The fundU process
A clear path from enquiry to funding
Five steps, one lender, no runaround. Here's exactly what happens from the moment you enquire to the moment the money lands.
fundU is a direct lender, so the process is short. There's no broker relaying messages, no panel of lenders and no waiting in someone else's queue. Here's how it works for a typical New Zealand business loan secured against property.
Tell us the scenario (about two minutes). Use the online enquiry or call us. We'll ask what the money is for, roughly how much, how soon you need it, what property is available and how you expect to repay. Enquiring doesn't affect your credit score.
Talk to a lending specialist. We call you back — usually the same business day — to understand the whole picture. Often we can tell you on that call whether it's something we can do and roughly how we'd structure it.
Direct assessment. Our credit team looks at the property, the purpose, existing lending against the property, your credit history and the exit. No financial statements or tax returns are needed for the initial assessment; we may ask for bank statements, contracts, IRD statements or an accountant's letter depending on the situation.
Approval, valuation and documents. Once we're comfortable, we issue a loan offer. A registered valuer confirms the property value and our lawyers prepare the loan and mortgage documents. Your lawyer explains them to you and witnesses your signature.
Settlement and funding. The mortgage is registered electronically and funds are released — to you, to IRD, to a creditor or to settle a purchase, as agreed. In some cases this happens in as little as 24 hours once approved.
Repayment options that fit the business
Depending on the approved terms, loans can be structured as:
- Interest-only — pay the interest monthly and repay the principal at the end
- Capitalised interest — no scheduled monthly repayments during the term; interest is added to the loan and repaid at the end
- Principal and interest — reduce the loan as you go
Most fundU loans are short to medium term and are repaid by a planned event — a property sale, a refinance to the bank, a contract payment or retention release, or the business's cash flow. Read our guide to planning your exit.
What to have ready
- The amount and exactly what it's for
- The deadline, if there is one (an IRD date, a settlement, a contract start)
- The property address and roughly what's owing on it
- Your NZBN or company details, if you have them
- How you plan to repay or refinance the loan
Honest answers speed everything up. If there's an IRD arrangement, a default or a bank decline in the background, tell us early — it's rarely a deal-breaker, and it helps us structure the right loan first time.
Process questions
How long does the fundU process take?
It depends on the property, the valuation and how quickly the lawyers can finalise documents. Because fundU makes its own decisions, many enquiries get an answer in principle on the first call, and funding can happen in as little as 24 hours once approved in some cases.
Do I need a lawyer?
Yes. Because the loan is secured by a mortgage over property, your lawyer will explain and witness the loan and mortgage documents and work with our lawyers to register the security and settle the loan electronically.
Will you need a valuation?
Usually. We'll typically ask for a current valuation from a registered valuer, which we arrange as early as possible so it doesn't hold things up. In some cases a recent valuation may already be available.
What if I'm declined?
We'll tell you straight and, where we can, explain why. Sometimes a different structure, more security or a clearer exit plan makes the difference, and we'll say so.
A practical next step
Ready to see what's possible?
Tell us what the business needs, when you need it and what property is available. A fundU lending specialist will call you back to talk it through — enquiring is free and won't affect your credit score.