Commercial & Industrial Loans

ASAP Finance is the ideal place for those needing to accelerate commercial acquisition time frames and maximise return on equity through tailored commercial property loans across NZ.

As a private non-bank lender, our independence enables us to offer fast and flexible commercial funding solutions specific to your needs. We understand that most large commercial transactions are time sensitive and our close working relationship with our solicitor enables us to settle transactions within 48 hours of receiving a loan application.

Our bespoke commercial and industrial funding packages are available for:

  • Vacant, leased or owner occupied commercial & industrial properties
  • Commercial offices
  • Industrial Warehouses
  • Childcare centres
  • Accomodation; motels & hotels
  • Special assets such as vineyward and orchards (on a case by case basis)

Key Benefits of Commercial Property Finance with ASAP Finance

  • We offer interest-only, part interest-only, and capitalised loan structures to suit you.
  • Our loan-to-value ratios are not static, they depend on the asset involved. Our maximum LVR for commercial & industrial properties is 70%.
  • Funding is available up to NZD $50M on a single transaction.
  • We’ll work in tandem with your mortgage broker, solicitor & accountant to ensure the funding package will produce will suit your needs.
  • Our application process is streamlined, and turnaround times are quicker. We can settle loans within 48 hours of receiving your initial funding application.

Commercial and Industrial Property Loan Assessment

ASAP has a more flexible structure than traditional banks, allowing us to provide a more personalised experience and tailor products and services according to the needs of the individual customer.

What we review:

  • Valuations (not always necessary)
  • Building plans and consents
  • Commercial leases
  • Sale & purchase agreements
  • Exit strategy

Our credit policy can be adjusted when it makes commercial sense to do so. See our lending criteria for more.

ASAP Funding Process

  1. Submit a funding application. We work quickly, assessing your project and providing indicative terms in as little as 24 hours.
  2. Issuing of formal letter of offer. Following your acceptance of the indicative terms, we issue a letter of offer detailing:  
    • Our fees (including a legal quote for your solicitor)
    • Your interest rates
    • Loan terms
    • Any tailored conditions
  3. Creation of loan documents. Once you have accepted the offer and paid the loan deposit, we work with your solicitor to arrange complete loan documents.

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FAQ

Do you offer long-term commercial loans?

ASAP Finance is a short-term lender and the maximum term we offer is 12 months. Commercial loans are provided for a fixed term and with a certain exit strategy in mind. For example, we may settle a commercial building to allow the client time to finalise financial accounts or lease out space as required to obtain main bank funding. 

Do you lend on vacant commercial properties?

Yes. As a private non-bank lender, we make our own rules. For a vacant property, we assess things like the likely market rental to determine the value of the property, making allowances for the vacant nature of the property, required time to lease up the property, and cost of rental incentives and inducements.   

Do you lend on owner-occupied commercial property?

Owner–occupied properties are treated similar to properties with arm’s length leases, provided the purchaser can demonstrate enough income to pay a market rental on the property. We may require a formal lease to be entered into between the trading company and the property company at arm’s length commercial market terms in standard ADLS, PCNZ or equivalent Deed of Lease. 

What is an ISA/IEP?

An ISA (Initial Seismic Assessment) is carried out using the Initial Evaluation Procedure (IEP). It compares the existing building’s % of structural earthquake strength relative to the New Building Standard (%NBS). The IEP was originally designed by the New Zealand Society for Earthquake Engineering (NZSEE). Territorial Authorities carry out an IEP as an initial seismic assessment of a building. Its purpose is to determine if a building is potentially earthquake-prone.” (Source: Tino Seismic) 

Do you fund buildings with a low IEP rating or Earthquake Prone Buildings?

A building is earthquake-prone if it has a seismic capacity of less than 34%NBS (%New Building Standard). It implies a building will suffer a high level of damage in a moderate earthquake.  There are limited circumstances in which we fund earthquake-prone buildings – specifically if the purchaser intends to develop the property, in which case we would rely on the underlying land value (less demolition, contamination removal and land remediation cost) in determining an appropriate amount to lend.  

A similar process is applied for Earthquake Risk Buildings or buildings where the IEP rating is between 34%NBS and 66%NBS. This means damage can be major to minor, depending on how close to the 34 %NBS rating the building is. We fund these buildings albeit at a conservative level. We would also need a clear understanding of the client’s rationale in purchasing such a building and that it aligns with the short-term nature of the loans that we provide. 

