How much can I borrow?2021-09-09T11:53:22+12:00

For Handy Little Loans (unsecured) to most we lend is $1000.
For Secured Loans it depends on the amount of security offered and on your ability to make repayments. We can assess this once you have made an application. Our maximum loans size is $5000.

What can I borrow money for?2021-09-09T11:54:09+12:00

You can use a loan for just about anything. This can include a holiday, education fees, car loans, unexpected bill payments, boat finance, car repairs, bond money, funeral expenses, or debt consolidation. If there is any particular need you have please talk to us about it.

How long does it take to get a loan?2022-02-01T14:39:59+13:00

As soon as you have filled out an application for credit and supplied the required information, it usually takes less than one hour – subject to responsible lending inquiries and checks. We need to be sure the loan is right for you and that you can afford the repayments.

Can anyone apply to get a loan and what age?2021-09-09T11:55:29+12:00

Normally you must be at least 18 years old, a permanent New Zealand resident and have a regular income. However if you had someone who would be a guarantor it would definitely be considered.

How much does a loan cost?2021-09-09T11:56:50+12:00

The costs to borrow money from Acorn Finance depends on the type of loan you have. Please see the Fees and Interest Rates section of our website.

Do you do credit checks?2021-09-09T11:57:29+12:00

We carry out credit checks on all new loan applicants. However, your credit score is not the only consideration when assessing your application. We also review your recent income and expenditure, employment, other current loans and make an assessment if the loan is right for you.

How confidential is my application?2021-09-09T11:58:35+12:00

Only employees of Acorn Finance get to see your application. When we do a credit check, a record of this inquiry is placed with the credit reporting agency. This is for your benefit so you can see who has been looking at your credit worthiness. See the Privacy Waiver and Consent document.

Do I need to supply any other documentation?2021-09-09T12:07:50+12:00

The information and documents we need to see at the time of application include:

  • Proof of ID such as your drivers licence or passport. This can be done online when completing the application form – no scanning needed.
  • Bank statements for the last 3 months. This can be done online when completing the application form.
  • Vehicle details if using for security – registration or VIN.
What if I have a poor credit record?2021-09-09T12:08:22+12:00

When assessing loan applications, credit worthiness is only one of several factors we consider. We are flexible and understand there are difficult times in life which result in a poor credit record. Depending on how long ago, the amount involved and how you worked your way through these times, we may be able to work out a solution for you. Sometimes other guarantees need to be put in place, such as a guarantor. We carry out credit checks on all loan applicants as part of our application review process to be sure the loan is right for you and that you can afford the payments.

Do I need security?2021-09-09T12:10:31+12:00

No security is needed for our Handy Little Loans. Some form of security is needed for each secured loan and most commonly it is a motor vehicle. Other chattels such as boat, jewellery, or collectables may be considered and will need a valuation and insurance cover. We do not use essential house hold items as security. Motor vehicles need to be no older than 15 years, have current warrant and registration and be insured. We can lend up to 80% of its realisable value.

Can the Security Items be repossessed?2021-09-09T12:11:30+12:00

Acorn Finance has a claim over the security items listed in the loan contract to ensure the repayments are made as specified in the loan contract repayment schedule. If you fail to meet your commitments under the contract, Acorn Finance may be entitled to repossess and sell the security items. We are obliged to send a repossession warning notice 15 days before repossession.

What is a guarantor?2021-09-09T12:12:46+12:00

When the person requesting a loan does not qualify for one because they have insufficient security, or are less than 18 years old, or are not a New Zealand resident, or have a poor credit record, another person can act as guarantor for them. The guarantor can be a family member or friend, needs to be a New Zealand resident, have a good credit rating and can offer sufficient security. If there is a serious default on the loan, the guarantor will be legally responsible for any outstanding amount.

How do I make payments?2021-09-09T12:13:23+12:00

We can work out what is best for you; weekly, fortnightly or monthly repayments. We will set up Direct Debit Authority to deduct repayments from your bank account, usually on the same day you are paid. We set this up when you sign the loan contract.

What happens if I stop making payments?2021-09-09T12:14:25+12:00

If for any reason you miss a payment, ring us immediately so we can arrange a solution that works and you can manage. If you continue to miss payments and fail to make arrangements, you will be liable for default interest and default fees. Each time we attempt to contact you about missed payments by phone, text, email or post you may charge a default fee.

