The Little Loan Shop takes its responsible lending obligations seriously. When you apply for a loan with us we do everything we can to understand your situation so that we come to the best decision possible for you at the time. This means we will ask you for your personal details as well as for details about your financial position. You can rest assured that we keep all your personal information confidential.

Examples of the information we may ask you for:

• personal details including your age and the number of people who are financially dependent on you
• income and benefits including whether you have a full-time, part-time, or casual job
• fixed expenses such as rent, repayment of other debts, child support, and monthly or yearly expenses such as insurance. We will also ask if you have any other expenses that come up from time to time, and any special or unusual circumstances that might affect your ability to repay a loan
• existing loans and whether your new loan will be used to repay an existing loan
• credit history and your consent to run a credit check

You will need to give us proof of your personal details and financial situation by providing a photo ID, such as a Driver Licence or Passport, and giving your consent for us to view your bank statements via a secure online link.

Last but not least, we will ask you specific questions about the loan you have applied for, including how much you want to borrow, what the money will be used for, and what repayment schedule will suit you best.

When you‘ve answered the questions and given us the information required, we’ll assess your application and let you know if we’re able to help you. We have several types of loans available and may offer you a different type of loan from the one you applied for or we may offer you a slightly smaller amount.

Why has my application for a loan been declined?
Before we give you an answer on your application we’ll assess whether you can comfortably repay the loan. We might decide not to give you a loan if we believe you’d find it extremely difficult to repay, and/or the type of loan you have asked for will not meet your needs or goals.

Understand everything about taking out a loan
The following information will be given to you during the application process. We do our best to make sure you understand everything you need to know about getting a loan before you sign the contract, including your rights and responsibilities:

• the terms, conditions, interest rates, and fees
• the risks that come with having a loan, and the results of not repaying it.

We’re here to help

Our loan applications are processed during business hours on Monday through Friday. If you have any questions or concerns about your loan at any time, contact us by phone or email and we will respond asap.
If you have trouble meeting your scheduled repayment from time to time, be sure to let us know as early as possible. We will treat you reasonably if you miss a payment and will work with you to find a new repayment schedule that suits.

If you face sudden financial hardship for any reason, we will do our very best to help you find a way you can continue to meet your repayment obligations. You may be able to make an Unforeseen Hardship application and if you ask us to, we will refer you to an agency that can give you advice on managing your money.

Lending Advice Video

Not sure if you should get a loan? Look at the videos called "It's all good" from the NZ Commerce Commission which explain your rights. It's all good