PLEASE TELL US ABOUT THE NATURE OF YOUR BUSINESS.

Established in 2004 by a group of finance industry experts with a desire to innovate business and consumer lending in New Zealand, CrediFlex offers its clients a choice of lending solutions, without the constraints of a single provider.

100% New Zealand owned and operated, CrediFlex has grown to become one of the country’s largest and most trusted asset and commercial finance providers. Our partners liaise with the lending institutions so that you don’t have to.

I specialise in commercial asset finance for the ‘productivity sector’, which covers earth-moving, craning, forestry, underground services, transport and agricultural.

WHAT ARE THE BIGGEST ISSUES YOUR CLIENTS ARE FACING IN THE CURRENT CLIMATE?

The lockdown in New Zealand and the capacity to execute work with flow on affects. I haven’t seen wholesale staff cuts in my sector but the issues are around capacity constraints as we’re about to head into winter where things traditionally slow down.

WHAT IMPACT DO YOU THINK COVID-19 HAS HAD ON THE LENDING LANDSCAPE?

Quite profound – key suppliers (banks or bank funders) are looking at things harder with a lot of focus being directed towards liquidity and balance sheet strength plus whether they can sustain another shock. Pre COVID-19 the predominant focus of the same organisations was debt-servicing capacity.

Banks are picking and choosing more often because they have the option to do so and decisions are slower. 

I don’t think COVID-19 has been as bad the GFC like a lot of experts are saying, especially in the sector I work but it’s true that when Australia gets a cough, New Zealand gets the flu.

HOW DO YOU SEE THIS CHANGING IN THE COMING MONTHS?

Heading into winter – things slow down across most sectors given our huge agriculture focus.

I’m expecting things to quieten compared to the current dash for cash at the moment, with most three-month radars looking pessimistic.

We have a housing shortage so construction will carry on however what happens to office builds as this has completely stopped with big CBD infrastructure jobs cancelled. Corporate businesses have implemented a 30/30/30 split (work from home, staff at work, staff come and go).

We’re also in an election year, which is always interesting.

However the trans-Tasman border re-opening will reinvigorate our tourism sector with a huge impact on New Zealand’s economy. I think we usually get 1.5 million Aussie tourists – that could potentially jump to 3 million.

WHAT PROBLEMS HAS APRICITY SOLVED FOR YOUR CLIENTS?

Banks are tough with residential security a huge part of their approval process.

The ability for clients to obtain funds without this is huge and makes a big difference. With an extensive approval process – once approved, clients receive their funds straight away.

WHAT DO YOU LIKE MOST ABOUT APRICITY?

The fact that once approved in the system, clients receive their funds immediately. The client portal works well too and communication with our rep is constant who we have a strong relationship with.