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Reply To: Why when I have spent 2k of government money on and Accountant and 50 hours of my own time preparing Cash flows and Budgets with several different turnovers and staffing levels which all show that my business of 12 years which has always made good profits can be viable but needs a cash injection  to trade through has been turned down because my HOUSE Mortgage is with another Bank.I have offered any security they might want against the house ( ie Caveat )  as I have 25% equity on today’s price but they say they are unable to make the loan under the current Govt rules as they don’t have control over the House Asset  ( I would move but fixed interest would mean 17 k of penalties. ) I’m going to aproach BNZ who hold my Morgage business to see if i move business banking to them they can give the loan.   If the govt is backing 80% what may house got to do with it. 

Hi Calnar. Like Harry said it’s seemingly more difficult than it should be right now for a business like yours that should be well positioned for a cash injection from a financial institution. Great that Harry gave you his business partner as a resource, I hope that helps you out. A wonderful part of Manaaki is about us sharing our resources and networks to help each other out. It might just be that trying the traditional route that you’re on isn’t actually the easiest way to solve your problem.

I am not a finance expert so won’t try and answer your issue directly, but I also have several resources that I use personally and trust what the insights they will offer on your situation. Each may be able to help you, and all are willingly to speak to you to offer some free advice/consultation to see if they could help. They all approach this situation differently and I always feel it’s good to get varied views of vetted experts so you can find the fastest way forward. I won’t advertise the four individuals here but one is in BNZ at a high level in their business banking, one is a free-cashflow expert, one is a business load expert and the other is a specialist management consultant in complex financial business issues. Let me know if you’d like me to connect you to each of them – you can email me at drew@influenceecology.com or text on 021838433. Sorry we don’t have “the answer” but just use the help with other resources we can offer to get you what you need. Hope that helps. Cheers!