  • Dishonour Payment or Default Fee $10.00
  • Repossession Warning Notice (if applicable) $10
  • Repossession Fees (if needed) – the actual costs charged by the repossession agent
  • If we use Ezidebit to process direct debit payments from your bank account, they will charge you $14.95 for every dishonoured payment

If your loan continues to be in default and you don’t make a payment arrangement with us we will initiate debt collection proceedings. If applicable, this will include repossession of any security listed on the contract. This means we can repossess the security and sell it to cover any outstanding balance. Then we will suspend the interest and pass your account to a debt collector.

What if I have Unforeseen Hardship during the term of the loan?2021-09-09T12:17:07+12:00

If you are unable reasonably to keep up your payments or other obligations because of illness, injury, loss of employment, the end of a relationship, or other reasonable cause, you may be able to apply to the creditor for a hardship variation.

To apply for a hardship variation, you need to:

  1. Make an application in writing; and
  2. Explain your reason(s) for the application; and
  3. Request one of the following:
    (a) an extension of the term of the contract (which will reduce the amount of each payment due under the contract); or
    (b) a postponement of the dates on which payments are due under the contract (specify the period for which you want this to apply); or
    (c) both of the above; and
    (d) give the application to the creditor.
    Do this as soon as possible. If you leave it too long, the creditor may not have to consider your application.
Where can I find a copy of my loan contract?2021-09-09T12:18:43+12:00

When your loan was approved you signed a copy of the contract. If you need another copy, please send an email to info@acornfinance.co.nz and ask us to send you a copy of your loan contract. Alternatively you can log on to our website with your email address and password to view your loan history with us. Use Client Login.

How can I get a copy of my loan statement and outstanding balance?2021-09-09T12:19:33+12:00

To find out your outstanding balance we suggest you log on to our website with your email address and password using the Client Login option. Alternatively, you can either email or phone us and request your current balance, next payment amount and due date. If you want a copy of your loan statement send your request by email to info@acornfinance.co.nz. Alternative use the Client Login to check out your account and payments. You need your email address and password.

Can I repay the loan early?2021-09-09T12:20:08+12:00

Yes you can. Please contact us to get a final settlement figure. Since you only pay interest up to settlement day, it is important to advise the exact date you plan to make the final payment.

How do I make a complaint?2021-09-09T12:21:18+12:00

If you are not satisfied with the service you have received from Acorn Finance 2012 Ltd you should contact us by telephone, email, or in writing and let us know what your complaint is about. We have an internal complaints process and undertake to investigate your concerns promptly and fairly. We are a member of an independent dispute resolution scheme operated by Financial Services Complaints Limited (FSCL) and approved by the Ministry of Consumer Affairs. We have 40 days to respond to your complaint.


If you are not satisfied with our response to your complaint, you may refer the matter to FSCL by emailing info@fscl.org.nz or calling FSCL on 0800 347257. Full details of how to access the FSCL scheme can be obtained on their website www.fscl.org.nz. There is no cost to you to use the services of FSCL.

I have changed my contact details, what do I do?2021-09-09T12:22:39+12:00

Either send an email or letter to Acorn Finance advising your new contact details. Alternatively you can phone on 09 419 8984 and ask us to update your details.
Contact Acorn Finance
09 419 8984
Fax 09 4198924

What does a Credit Contract look like?2021-09-09T12:25:37+12:00

Our Credit Contracts follow the recommended practice as outlined in New Zealand Legislation. Click here to see an Example of a Credit Contract

What is a Direct Debit and what are the Direct Debit Terms & Conditions?2021-09-09T12:36:28+12:00

We use Ezidebit to process Direct Debit payments on our behalf. Click on Direct Debit Form Example to see the Terms and Conditions.

Can I cancel my credit contract?2021-09-09T12:37:32+12:00

You have the right to cancel your loan credit contract up to 9 days after the contract is signed. If you do cancel your contract, we can charge you for any reasonable expenses that had to be paid in connection with the Credit Contract. We can also charge any interest accrued for the period from the day you received the loan until the day you repaid the balance. Please refer to the Right to Cancel in the Example of a Credit Contract.

Learn about your rights before getting a loan2021-09-09T12:38:37+12:00

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

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