Microfinance loans and problem debt
Helping people to access safer credit and reduce their debt are key parts of Building Financial Capability. Two microfinance lending services are available to help.
The Ministry supports two not-for-profit providers of microfinance loans with operational funding, and banks provide the loan capital.
A range of totally interest-free loans, with no administration fees and no hidden costs, are available.
Good Loans
A partnership between Good Shepherd New Zealand, BNZ and the Ministry of Social Development.
- Good Loans are for assets up to $7,000 repaid over 36 months. These loans help clients improve their employment readiness and quality of life.
- DEBTsolve debt consolidation loans up to $15,000. These enable consolidation of harmful debt(s) into affordable repayments.
Call 0800 466 370 or visit the Good Loans website for more information.
Ngā Tāngata Microfinance
Ngā Tāngata is a charitable trust that offers a safe, ethical alternative to high-cost lenders. All applications must be made with the assistance of financial mentors.
- GetControl Debt Relief loans (up to $5,000) can help pay off high-interest debt.
- GetAhead Asset Building loans (up to $3,000) can help pay for essential things.
- GetSet Loans are a combo of both loans (up to $3,000).
Visit the Ngā Tāngata Microfinance website for more information.
