can pay your loan early - in part or in full. As long as you give us 30 days’ notice before you make a payment, you won’t need to pay an early repayment fee.

6WHAT ARE YOUR INTEREST RATES?

Our interest rates are sensitive to the level of risk and the term of the loan. Typically, the lowest interest rates are for shorter terms (3-6 months). Because our loans are short-term, interest rates are fixed for the length of the loan.

7WHAT FEES DO I HAVE TO PAY?

Although we charge an application fee of 2% (plus brokerage if applicable) this is usually added to the loan so you don’t have to pay anything upfront.

8WHAT ARE YOUR MEZZANINE INTEREST RATES?

Again, our interest rates are sensitive to the level of risk and the term of the loan, however as this type of funding carries a greater risk the pricing generally starts at 25% p.a. If your loan is considered higher risk, a margin may be applied to this base rate to reflect the level of risk the loan represents.

9WHAT IS THE ANTI-MONEY LAUNDERING AND COUNTERING FINANCING OF TERRORISM ACT (AML/CFT)?

The Anti Money Laundering and Countering Financing of Terrorism Act came into effect from 1 July 2013.

This Act places an obligation on all New Zealand banks and financial institutions to detect and deter money laundering and terrorism financing.

The goal is to help protect New Zealand from financial crime and improve our international reputation as a safe place for doing business.

10HOW WILL THE AML/CFT AFFECT YOU?

Under the AML/CFT, all banks and financial institutions will need to collect more information to verify a customer’s identity and source of funds.

Before we can give you a loan, we will need to ask you for these details. Even if you have borrowed from us before, we may need to ask you for extra identity documents and information. Businesses, trusts or other organisations will need to provide information on the organisation and anyone who acts on its behalf.

The Act affects all banks and financial institutions in New Zealand, so we are required to abide by it. If you have any questions, please feel free to contact us by email at info@bgfinance.co.nz or phone us at +64 9 801 6008.

11IS BLACKWELL GLOBAL FINANCE LIMITED A MEMBER OF ANY INDUSTRY BODY AND DISPUTE RESOLUTION SERVICE?

BGFL is a member of the Financial Services Complaints Limited (FSCL) (FSP number 6999) who provides an independent and impartial dispute resolution service.

FSCL has been approved by the Minister of Consumer Affairs to operate as an external dispute resolution scheme in the financial services industry.