Westpac’s new NZ$100 million lending program aims to give early-stage entrepreneurs the capital to scale.

Westpac’s new NZ$100 million lending program aims to give early-stage entrepreneurs the capital to scale.

Small and medium-sized businesses make up 97 per cent of New Zealand’s economy, they’re the engine room of the country, the risk-takers turning good ideas into jobs and growth. Now they’re finally getting a little extra love from big banking.

Westpac NZ has announced a $100 million lending commitment to help early-stage businesses get off the ground. “We know small businesses are the backbone of our economy and we want to help more people get started on their journey,” says Cat Feaunati, Westpac NZ Head of Business & Virtual Banking.

The program is part of Westpac’s new Closer platform, designed to give start-ups and small businesses access to tailored funding options, simplified applications, and flexible terms with a focus on those operating for less than two years.

“We’ve grown our lending to small and medium sized businesses well ahead of the market over the last 18 months, we’re keen to keep that momentum going into 2026 with the economic outlook set to improve,” says Feaunati

According to Westpac’s own research, 35 per cent of small business owners say access to capital is their biggest roadblock, with only 23 per cent reporting they have all the funding they need. 

Eligible businesses can apply for funding to cover essentials like marketing and tech investments, setting up a workspace or buying equipment. To qualify, owners will need a business plan, cash-flow forecast, and statement of financial position.

Other Early-Stage Small Business Grants in New Zealand

New Zealand’s start-up scene already runs on a surprisingly strong mix of government grants, subsidies, and mentoring programs designed to get small businesses moving.

Work and Income (WINZ) offers two key programs for new founders. The Self-Employment Start-up Payment provides up to NZ$10,000 for people launching a business from unemployment or low-income backgrounds, while the Flexi-Wage Subsidy can deliver up to NZ$16,800 to help small firms hire and train new staff.

Callaghan Innovation, now moving under the stewardship of the Ministry of Business, Innovation and Employment (MBIE) is the country’s main innovation funder. Its New to R&D Grant covers up to 40 per cent of eligible research and development costs, and the Trailblazer Grant (also referred to as the Ārohia Trailblazer Grant) can provide as much as NZ$4 million for scaling big ideas. 

Through the Regional Business Partner Network (RBP) founders can access local growth advisors, capability vouchers, and practical advice to sharpen operations and strategy. And for founders who’d rather learn from someone who’s been there, Business Mentors New Zealand continues to connect new business owners with experienced mentors free of charge.

For startups chasing investment rather than grants, the Aspire NZ Seed Fund targets early-stage tech start-ups, while the Elevate NZ Venture Fund supports fast-growing businesses through partnerships with venture capital investors.

Together, these programs create one of the most comprehensive early-stage support networks in the region. Combined with private-sector moves, like Westpac’s $100 million Closer initiative, they’re helping Kiwi founders get their ideas out into the world.