Publicly Available Disclosure

Credsol Business Services Digital Services

Licensing Information

Credsol Financial Services Limited FSP#743011 holds a transitional license issued by Financial Market Authority and New Zealand's registered entity (NZBN# 9429045870088) which was incorporated on 9th December 2016 with the aim to provide financial services. Please note and advise Credsol Financial Services Limited will not be providing any financial servicing pertaining to consumer finance needs, therefore all applicants must ensure that any loan originated through Credsol Financial Services Limited will be purely for commercial and business needs.

Contact Details

Call Us: 0204 273 376

Email Us: complaints@credsol.co.nz

Our Address: Level 1, 586 Great South Road, Ellerslie, Auckland, New Zealand 1051

Scope of Advice

Credsol Financial Services Limited provides advice about

Asset Finance
Equipment Finance
Business Finance

Our Affiliations

Service Fee / Charges

In the normal course of business, we receive a commission from the lenders that we place clients' business with. The nature of this commission can be a single upfront commission (as a percentage of a commercial loan facility), an ongoing (trail) commission (as a percentage of a commercial loan facility), or a mix of both.
We may charge a one-off fee for work completed for clients which do not attract a broker payment from the lender, similarly, if the commercial loan is partially or fully repaid within 24 months of the commercial loan being drawn down, we reserve the right to charge you a fee for professional services.
A minimum fee of $3000 plus GST (“setup fee”) will apply to our engagement. Please note this amount may be capitalized in your commercial Loan. Please be advised that this amount may be paid through the drawdown of this commercial loan by the bank.
If your application is urgent and you require financing urgently, as a service provider we must stop work on other client files to service your urgent needs. As such, we will advise you if your time frame is urgent in nature and also advise you (prior to our engagement) if an additional fee of $500 plus GST is payable (“urgent fee”).
There is maybe an additional fee of 1.75 percent (based on the total loan value) where the commercial loan is required for the acquisition of land, property, or any business loan in addition to the setup fee where the commercial loan is approved by the lender.
There is an additional fee of 1.99 percent (%) (based on the total commercial loan value) where the loan is required for commercial purposes other than the acquisition of land or property (including where there land or property is used as security) in addition to the setup fee where the commercial loan is approved by the lender.
Any additional fees are payable upon approval of the commercial loan irrespective of whether the loan has been drawn by you.
The payment is due on approval of the commercial loan by the lender.
For clarity, if the commercial loan is approved, but you choose another channel, lender, or broker or you simply decide (for whatever reason) not to proceed with the commercial loan, the additional fees of 0.8 percent shall remain payable by you.
From time to time, we may receive certain monetary and non-monetary benefits from lenders. Such benefits must not and do not influence the placement of clients’ applications.

Conflict of Interest

Credsol Financial Services Limited receives commissions from some of the lenders for which we can provide recommendations. If you go ahead and use the lender that was suggested to you, the lender will pay a commission to your financial adviser. The commission is calculated depending on the amount of the loan; precise remuneration will be communicated to you when advice is provided.

To guarantee that our financial advisers put the client's interests ahead of their own, we use an advisory process that ensures our tailored suggestions are based on the client's goals and circumstances, as advised to us. Credsol Financial Services required advisers to undergo regular training, which included learning how to manage conflicts of interest. Each advisor does a monthly compliance review of their advising process, and our compliance program is audited annually by an outside compliance consultant.

Disputes and Complaints

If you are not satisfied with our financial advice or services, you can submit your internal complaints at complaints@credsol.co.nz or visit our internal complaint processing page. It gives us insights into problems that our clients are experiencing, which will help us regulate our services and empower clients to make informed financial decisions.

When Credsol Financial Services Limited receives a complaint, we will attempt to resolve it as quickly as possible. In the first place, We ask the adviser involved to attempt to resolve any concerns directly with the client, this sometimes is not possible and in these instances, the company will endeavor to act as an intermediary to look for solutions.

If we cannot reach an agreement on your complaint, you may refer your complaint to Financial Services Complaints Limited (FSCL). FSCL provides a free, independent dispute resolution service that may help investigate or resolve your complaint if we have not been able to resolve your complaint to your satisfaction. You can contact FSCL by phone 0800 347 257 or email complaints@fscl.org.nz. We value you raising your feedback with us, and hope to use these as part of our continuous improvement and education plans.

Duties Information

Credsol Financial Services Limited, and anyone who gives financial advice on our behalf, has duties under the Financial Markets Conduct Act 2013 relating to the way that we give advice. We are required to:

give priority to your interests by taking all reasonable steps to make sure our advice is not materially influenced by our own interests (431K)
exercise care, diligence, and skill in providing you with advice (431L)
meet standards of competence, knowledge, and skillset by the Code of Professional Conduct for Financial Advice Services (these are designed to make sure that we have the expertise needed to provide you with advice) (431I)
meet standards of ethical behavior, conduct, and client care set by the Code of Professional Conduct for Financial Advice Services (these are designed to make sure we treat you as we should and give you suitable advice).

This is only a summary of the duties that we have. More information is available by contacting us, or by visiting the Financial Markets Authority website at https://www.fma.govt.nz