GOOD SHEPHERD NEW ZEALAND

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StepUP Logo A little help goes a long way

WHAT IS StepUP?

StepUP is a low fixed-interest loan with no fees, for people on limited incomes. You can borrow up to $5,000 and have up to three years to pay it back. There are no hidden charges.

Community lenders will help you to collect the documents you need, complete the application and help make sure that you can afford to repay your loan. Loans can be held in individual or joint names.

These loans are to help New Zealanders to improve their quality of life and are provided on a not-for-profit basis.

WHO PROVIDES THE LOAN?

StepUP is a community initiative of BNZ and Good Shepherd. Delivery is supported by the Ministry of Social Development.

Good Shepherd Microfinance New Zealand Logo Bank of Zealand Logo Supported by New Zealand Government Logo

WHAT CAN THE LOANS BE USED FOR?

The below list is an indication only. Your community lender will be able to talk to you more about suitable loan purposes.

  • Second-hand cars
    Second-hand cars
  • New household appliances such as fridges and washing machines
    New household appliances such as fridges and washing machines
  • Computers
    Computers
  • Medical Expenses
    Medical expenses
  • Course costs & fees
    Course costs & fees
Maria, paid for dental work
When you can't eat what you like, everything is very bleak and dark. The StepUP loan has made an enormous, huge difference. - Maria, paid for dental work

StepUP
LOAN DETAILS

  • Loan amount: $1,000 to $5,000
  • Interest Rate: 6.99% per annum
  • Term: Up to 3 years
  • Repayments are worked out based on the applicant’s budget and what they can repay

AM I ELIGIBLE FOR A StepUP LOAN

To qualify you must:

  • Currently qualify for a Community Services Card
  • Reside in your current premises for more than 3 months
  • Show a willingness and capacity to repay
Calculator

REPAYMENT COST
EXAMPLES

(based on 6.99% interest)

Loan Amount Total Cost Repayments Term
$2,000 $2,144.92 $90mth/$22.50wk 24 months
$3,500 $3,754.45 $157mth/$39.25wk 24 months
$5,000 $5,363.98 $224mth/$56.00wk 24 months
$2,000 $2,218.05 $62mth/$15.50wk 36 months
$3,500 $3,879.63 $109mth/$27.25wk 36 months
$5,000 $5,545.12 $155mth/$38.75wk 36 months

Repayments include interest, and are approximate only.
Rates subject to change.

Nicky, bought a car
I really liked that they made sure I would be able to keep up with the payments and not be left in financial strife. - Nicky, bought a car

HOW TO APPLY FOR A StepUP LOAN

  • FIND A LOCATION 1. FIND A LOCATION

    Use the map below to find your local StepUP Loan provider.

  • Go to an interview 2. Go to an interview

    You’ll need proof of ID and documents that show how much money you have coming in and going out.

  • BNZ ASSESSES APPLICATION 3. BNZ ASSESSES APPLICATION

    We want to make sure you have manageable repayments.

  • Sign an agreement 4. Sign an agreement

    If your loan is approved, you promise to pay it back.

  • Buy item 5. Buy item

    Use the loan for items such as a second hand car or new furniture.

  • Pay back the loan 6. Pay back the loan

    You make regular repayments until the loan is paid back.

FIND A PROVIDER

ENQUIRE ABOUT A
StepUP LOAN NOW

A small loan can be a big StepUP.