What a good finance company focuses on
We’re proud of our hard-earned reputation for honest work, done well. With carefully balanced loan services we’ve managed to provide a win-win for our company and our customers. At the heart of this success is the focus on empowering these customers.
Often our customers are those who have been turned away by the major banks. This may be because they are applying for a cash loan, living on superannuation or find themselves experiencing a sudden change of circumstances.
Staying true to our purpose in this industry means asking what’s important in this situation. For us, this is always about making life better, not harder.
If you’re looking for a cash loan or an emergency loan working with one of the big banks or lenders in New Zealand can be extremely difficult. Even if you are successful you will probably find yourself hit with exorbitantly high interest rates.
Let’s be clear – we are not here to loan to everyone. However we also don’t believe borrowing should be inaccessible to those who need a helping hand. Responsible lending means a comprehensive application process to assess whether a customer can realistically pay back the loan without it having a negative impact on their lives. Emergency loans and other types of lending require a careful balance of understanding and pragmatism. This approach is at the core of every application we process.
So, how do we we work with integrity in an industry where not everyone has the borrower’s best interests in mind? There are a few key questions we will always ask when approving cash loans, emergency loans or fast loans.
1: One quick loan or one good loan?
Some borrowers have limited options when it comes time to apply for a loan online. If they end up working with an unscrupulous lender it can lead to a downward financial spiral with hidden fees, eye-watering interest rates and endless rollovers.
We would prefer to see people in this situation take out one loan to consolidate their debts and lay out a clear timeframe of how to work through the repayments and get rid of the debt.
2: Get behind them or keep them behind?
Often we meet people in times of stress. They might be borrowing money to pay an unexpected doctor’s bill, or getting a loan to pay for car repair. How to get them through this trying time makes all the difference in the service of a good finance company.
We like to think of a good loan not as a ‘sale’ but instead as a ‘sail’. With the right financial arrangement our customers navigate the best course and continue to move forward. A bad loan is instead like a ball and chain – weighing the customer down and preventing them from moving anywhere in life.
Each situation is assessed to ensure our customer can comfortably make loan repayments while still being able to cover their living costs. It is not our practice to lend to someone who is in a situation where a loan adds to financial hardship.
Any customer we work with will therefore have been through a thorough process to ensure the loan is within their budget and is repayable within an appropriate timeframe.
3: Community awareness or corporate ruthlessness?
We live in a small country where bad news travels just as fast as good news. As a New Zealand-owned business we know that doing right by our customers every single time is an absolute necessity.
That’s not to say there aren’t unsavoury characters and companies out there. Take a look at the news and you’ll see it everywhere. And while there are companies who prey on those feeling desperate, these companies simply don’t last. Word gets around, and it’s not long until you see them in the news, with disgraced owners forced into liquidation or other careers.
At the end of the day it’s easy – we love our work and want to be doing it for a very long time. That’s why we make sure that every loan meets not only industry regulations and responsible lending standards but also our own code of ethics. We work hard. We work fast. And always (always), we look to make life better, not worse.
If you want to talk to us about applying for a loan please call Quick Loans on 0800 200 275 or simply apply online.
This is not legal advice.