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About Figured Lending

Figured Lending is for NZ-based dairy farmers. Our first product - Dairy Flexi Credit - is a flexible revolving credit offering for NZ dairy contract milkers and sharemilkers. Additional lending products are in the pipeline.

Figured Lending offers pre-qualified finance to customers of Figured who satisfy our pre-qualified funding criteria.

We’ve made the entire lending process quick and simple. Your loan application could be approved within 24 hours, with funds available in just 5 working days.* Figured loans are undersecured - there’s no need to provide asset security to access up to $100,000 of funds.

*Heartland's lending criteria applies and timing is based on supporting documents being promptly provided

** A GSA and Personal Guarantee is required. Lending for any vehicle over the value of $5,000 is subject to an SSA.

Figured Dairy Flexi Credit offers loans up to $100,000 to help farmers cover unplanned operational costs; invest in plant, equipment, and livestock; and bridge short-term gaps in cashflow.

Yes, that is the plan. Secured lending will provide Figured farmers with the opportunity to borrow more than $100,000.

No. Only pre-qualified NZ-based farmers can access funds through Figured Lending.


How it works

You need an active Figured account and must satisfy each of the conditions below:

  • Over 18 years old
  • Own a New Zealand business (with a valid NZBN/IRD)
  • Have access to an active Figured account connected to Xero
  • Demonstrate a satisfactory credit history relating to past directorships and financial guaranteers, including general security agreements (GSA) and personal guarantees
  • Provide a 12-month cashflow forecast to validate funding requirements and capacity for loan repayments
  • Show a copy of your employment contract - if relevant. This document will be requested once your loan has been pre-approved
  • Satisfactory AML/identity checks
  • GSA and personal guarantee required

Figured Lending applicants need to meet certain eligibility criteria to be able to apply for Figured Lending. This includes:

  • An active Figured subscription
  • Be a registered NZ Dairy Contract Milking or Sharemilking business
  • Possess a reasonable cash-flow budget to support their lending application which needs to meet certain Financial criteria including Income and Operating Expense ratios

Applying for a Figured loan is quick and easy. Don’t forget that you need an active Figured account to access our lending products.

  • Step 1: Use Figured to generate a new season 12-month cashflow forecast
  • Step 2: Complete our online application form. It takes just 5 minutes
  • Step 3: If approved, you will receive your pre-approval status via email within 24 hours which may request more information or supporting documents before we can provide funding.

Yes. Figured Lending is only available to Figured customers. That’s because we know Figured farmers are on top of their numbers - and that gives us the confidence to lend them money.

Expect to receive your loan approval status within 24 hours from the time you lodged your application. We may request more information or supporting documents before providing a  loan offer. In the event your loan application is denied, we will contact you to explain why and what you can do to access lending.

Figured Dairy Flexi Credit provides undersecured funding from $10,000 NZD to $100,000 NZD for a flexible term of up to 12 months.


Fees & Repayments

Figured Lending interest rates vary according to the loan amount borrowed, your cashflow position, and the overall ‘health’ or creditworthiness of your farming business.

There is a one-off loan establishment fee of $500. No monthly fees.

Figured Dairy Flexi Credit is a revolving credit facility where there are no fixed repayments, however, a condition of the lending is that your monthly milk cheque must be direct credited into the facility. The facility must be repaid in full within the 12-month lending period.

You sure can. Repayments can be made at any time within the 12-month lending period.

No. You can decline our offer if that’s what you want to do.


Privacy & Security

Yes. Once you have submitted your loan application we will conduct a credit and identity check. It’s an important part of responsible lending.

 When we process your lending application we will review:

  • Details related to your previous company directorships and shareholdings
  • Historical financial performance (if your business has been operating for at least 12 months)
  • Credit scores and history
  • Business cashflow forecasts
  • Existing debts
  • AML/identity check

About Figured

We’re on a mission to help farmers become better financial managers. Providing farmers and their advisors with a smarter way to access and deploy capital is a key component of strong financial management.

We saw an opportunity for farmers, with their advisers, to use their farm data to streamline the loan application process. The same data also puts lenders in a stronger position to make more timely and accurate lending decisions.

Figured’s move into undersecured lending services is a logical step as we increasingly became a financial hub for farmers and their advisers.

It takes just 10 minutes to apply for a Figured Dairy Flexi Credit loan. Typically, you’ll receive a response within 24 hours and funds could be in your account within a week, subject to all documentation being provided. Traditional business loans require loads of paperwork and sometimes take days or even weeks to be approved.

A Figured Dairy Flexi Credit facility offers flexible terms, with no fixed repayments. We only require your monthly milk cheque to be direct credited to the facility, and the facility amount must be repaid in full within the 12-month lending period.

No. Figured is not a bank. We are a financial management platform and digital services provider.

We have added lending to our portfolio of services to help customers save time and lower their financial administration overhead. To make this happen we have been vetted and approved by the DIA to offer loan origination services and financial products, provided by Heartland Bank.

Our financial services partner Heartland Bank pays us a margin for loans secured through our platform.

Don’t wait to get funding for your farm business.

Interested to get started or find out more? Enquire now and we'll be in touch to help.
If you already use Figured, you can log in to your online account and apply directly within the app.

Enquire now
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