We’re a person-to-person lending service.
We use funding from people keen to invest, and lend it to people who want to borrow for things like renovations, marriage, a new car or starting a family.
Our service is designed to be fast, easy to use and secure. Our peer-to-peer lending platform was custom built in-house by our own Squirrel Money developers. And, we’re totally transparent about what’s happening with your money.
* Borrower rates and Investor returns will vary depending on the term, the loans available and other market conditions. Loan Shield is not an insurance product and does not guarantee that investors will get all of their funds back.
How it works
Borrowers submit an online loan application for anything between $3,000 and $70,000. We run checks to make sure they are creditworthy. Once they are approved we match the Borrower with Investors offering the lowest interest rates until the loan is fully funded. Once approved, in most cases the money will be ready to draw down within 24 hours.
How we’re different
Peer-to-peer, or as we like to call it, person-to-person is still just lending, but it’s a new and better way of doing it. We let market supply and demand determine interest rates, meaning that both Borrowers and Investors get to use Squirrel Money on their own terms. Squirrel Money are the first in NZ to introduce a secondary market that allows investors to sell their investments back into the Squirrel Money marketplace. We’re also the first P2P lender in NZ to use Loan Shield, a reserve fund to cover any expected credit losses. And, we’re not owned by a bank, making us an authentic P2P company.
We operate with full transparency. Know where your money is coming from, and what’s happening behind the scenes. It’s no secret how we get our funding and we’re not afraid to bare all, including how we manage risk with Loan Shield, our reserve fund.
With Squirrel Money you’ll be treated as a person, not a number. We’re not an institution, we’re real people and our online platform is designed to be as intuitive as possible. Our developers are constantly squirreling away in the background to make things better and we’re totally open to suggestions from you.
Borrowers get a say on the interest rate they want to pay and Investors can decide on the returns they’re after. We reckon you’ll be hard-pushed to find better rates elsewhere. Plus, our loan amounts and terms are flexible, as we get that things in life can change. Can’t say fairer than that, eh?
Meet the team
Squirrel Money is run by an experienced team led by JB. The Squirrel brand has been in the New Zealand marketplace 7 years as a mortgage broker so we’re no spring chickens. We’ve always been passionate about helping Kiwis make better financial decisions. We’re a company of people who love what we do and it’s a relaxed vibe in the Squirrel offices. No ties (unless that’s your thing), and plenty of jandals make an appearance over summer. If you’re interesting in finding out more about what it’s like to be part of the Squirrel Money team, check out our career opportunities page.
Credit Manager/Project Adviser firstname.lastname@example.org
Ash has joined the team as the executioner – oops – credit manager, after a year exploring the rainforests and peaks of South America. He also has experience in the banking world as well as a couple of BA’s so don’t bother trying any funny business if you want your loan approved. You could, however try bribing him with pizza or drop rugby into the conversation to distract him.
Education: Bachelor of Commerce (majoring in Finance) and a Bachelor of Property.
Professional background: 5 years of banking and finance experience (4 years at BNZ), mostly in corporate lending and finance.
Marketing Manager email@example.com
Chief Squirrel firstname.lastname@example.org 027 247 7476
Operations Manager email@example.com 0800 21 22 33
Education: Bachelor of performance in Music, Post-grad diploma in Secondary School Teaching
Professional background: 8 years at ASB and Sovereign in all aspects of mortgage operations and process improvement.