Spinach business lending overview.

Spinach's NZ flagship is unsecured SME term lending. Per published terms, the standard unsecured loan runs up to $100,000, extending up to $500,000 for borrowers with strong financials. Sector-aligned positioning covers hospitality, healthcare, retail, trades, and manufacturing. There is no AR-ledger invoice finance or property-secured product in the public range.

Per published terms, the standard Spinach unsecured business loan runs up to $100,000. Borrowers presenting strong financials (longer trading history, higher turnover, more substantial bank-statement record) can extend up to $500,000 on the same unsecured structure. Both bands rely on a director personal guarantee rather than property or asset security.

Same-day approval is documented as a pattern across published Spinach case studies, particularly where the borrower profile and last-six-months bank-statement data align cleanly with the underwriting model. Extended-band applications (above $100,000) commonly take 1 to 3 business days. Approval timing is always subject to the lender's assessment of the specific application.

Spinach quotes individually rather than publishing a single advertised rate. Standard unsecured loans commonly price in the 14% to 26% indicative range, depending on trading history, turnover, sector, and bank-statement data. Extended-band loans (above $100,000) commonly price toward the lower end of the unsecured market because the borrower profile is stronger. Actual rates depend on the lender's assessment.

Spinach is registered on the New Zealand Financial Service Providers Register under the Financial Service Providers (Registration and Dispute Resolution) Act 2008. The lender is bound by the AML/CFT Act 2009 obligations for customer due diligence and is required to be a member of an approved disputes resolution scheme as part of its FSPR registration.

Spinach's published sector focus covers hospitality, healthcare, retail, trades, and manufacturing. The public site runs sector-aligned content, calculators, and case studies across these five categories. Other NZ industries can sometimes fit the underwriting model where bank-statement data and trading history are clean, though sector focus prioritises the five named segments.

Standard Spinach application documents are NZBN registration, business owner ID and proof of address (for AML/CFT), the last 6 months of business bank statements (often via accounting-software integration), a brief on the loan purpose, and director consent for credit check. Director PG documentation is completed at acceptance. Extended-band applications (above $100,000) commonly add P&L statements and tax-position context.

The standard Spinach unsecured loan does not take property or asset security. A director's personal guarantee is the standard arrangement and gives Spinach recourse against the directors if the business position deteriorates. Both the standard band (up to $100,000) and the extended band (up to $500,000) per published terms rely on the director PG rather than registered asset or property security.

Spinach sits in the online unsecured-SME tier (typically faster process, smaller amounts, higher pricing than secured major-bank lending). Major banks (ANZ, ASB, BNZ, Westpac) typically price below Spinach on secured lending where the borrower can pledge property or asset, but commonly require longer trading history and broader documentation. For NZ SMEs without security and with a clean bank-statement record, Spinach is widely considered competitive on speed.

Interest on a business loan used wholly for business purposes is generally deductible against business income for NZ tax purposes, subject to the standard IRD deductibility rules and the apportionment requirement where any portion of the borrowing is used for non-business purposes. Tax treatment is general in nature and subject to the accountant's confirmation on the specific business position.

Because the standard product is unsecured, Spinach's first remedy on default is to pursue the director personal guarantee against the directors who signed at acceptance. There is no asset or property to recover under a registered security interest because no PPSR or mortgage security is taken. Persistent non-payment moves to formal default and credit-file marks. Working with Spinach early on a temporary cash-flow setback is widely the cleaner outcome for both sides.

Spinach's underwriting model is bank-statement-led, which means a 6 to 12-month minimum trading record is commonly the entry point for the standard unsecured band. Pre-revenue startups without bank-statement data do not fit the standard underwriting model. The extended band (up to $500,000 per published terms) commonly requires a more substantial trading history alongside the stronger financial profile.