Do you fund specialty commercial properties such as motels, hotels or vineyards?

Yes, over the years we have funded everything from hotels, motels, golf clubs, vineyards, orchards, forestry blocks and more. Such funding applications should include supporting financial information pertaining to trading operations. A valuation may be required for specialist assets. 

Client Reviews

We are proud of work our clients have completed

Subdivided Sections

90 residential Lots (including Super Lots) located in Hobsonville Point, Auckland. The subdivided sections were unencumbered, and the client required funding to complete the construction of houses across the wider group. An on-demand cashflow facility was provided to enable the group to meet cashflow obligation.

Loan: $20,000,000
End Value: $33,500,000
Loan-to-value: 60%
Term: 12 months

Residential Block Refinance

A large block of residential land located in North Auckland. A Land Bank Facility was provided to enable the client to complete resource consenting for the subdivision. The Loan Facility provided refinance for the existing mortgage, a further advance facility to cover consenting costs, as well as capitalised interest and fees.

Loan: $6,000,000
End Value: $12,000,000
Loan-to-value: 50%
Term: 12 months

Commercial Property Acquisition

A client was in the process of selling a residential investment property, when settlement was called on the commercial property he had recently purchased in Te Aro, Wellington. A 3-month bridging loan (secured against both properties) was provided to enable the client to meet his settlement obligations while he completed the sale process for his residential investment property. No valuations were required.

Loan: $1,750,000
End Value: $2,620,000
Loan-to-value: 67%
Term: 3 months

Land Purchase

Vacant industrial land located at Tauriko Business Estate, Tauranga. The industrial property loan was provided as a ‘bridge’ to enable the client to complete a restructure of its group debt currently with a main bank. The client would eventually build a warehouse on the site. Repayments were on an interest-only basis. No valuation was required.

Loan: $5,000,000
End Value: $7,500,000
Loan-to-value: 67%
Term: 6 Months

Commercial Office Purchase

A six-level commercial office building in Auckland CBD. A commercial property loan was provided to assist with the purchase of the property. Settlement occurred within just 48 hours of receiving the loan application enabling the client to avoid penalty interest and default action. Repayments were on an interest only basis. No valuation was required.

Loan: $7,200,000
End Value: $10,500,000
Loan-to-value: 69%
Term: 3 months + extension

Purchase

A residential investment property located in Mt Roskill, Auckland. The ‘low doc’ loan facility was approved with limited financial information provided by the client. Repayments were to be made on an interest-only basis. No valuation was required.

Loan: $635,000
End Value: $910,000
Loan-to-value: 70%
Term: 6 months

Master-planned Subdivision

This construction loan was structured into two parts: (i) the purchase of an unconsented block of land in Lincoln, Christchurch, and (ii) construction and associated earthworks for the initial stages of the 120-lot land subdivision. The construction loan included capitalised interest and fees, and a revolving GST facility. 50% presales cover was achieved prior to drawdown from the construction facility.

Loan: $19,000,000
End Value: $29,230,000
Loan-to-value: 65%
Loan-to-cost: 80%
Term: 12 months + extension

Single-house Build

A section purchase and construction of a single house within a greenfield subdivision in Flat Bush, Auckland. The construction loan included capitalised interest and fees with no repayments required during the build. Funding was approved without a fixed price contract in place and no valuation drawdown reports were required – instead, drawdowns were provided based on agreed milestones.

Loan: $840,000
End Value: $1,200,000
Loan-to-value: 70%
Loan-to-cost: 82%
Term: 9 months

Terrace-townhouse Development

Construction of 29 terraced townhouses, and subsequent subdivision located in Whenuapai, Auckland. The loan facility provided for capitalised interest and fees, and included a revolving GST facility. Funding was provided without any pre-sales or a QS appointed to the project.

Loan: $12,950,000
End Value: $19,300,000
Loan-to-value: 67%
Loan-to-cost: 81%
Term: 12 months

Commercial Property Acquisition

A client was in the process of selling a residential investment property, when settlement was called on the commercial property he had recently purchased in Te Aro, Wellington. A 3-month bridging loan (secured against both properties) was provided to enable the client to meet his settlement obligations while he completed the sale process for his residential investment property. No valuations were required.

