Zip Co is a leading Australian fintech that offers point-of-sale credit and digital payment services to consumers and merchants. Spotcap Australia & New Zealand were acquired by Zip Co (ASX: Z1P) in September 2019. Spotcap has been lending to Australian small businesses since 2015 and has originated over $200 million in credit lines to small businesses.

Zip Business Capital makes quick, sound decisions when offering loans, based on a proprietary credit algorithm that provides us with deep insight into the financial condition of a business. We don't just rely on a backward-looking credit score - we also evaluate your real-life business and cash flow data. Our facility is flexible, meaning you can draw down as you need funds and you will only ever be charged for the funds you use.

You can use the funds you borrow from us for any purpose related to your business. This can include hiring new staff, launching a marketing campaign, purchasing inventory or buying new business equipment.

Zip Business Capital provides credit lines of between $10k and $500k to businesses trading in New Zealand for at least 18 months with an annual turnover exceeding $200k.

The Zip Business Capital product is a hybrid of a line of credit and a business loan, designed to meet the needs of today's businesses.

A line of credit is a business finance arrangement giving you flexible access to funds you can borrow as a loan. Your application is assessed thoroughly and if a line of credit is approved, funds are made available for a limited time for you to draw down. You need only use what you require, as it is needed.

Your line of credit typically is accessible for between one and three months, with the ongoing possibility to renew. During this period, you can draw down as often as you like, up to your approved limit. Each sum you draw down becomes a separate business loan repayable in weekly, fortnightly or monthly principal and interest instalments, spread over 6 to 60 months.

When the initial line of credit term of up to 3 months is completed, you continue to repay, in monthly, fortnightly or weekly instalments, the funds you borrowed. Interest is only charged on the amounts you draw down, not on the total value of the credit line.

You are charged interest on the funds you draw down. Interest is charged only on your outstanding balance. The rate of interest we charge is based on your risk profile.

Additionally each time you draw down there is a 3% drawdown fee. There are no other costs, no establishment fees, no direct debit fees, nothing else to pay.

Just give us a call on 0800 444 540 and we will provide an early payout amount. This will include the principal outstanding and only the interest outstanding for your current payment period. No early break fees.