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How is the credit crunch biting small businesses seeking loans? Changes to the Credit Contracts and Consumer Finance Act (CCCFA), which were intended to protect borrowers from loan sharks, are now making it harder for some businesses seeking credit, not just for home buyers applying for mortgages. The latest figures from the New Zealand owned and operated credit reporting bureau Centrix shows it is far more difficult across the board to access credit under the new rules. Centrix managing director Keith McLaughlin tells Kathryn it takes longer, costs more, there's greater disclosure required and more applications are being declined. Also joining, co-founder of small business platform, Manaaki, Andy Hamilton.