Loan: $1,750,000
End Value: $2,620,000
Loan-to-value: 67%
Term: 3 months

Land Purchase

Vacant industrial land located at Tauriko Business Estate, Tauranga. The industrial property loan was provided as a ‘bridge’ to enable the client to complete a restructure of its group debt currently with a main bank. The client would eventually build a warehouse on the site. Repayments were on an interest-only basis. No valuation was required.

Loan: $5,000,000
End Value: $7,500,000
Loan-to-value: 67%
Term: 6 Months

Commercial Office Purchase

A six-level commercial office building in Auckland CBD. A commercial property loan was provided to assist with the purchase of the property. Settlement occurred within just 48 hours of receiving the loan application enabling the client to avoid penalty interest and default action. Repayments were on an interest only basis. No valuation was required.

Loan: $7,200,000
End Value: $10,500,000
Loan-to-value: 69%
Term: 3 months + extension

Master-planned Subdivision

This construction loan was structured into two parts: (i) the purchase of an unconsented block of land in Lincoln, Christchurch, and (ii) construction and associated earthworks for the initial stages of the 120-lot land subdivision. The construction loan included capitalised interest and fees, and a revolving GST facility. 50% presales cover was achieved prior to drawdown from the construction facility.

Loan: $19,000,000
End Value: $29,230,000
Loan-to-value: 65%
Loan-to-cost: 80%
Term: 12 months + extension

Single-house Build

A section purchase and construction of a single house within a greenfield subdivision in Flat Bush, Auckland. The construction loan included capitalised interest and fees with no repayments required during the build. Funding was approved without a fixed price contract in place and no valuation drawdown reports were required – instead, drawdowns were provided based on agreed milestones.

Loan: $840,000
End Value: $1,200,000
Loan-to-value: 70%
Loan-to-cost: 82%
Term: 9 months

Terrace-townhouse Development

Construction of 29 terraced townhouses, and subsequent subdivision located in Whenuapai, Auckland. The loan facility provided for capitalised interest and fees, and included a revolving GST facility. Funding was provided without any pre-sales or a QS appointed to the project.

Loan: $12,950,000
End Value: $19,300,000
Loan-to-value: 67%
Loan-to-cost: 81%
Term: 12 months

Subdivided Sections

90 residential Lots (including Super Lots) located in Hobsonville Point, Auckland. The subdivided sections were unencumbered, and the client required funding to complete the construction of houses across the wider group. An on-demand cashflow facility was provided to enable the group to meet cashflow obligation.

Loan: $20,000,000
End Value: $33,500,000
Loan-to-value: 60%
Term: 12 months

Purchase

A residential investment property located in Mt Roskill, Auckland. The ‘low doc’ loan facility was approved with limited financial information provided by the client. Repayments were to be made on an interest-only basis. No valuation was required.

Loan: $635,000
End Value: $910,000
Loan-to-value: 70%
Term: 6 months

Residential Block Refinance

A large block of residential land located in North Auckland. A Land Bank Facility was provided to enable the client to complete resource consenting for the subdivision. The Loan Facility provided refinance for the existing mortgage, a further advance facility to cover consenting costs, as well as capitalised interest and fees.

Loan: $6,000,000
End Value: $12,000,000
Loan-to-value: 50%
Term: 12 months

Other Loan and Finance services

Construction and Development Loans

Development finance is our bread and butter. The bedrock of ASAP Finance is helping Kiwi developers with securing finance to get their development projects out of the ground, having reviewed thousands of transactions and facilitated over $3 Billion in lending to the NZ market.

Commercial & Industrial Loans

If you are planning on buying a residential or commercial investment property, then you need an investment property loan. Not all complex problems require complex solutions; our team of experienced lending managers will work with you to create a simple solution, specific to your needs.

Bespoke Investment Loans Settled Quickly

ASAP Finance is the ideal place for those needing to accelerate commercial acquisition time frames and maximise return on equity through tailored commercial property loans across NZ.

Bridging Finance Structured for Your Needs

ASAP Finance offers a wide variety of bridging loan solutions for borrowers all over New Zealand. Cashflow timing gaps are natural occurrences in business; bridging these gaps can be the difference between securing your next big project or sitting on the side-lines.

Land Bank Loans for Undeveloped Land

Undeveloped land rarely generates income, and we understand how hard it is to buy land with little cash flow. If you’re wanting to secure finance to purchase undeveloped land, you’ve come to the right place.

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