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Loan FAQ

What is the interest rate?

Our fee’s are clear and transparent.  You simply pay a flat interest rate of 1.85% of the funded amount per monthly installment.

Eg. Funded amount x 1.85% = the interest you pay every month you have the loan.

Is there an application fee?

Yes, a one-off setup fee of $125 is added to the first payment.  (If your application is declined no application fee is charged). 

What term can I spread payment over?

You can choose to spread payment over 3, 6, 9 or 12 months.

Can I spread payment over a longer term?

No.  We specialise in short term loans, however if your loan is causing you hardship, please contact us to discuss longer terms for repayment.

Can I pay it off early if I choose?

Yes. You can settle your loan in full at anytime by simply contacting us arranging to do so.

Can I have more than one loan with Pet Funders at once?

Yes, subject to approval.

What happens if I want to “add to” the services I’m getting (i.e. borrow more?)

Once a loan is in place, it’s difficult to alter the funding figures, so the easiest way is to start a new loan for the added amount and to have two loans running in parallel.

Do you credit check me?

Yes you can expect to be credit checked.

When will I know I’ve been accepted?

Just click on 'Get Approved Now' button on the front of our website. Fill in a few brief details and we'll respond with an approval within 30 minutes (currently <8 minutes) within business hours. Once you have approval, the Vet will perform the work and generate an invoice and loan agreement for you to complete online.

Making Payments

How are loan repayments made?

All payments are made via monthly Direct Debit from your bank account.

When do payments start?

The first payment starts within one week after the signup date and continue monthly after that. You can set this date, when you confirm the loan with us.

Can I pay weekly or fortnightly instead of monthly?

At Pet Funders we work on monthly payments and our loans are setup this way.

Should you require to change this to weekly or fortnightly, then there is a fee of $65.00 for changing the payment schedule.

If I miss a payment does it automatically affect my credit rating?

Not usually.  We understand that sometimes life happens and we do all we can to work with you to ensure your payments are caught up to date and manageable for you.

What if my bank account changes?

Simply contact our Direct Debiting team and they can update it for you to ensure your payments continue uninterrupted.

Who do I contact to query my loan or discuss payments etc?

You will be given full contact details of our Direct Debiting team once your application has been submitted/approved, call us on 0800 125 916, email us admin@petfunders.co.nz

Who does Pet Funders pay the money to?

We pay the money directly to your Vet within 48 hours after completion by you of the online loan agreement.

Are there penalties for repaying the loan early?

You only pay interest for the months you’ve used the loan.

There is a $125 Settlement Admin Fee payable to cover our processing costs.


What if my Vet isn’t signed up to offer Pet Funders payment option?

We can only fund the invoices of Vets who have signed up with us.  If you’d like to fund an invoice from a vet that is not yet one of our clients please suggest they contact us on info@petfunders.co.nz and we’d be happy to show them the benefits of signing with us. (it’s free for them to do so!)... or let us know their details and we'll follow them up for you.

What happens if I am unhappy with the services of the vet who’s invoice I’m funding – can I stop payments?

No please don't stop payments. Your relationship with your vet (who’s invoice you’re funding) is separate to your funding relationship with us.  If you are unhappy with your vet, although unfortunate, that doesn’t negate your responsibility to honour your loan repayments to us.

Eg. Just like a house or car loan, if your car breaks down or your house burns down, it doesn’t cancel your mortgage/car loan.

Are you just like a credit card?

No, we are not a credit card.  We are structured differently.  Credit Card companies aim for you to have a balance owing for as long as possible (that’s where they make their money!).  We are short term loan providers.  We WANT you to pay your loan off.  It is a specific loan for a specific reason – unlike the open-ended nature of credit cards.

Are you a responsible lender?

Fee Funders NZ Ltd t/a Pet Funders is committed to being a responsible lending company and is a registered member of the Financial Service Provider Register, as well as the Financial Dispute Resolution Scheme.

Are you a registered finance company?

Yes we are a Registered Financial Service Provider - FEE FUNDERS NZ LIMITED (FSP287345) and a Member of

Financial Services Complaints Limited

Level 4, Sybase House, 101 Lambton Quay, Wellington 6011

Schedule of Charges

Fee Schedule
Setup Fee $125.00
The loan setup/admin fee payable when you start the loan
Interest Flat Rate - Standard 1.85% per month
The standard flat interest rate on the loan calculated on the initial loan amount
Interest Flat Rate - Default 2.50% per month
The interest you will pay if you default (do not pay on time). You may be charged this from the time of your first default until your loan is completely up to date.
Dishonoured Payment $12.50
This is the charge for having a payment reverse (i.e not enough money in your account)
Single Payment Variation Fee $12.50
Charge for us varying your single payment amount or date
Change Payment Schedule to Weekly/Fortnightly $65.00
When you get us to change all of your payments to fortnightly or weekly
Loan Refinance $125.00
When you need to stop the current loan and setup a new one due to additional amount or longer term
Early Repayment Fee $125.00
When you wish to repay your loan to us early and we need to recalculate and produce a settlement statement for you.
Statement Fee $22.50
When you need us to generate a settlement statement for a certain date for you
Additional PPSR Registration Fee $25.00
If we need to secure our loan to you with a registration on the Personal Property Security Register
Caveat Lodgement and Removal $965.00
Should we require to lodge a caveat security against your assets (if your loan is a large amount - or if its a condition of loan approval) or repayment becomes doubtful or you are in formal default 


Funded Amounts & Terms

What terms do you spread payment over?

Your customer can choose to spread payment over 3, 6, 9 or 12 months with us.

What amounts can you fund?

We fund fees from $500 - $25,000.

Do you offer funding over a longer term? (e.g. 24 months)

No – we specialise in short-term loans.

