Microfinance loans and problem debt

Helping people to access safer credit and reduce their debt are key parts of Building Financial Capability. Two microfinance lending services are available to help.

The Ministry supports two not-for-profit providers of microfinance loans with operational funding, and banks provide the loan capital.

A range of totally interest-free loans, with no administration fees and no hidden costs, are available.

Good Loans

A partnership between Good Shepherd New Zealand, BNZ and the Ministry of Social Development.

• Good Loans are for assets up to $7,000 repaid over 36 months. These loans help clients improve their employment readiness and quality of life.
• DEBTsolve debt consolidation loans up to $15,000. These  enable consolidation of harmful debt(s) into affordable repayments.

Call 0800 466 370 or visit the Good Loans website for more information.

Ngā Tāngata Microfinance

Ngā Tāngata Microfinance is a small, non-profit organisation focused on helping financially vulnerable New Zealanders get ahead with money.

They provide ethical, interest-free loans that give Kiwis a ‘hand up’, not a ‘hand-out’. Backed by Kiwibank

Ngā Tāngata provides GetControl Interest Free Loan (up to $5000).

These loans help with costs like education fees, appliances, medical costs, vehicle repairs or paying off high-interest debt. The programme is about more than the loan, it's about providing customers with the financial capability through budgeting and mentoring to help break the cycle of poverty.

My Money Kete

My Money Kete is a practical toolkit with free tips and resources to help you learn how to reduce debt and get ahead with your money. Backed by Booster Foundation

Their goal is to break the cycle of financial stress, to empower New Zealanders to become more financially capable, and to help them become better off in the long term.

Visit the Ngā Tāngata Microfinance website for more information.