Westpac NZ unveils $100m lending plan for start-ups

Westpac New Zealand has announced a $100 million lending commitment to support start-ups and early-stage small businesses, aiming to make it easier for entrepreneurs to access capital as confidence slowly returns to the sector.

Funding boost for small business founders

The new lending pool comes amid ongoing challenges for business owners navigating a cautious post-pandemic recovery. Westpac research found that 35% of small business owners cite funding access as a major obstacle, and only 23% say they currently have all the capital they need.

Cat Feaunati, Westpac NZ head of business and virtual banking, said the initiative reaffirms the bank’s commitment to supporting the country’s entrepreneurial ecosystem.

“We know small businesses are the backbone of our economy and we want to help more people get started on their journey,” Feaunati said in a media release.

“Many start-ups will need funding to help realise their growth ambitions and that’s where we come in.”

Confidence slowly returning to small business sector

Confidence across New Zealand’s small business sector is gradually improving, though many firms remain cautious. Prospa’s SME Sentiment Tracker found that while over half of SMEs rated their business health as “good” or “very good,” nearly 60% had three months or less of cash reserves. Meanwhile, Kiwibank has described business investment as “quiet,” with many firms still waiting for clearer conditions before committing to capital spending.

Feaunati said Westpac’s funding commitment aims to help bridge that gap and ensure viable new ventures aren’t held back by liquidity constraints.

“We’ve grown our lending to small and medium-sized businesses well ahead of the market over the last 18 months,” she said. “We’re keen to keep that momentum going into 2026, with the economic outlook set to improve.”

Simplified process for start-ups

Applicants will need to provide a business plan, cashflow forecast, and statement of financial position when applying. However, Feaunati said Westpac understands that new ventures may not yet have full financial records.

“We know many business owners who are just getting started won’t have full financial records to show us – asking people to instead put together a business plan will hopefully make that process a bit easier,” she said.

Any business operating for less than two years can apply for funding.

Online tools and new campaign support

Westpac’s website includes templates, guides, and cashflow tools to help business owners prepare their applications. Entrepreneurs can also call 0800 288 101 or request a callback from a Westpac business specialist.

The announcement coincides with the launch of Westpac’s new ‘Closer’ advertising campaign, featuring a TV commercial celebrating the resilience and emotion of running a small business.

It also follows operational changes across its business operations — including the decision to scrap trail commissions for mortgage advisers from June 2026. Advisers will instead receive an upfront commission of 0.90%, replacing the current mix of 0.60% upfront and 0.20% trail, with a 0.30% top-up payment applying during the transition period.

All applications are subject to lending criteria, terms, fees, and conditions.

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