History and experience show that 6 or 9 months is the “sweet spot” for safe lending terms.

Does it cost to sign up with you?

No.  There is ZERO cost to you, the business owner.  It is free to sign up with us, and free to use our services.

How does Pet Funders make their money?

We make our money from the interest charged on the loan to your customer.  The person who’s spreading payment of your invoice pays the interest – not you.

What is the interest rate and how is it calculated?

We charge a flat interest rate of 1.85% of the funded amount per monthly installment.

Eg. Funded amount x 1.85% = the interest charged every month they have the loan.

Is there an Application Fee?

Yes, a one-off setup fee of $125.00 is added to the customers first payment.  (If an application is declined no application fee is charged). The setup fee is included in the customer application.

Are the interest rate and the application fee the same regardless of the amount funded?

Yes.  The interest rate and the nominal setup fee are the same regardless of the amount being funded.

Are there penalties for paying the loan off early?

Your Customer can settle their loan in full at anytime by simply contacting us and arranging to do so.  Your customer only pays interest for the months they’ve used the loan. We do charge a $125 Settlement fee for early repayment.

The Process

What is the process for signing up with Pet Funders?

Simply complete and return by email our Client Agreement Form.  Your application will be processed within one business day.


How much help do we get from you?

As much as you need!  Looking after our Clients is important to us and we go above and beyond to ensure that you have all the help and tools that you need.  We want you to use us….. and we know you’ll only use us if you if it’s really quick and easy for you to do so!

We provide tools and marketing materials to help you including:

  • Free Printed Flyers
  • PDF online versions of flyers
  • Pet Funders Logo to use as you wish
  • Quoting software
  • Wording for quotes/invoices/website
What is the process for using you with my Customers?

It’s EASY and takes you less than 3 minutes online. 

Simply log into www.petfunders.co.nz with your user name and password and complete the quick and easy online form to generate the lending documents.

With the push of a button the simple and clear paperwork is generated and emailed to your customer for online completion. (It takes them less than 5 minutes for them to complete).

At all stages you are kept fully informed

Making Payments

When do I (the business) get paid?

We pay you 100% in full within 48 hours after your customer completes our online loan agreement.

When does my Customer make their first payment?

Payments are made by monthly Direct Debit.  The first payment is automatically set to start within 3 working days after the date of application.

Can my customers pay weekly or fortnightly instead of monthly?

Our software works it out on monthly payments and the first payment needs to be the monthly amount.  On special request we can change the frequency after we have received the first payment.

What’s the process for payment defaults?

If a scheduled payment misses your customer gets a friendly email message to inform them and give them options for ways to make payment.

If they don’t proactively make payment within two days a friendly staff member will phone them and work with them to reschedule the payment.

It is in everyone’s best interests that the lending agreement is honoured so we work with the customer to achieve the win/win in every situation.

We respect the customer during all facets of the process and work closely with them to ensure successful outcomes.

Are there penalties for missed payments?

If your customer defaults on payment we do everything in our power to contact and work with your customer to resolve the situation and reschedule the payments. Unsuccessful direct debits accrue a $12.50 fee to the customer.

Like a Credit Card?

Are you similar to a credit card company?

No, we are not a credit card.  We are structured differently.  Credit card companies aim for people to have a balance owing for as long as possible (that’s where they make their money!).  We are short-term loan providers.  We WANT our Customers to pay their loans off.  It is a specific loan for a specific reason – unlike the open-ended nature of credit cards.

Do you have Interest Free transactions?

The short answer is “no” and here’s why…

We assume you want full payment of your invoice.  Somebody has to pay the interest – and our business model is set up so that your customer, not you, pays for the convenience of using our money to spread payment of your invoice.

If you wish to use “interest free terms” as a sales tool in your business that is something between you and your customer and we don’t get involved.

Why is using Pet Funders a good alternative to Credit Cards?

It gives your customer choices.  Many people may not wish to, or be able to pay your invoice on credit card and having a cost effective, easy spread payment alternative makes good financial sense for the cash flow of both you and them.

Pet Funders is strictly a short term loan facility to cover a specific invoice.

A Specific Loan for a Specific purpose.

Unlike a credit card, which tends to ‘never end’, this is a specific loan for a specific thing, that finishes and is all paid off…which feels much nicer (and is more financially clever)

Security / Mitigating Risk

Do you Credit Check my Customers?

Yes.  In most cases we credit check customers before agreeing to fund them.  It’s in everyone’s best interest that payments can be made.

On the rare occasion that we refuse an application you will be informed of the refusal and then you can make your decision regarding the work you do for your customer and the payment terms you agree upon.

How will I know if it’s approved?

We encourage all customers to request a pre-approval from our website. This pre-approval will be processed within 30minutes (our current average is <8minutes) during working hours and we will email your staff the resulting approval limit. We also send a text to your Customer to advise the pre-approval.

Please note: This is not a confirmation of the loan, but merely a limit up with which we are happy to accept the loan. Once you have generated a final invoice for the customer, enter our loan application portal and complete the details for the loan. Once the Customer has confirmed the loan online, we will move to funding.


Can the same customer have more than one loan with Pet Funders at once?

Yes, subject to approval.  If you have more than one invoice owing for the same customer you can fund them together in one lump sum. If the Customer is wishing to fund other invoices at a later date, we enter into a new loan agreement for this new invoice.

What happens if my Customer wants to “add to” the services I’m providing after the Pet funding has already been arranged (ie buy more?)

Once a loan is in place, it’s difficult to alter the funding figures, so the easiest way is to start a new loan for the added amount and to have two loans running in parallel.

How do you treat my Customer?

Rest assured that we treat your customer with the utmost professionalism and respect at all times.  We stake our reputation on it.