Posts by OTAVIC PARTNERS
1869 days ago

HELP MY BANK WILL NOT ASSIST MY BUSINESS WITH FUNDS

Rick from

Even in normal times Banks in NZ reject 60% of Business applications primarily because firstly your business risk profile does not pass Bank standards (the % is probably higher than 60% at present) or that the borrower has misrepresented the financial status of the business to the bank concerned. A lot of the above is also because you do not have equity in residential property sufficient to secure your borrowings.

If you have residential property security available we can arrange 12 month loans at 8.5% p.a. PLUS a Lenders Loan Establishment Fee of 2% max = Total Lenders cost of 10.5% which can be renewed annually and is repaid by way of monthly Principal and Interest payments. The Banks operating in NZ as shown at interest.co.nz total charges stretched from a low of 12.1% p.a. lowest to 20.15% p.a.
Note the lowest Bank Loan/Overdraft rate assumes that they only take a interest rate margin of 1% out of what they say is their spread choice of 1% to 5% which I have never ever seen from a Bank in NZ and Australia since 1976.

Our Lender of choice can also switch-hit to Invoice Discounting - which is far more expensive on the surface than using residential property to secure the lower rates shown above. Only one Bank in NZ can switch hit being the BNZ but your credit sales p.a. have to exceed $3.5 M nzd.

The advantage of using Invoice Discounting is two fold, Firstly despite the cost it super charges your cashflow and secondly the resultant liability from selling invoices to the Lender is that the debt is extinguished when payment of the invoice is made by the customer.

Rick 0204-0203663 rick.otavicpartners@gmail.com

FERN LOGO The Final One for Neighbourly 22nd October 2020 .pdf.pdf Download View

More messages from your neighbours
3 days ago

Neighbourhood Challenge: Who Can Crack This One? ⛓️‍💥❔

The Riddler from The Neighbourly Riddler

What has a head but no brain?

Do you think you know the answer? Simply 'Like' this post if you know the answer and the big reveal will be posted in the comments at 2pm on the day!

Want to stop seeing these in your newsfeed?
Head here and hover on the Following button on the top right of the page (and it will show Unfollow) and then click it. If it is giving you the option to Follow, then you've successfully unfollowed the Riddles page.

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1 day ago

Poll: 🗑️ Would you be keen to switch to a fortnightly rubbish collection, or do you prefer things as they are?

The Team from Neighbourly.co.nz

Aucklanders, our weekly rubbish collections are staying after councillors voted to scrap a proposed trial of fortnightly pick-ups.

We want to hear from you: would you be keen to switch to a fortnightly rubbish collection, or do you prefer things as they are?

Keen for the details? Read up about the scrapped collection trial here.

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🗑️ Would you be keen to switch to a fortnightly rubbish collection, or do you prefer things as they are?
  • 82.5% Same!
    82.5% Complete
  • 17.5% Would have liked to try something different
    17.5% Complete
189 votes
26 days ago

Some Choice News!

Kia pai from Sharing the Good Stuff

Many New Zealand gardens aren’t seeing as many monarch butterflies fluttering around their swan plants and flower beds these days — the hungry Asian paper wasp has been taking its toll.

Thanks to people like Alan Baldick, who’s made it his mission to protect the monarch, his neighbours still get to enjoy these beautiful butterflies in their own backyards.

Thinking about planting something to invite more butterflies, bees, and birds into your garden?

Thanks for your mahi, Alan! We hope this brings a smile!

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