How It Works

Loanwise is quick and easy, as lending should be.
If you’re looking for some extra cash for life’s little expenses - whatever it may be, we can often make it happen.

Loanwise acts as both a lending and/or brokering service.
Click on a tab below to find out how each type of service works.

 

If Loanwise Funds Your Loan

This is when Loanwise chooses to fund your loan directly. Your information stays with us and we process your loan internally from start to finish.


Borrowing is made easy with our 3-Step-Process!


1. Online application

The whole application process is done online. You can apply for as little as $1,000 or up to $10,000.
Our application process is easy and accessible on any device at any time. 

Simply click Apply Now and this will take you to our simple online application form. Fill in what term and amount you’re looking for, fill in your details and click submit!

You will then receive a call from one of our helpful staff outlining the short set of documents we require to process your application.


2. Send us your supporting documents
You can fax, or scan and email the following to us:

  • Latest 3 months' worth of bank statements
  • Valid Photo ID (Passport, NZ Driver's Licence or Firearm’s Licence)
  • A selfie of you holding your Photo ID (see our guide here)
  • Proof of address (less than 3 months old)
  • Any other document we may request to be able to validate the information provided by you


3. Processing and loan decision
Our Lending team will process your loan application swiftly once we have received your supporting documentation.
A helpful staff member will then contact you with an outcome on your loan application.
If the loan is approved, we will send you a loan agreement and direct debit authority for you to read through.
If you wish to go ahead and digitally sign them - we will then transfer your funds to your NZ bank account overnight (if accepted before 4.30pm in order for us to process it in time for that night’s payment cut-off time).

Repayments
We set up automatic direct debits aligned to come out on your payday/s, for your convenience. 
You can also choose to repay your loan early at no extra cost – just contact us organise this with us!

 

If Loanwise Brokers Your Loan

This is when Loanwise chooses to source an external lender (i.e. not Loanwise) to fund your loan. Your information will be passed on for them to process your loan from start to finish.


What type of loans do we broker out?

Personal loans - Anything from urgent bills and medical expenses, to car purchases or wedding finances!
Car loans - A Loanwise loan will give you the ability to shop for the car of your dreams with confidence.
Racing Car loans - We understand the desire to race - let us help you get a great deal on your next car loan.
Boat loans - Enjoy the water with a boat loan from Loanwise.
Travel loans - Need a break? - looking for sunshine - Loanwise is here to help.
Debt consolidation - We can help you pay off your debts by rolling them into one simple, easy to manage loan.
Home loans (coming soon) - Loanwise can assist you in finding a home loan to meet your needs.
Business loans (coming soon) - Short-term cash loan needs, Debtor finance, Fixed asset purchases - the team at Loanwise are ready to help.

1. Online application
The whole application process is done online. You can apply for as little as $1,000 or up to $10,000.
Our application process is easy and accessible on any device at any time. 

Simply click Apply Now and this will take you to our simple online application form. Fill in what term and amount you’re looking for, fill in your details and click submit!

 

2. Send us your supporting documents
You can fax, or scan and email the following to us:

  • Latest 3 months' worth of bank statements
  • Valid Photo ID (Passport, NZ Driver's Licence or Firearm’s Licence)
  • A selfie of you holding your Photo ID (see our guide here)
  • Proof of address (less than 3 months old)
  • Any other document we may request to be able to validate the information provided by you

 

3. Processing and loan decision
Our Lending team will process your loan application swiftly once we have received your supporting documentation and begin to source a suitable external lender for your type of loan.
A helpful staff member will then contact you with an outcome on your loan application.

If the loan is approved, an external lender will send you a loan agreement and direct debit authority directly for you to read through.
If you wish to go ahead, sign and return the loan documents to the external lender – they will then organise the transfer of your funds to your NZ bank account (timings of payment/transfer may vary from lender to lender).

Repayments
These are usually set up as automatic direct debits aligned to come out on your payday/s, but this may vary from lender to lender.  You can also choose to repay your loan early – but again charges may vary from lender to lender.