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SMBs – Do you know your financial support options?

02 May 2018

Article by Xero banking and fintech strategic partner manager Chris Barton

It’s important for small-to-medium businesses (SMBs) to know how they can save time and money, and improve access to capital.

Banks, small business lenders, payment providers and other fintech partners are constantly working on ways to support small businesses.

New Zealand’s financial services partners each have different offerings to support small business owners, and SMBs are more likely to leverage opportunities available for them to grow if they’re aware of them.


ANZ has recently introduced payment upload functionality to its internet banking platform.

This allows business owners to use payment files created by Xero to process payments in a more efficient way.

This allows customers to make up to 20 payments at a time in ANZ Internet Banking without having to re-enter payment information already stored within Xero.


ASB is at the forefront of digital banking solutions for New Zealand businesses.

Its latest innovation, Plus by ASB, just earned them a 2018 Canstar Innovation Excellence Award.  

It’s a mobile app designed by small business owners, aiming to save business owners precious time by providing daily actionable insights on how their business is doing.

The app’s first release is designed to help small to medium-sized businesses using Xero and other online tools including Google Analytics, Shopify or Vend, to make smart decisions on the go.

Plus by ASB takes less than 2 minutes to download, and is a free open platform which means anyone can use it, regardless of who they bank with.


BNZ’s ongoing investment in digital banking and cloud technology has resulted in them being selected as a 2018 Canstar Innovation Excellence Award winner.

BNZ recently partnered with Optix, a digital platform for co-working spaces and smart offices, to launch community101. 

community101 is a free co-working environment for the Christchurch business community.

It incorporates a beautifully-designed collaborative office environment with smart technology to connect community101 members.


One of Xero’s earliest partners in the rapidly expanding field of small business cash flow lending.

The team at Fuelled has recently joined forces with Heartland Bank to expand its offering and capture more of the small business market looking for short-term invoice financing solution.

The service is fully integrated with Xero which means businesses typically receive the cash they need on the same day.

It’s a low touch, confidential funding option for SMBs.


Xero’s newest small business lending partner, having launched a beta of its service in March this year.

In just a few weeks, FundTap has provided funding to businesses ranging from a small florist to a large engineering firm.

Other customers include a construction firm looking to smooth out erratic project payments, and a growing technology distribution business seeking quicker conversion of its accounts receivable.


Spotcap launched its New Zealand operation in late 2017, offering quick, unsecured business loans of up to $250k to SMBs.

The application process takes as little as five minutes to complete and takes place completely online.

Spotcap uses a proprietary credit scoring algorithm so that it can score businesses based on forward-thinking data.

The service provides access to funds in as little as 24 hours.

It also offers flexible finance solutions to common problems such as cash flow, working capital, and growth.

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