The Angel Women's Loan Fund - Wahine Putea - offers two different types of loans, either a Business Loan for startup or expansion, or a Training/Education Loan which provides funds towards a course or training. Please read through our loan policies below if you are considering applying for a loan.
Our Business Loans Policy
Business loan applications can range from Cottage Industries to Consultancy Firms or wanting to promote a Rock Star! Women who require a business loan usually show motivation and innovation and a great longing to fulfill their dreams. The Nelson Angel Women’s Loan Fund may be able to help you get started. The Fund has a flexible lending policy but most loans are between $250 and $1500.
1. It is preferable for a woman or women who want a loan to set up a business to have first completed a Small Business Course, and have a business plan plus a cash flow forecast as evidence of the viability of the proposed scheme.
2. If your proposed business is a very small one, the above points are still desirable but not absolutely necessary. However, you should still be able to provide a document that supports your application with points such as:
- A description of your proposed business.
- A list of all expenses/costs such as materials, labour advertising, etc.
- A list of any incoming money, e.g. other loans or savings that may help your business get started.
- How many units/products/services you think you can sell over what period of time.
- How much you would charge for your product or service.
- A note saying whether you need to abide by any regulations/bylaws or require any licences.
3 A woman or women who want money to expand a business should have financial records of the commercial activity, letters of support (if appropriate) and an updated Business Plan. Click Here to download our One Page Business Plan.
Our Training/Education Loan Policy
The Nelson Angel Women’s Loan Fund – Wahine Putea accepts applications for loans for the purposes of training or education.
1. All women should have a clear idea of how they are going to repay the loan. It is expected that all loans are repaid within twelve months of receiving the loan.
2. In some cases, the approved loan money may be paid direct to the institution providing the training/education.
3. With your application please provide a description of the training or educational opportunity. A brochure/pamphlet or publicity material would be helpful.
4. Please provide an official quote/cost of the course/training you are seeking a loan for.
5. Women may be contacted by the Nelson Angel Women’s Loan Fund co-ordinator after attending the course.
The application form which is used for either type of loan can be downloaded here.
Please, either print and complete in full then return to the address stated, or download, fill it in and email the completed form back to us.
The Trustees generally meet on the final Friday of each month, and decisions about the granting of loans are made then. Each applicant will be contacted as soon as possible after the next meeting and an interview will be arranged which you must be readily available for. A successful applicant will receive their funds immediately after the contract is signed. An unsuccessful applicant will be given reasons why they were turned down, and will be provided with support or recommendations.
See our Notes For Borrowers form to gain a better understanding of the loan process.