Changes to consumer lending law to help people avoid unaffordable debt mean it may take longer to get a loan from 1 December. Information to help consumers prepare for the changes has been welcomed by financial mentors and lenders.

New data has revealed that Kiwis are embracing choice when it comes to financial services, with almost half of personal consumer lending in Aotearoa New Zealand being financed by non-bank lenders.

NZ businesses will be better off with the extension of the Government-backed loan scheme designed to help small and medium enterprises access credit for cashflow, capital assets, and in their COVID-19 recovery efforts.