Development West Coast (DWC) can provide a range of commercial financing options to West Coast businesses, including lending and even direct equity investment in some cases.

Businesses considering approaching DWC for a loan or investment capital must demonstrate that they meet the objects of the Deed to promote sustainable employment or generate economic benefit to the West Coast region. 

DWC expects applicants to contribute an appropriate level of equity and demonstrate enthusiasm and commitment to their project.  Similar to a bank, DWC also seeks appropriate security against any facilities. 

                                       Commercial Finance Pamphlet                                                      Commercial Finance Application Form


S’All Good Juice Bar, Hokitika

As a new business concept for Hokitika and providing employment for the town, DWC was pleased to support Tracey Rich and her S’All Good Juice Bar with a commercial loan.

Tracey says the opportunity for a leg up from DWC was a turning point – she had not been able to secure the level of finance assistance she needed from the banks and would not have been able to open her business otherwise.

“I am very grateful for the opportunity DWC’s assistance has given me, and also the amazing support from the Hokitika business community. It feels good to be contributing to the town’s economic success.”

Over the peak summer months Tracey has had up to 10 part-time staff on board, and over the quieter winter months she has diversified the business to selling hot soup.

“It's all going well. I have a lot of regular customers and I expect to get back to a level of needing six or seven staff again this summer”, says Tracey.


Criteria and process

DWC is specifically excluded from investing in local and central government infrastructure, and cannot provide grants to businesses or to any organisation that may affect DWC's charitable status.

It is the applicant's responsibility to provide adequate information to allow DWC to make an informed decision in respect to the viability of any proposal. It is recommended that where appropriate applicants seek the assistance of their advisors i.e. accountant / legal adviser etc.


Application process

  1. Initial discussions with a DWC Business Development Manager.
  2. Applicant prepares a "Statement of Intent" for consideration by DWC Management.
  3. Management provides feedback on the proposal.

To minimise the possibility of incurring significant expenditure on a full application, which may be rejected, the "Letter of Intent" allows applicants to gain feedback from management around their proposal. Managements' response on any proposal is not a decision and the applicant must decide whether to proceed with a full commercial application or not.

  1. The applicant decides to;

                              (i) Proceed with a commercial application, or

                              (ii) Not proceed.

                     2.  The applicant lodges a commercial application with Development West Coast.

Applications requesting up to $250,000

(Some applications in this category may be considered under delegated authority by the CEO if the request is under $100,000).

  1. The application is assessed by Development West Coast management.
  2. Management may seek Advisory Body input.
  3. Management provide a recommendation to Development West Coast Trustees.
  4. Trustees decide to:

                            (i) Approve the application, or

                            (ii) Decline the application.

                      5.   Applicant advised of Trustee decision.

Applications requesting $250,000 and above; 

  1. The application is assessed by DWC management.
  2. The application along with Managements' comments and recommendations is considered by the Advisory Body.
  3. The Advisory Body provide a recommendation to DWC Trustees
  4. Trustees decide to:

                            (i) Approve the application, or

                            (ii) Decline the application.

                     5.   Applicant advised of Trustee decision.

Development West Coast will not provide any commentary around applications that are declined.

Advisory Body and Trustee meetings are held monthly. Therefore a realistic time frame for consideration of commercial applications is around 8 to 10 weeks.

COMMERCIAL LENDING MANAGER

Whatever stage your business is at, whether it is a start-up or a well-established firm wanting to extend its export capability our Commercial Lending Manager Sharon Gibb is your first port of call.

Highly knowledgeable expert with extensive networks throughout the region, Sharon can provide you with advice and point you in the right direction. Sharon will know where to find expertise and support and where to locate technical or commercial personnel who can help you with your business and assist your company to grow.

Sharon Gibb  

Email This email address is being protected from spambots. You need JavaScript enabled to view it.

To make an appointment with Sharon contact DWC on 0800 768 0140