NZ Business Funder Facebook

[2023] NZHC 64

COMPLAINT NUMBER	23/064
ADVERTISER	NZ Business Funder
ADVERTISEMENT	NZ Business Funder Facebook
DATE OF MEETING	12 April 2023
OUTCOME	Settled

Advertisement: The sponsored Facebook advertisement for NZ Business Funder promotes that “Applications for The Official 2023 Small Business Relief Program are now open.”. The advertisement went on to provide more details about qualifying for the offer.

The Chair ruled the Complaint was Settled.

Complaint: This Facebook ad is misleading as it looks like it could be a govt approved recovery from Cyclone Gabrielle - when. Its simply an Australian loan company touting for business You pop details in & an email is then sent out inviting you to apply for a business loan. It's not until the application stage does the business revel who is the lender The ad is misleading as anyone can apply for the loans - they have no connection to. The Cyclone recovery & it takes 3 steps before you know who the lender is which Is dishonest.

The relevant provisions were Financial Advertising Code – Principle 1, Principle 2, Rule 1(a), and Rule 2(b)

The Chair noted the Complainant was concerned the advertisement was misleading as it was not clear who the advertiser was and it appeared to be an advertisement for government assistance.

The Chair accepted the complaint to go before the Complaints Board to consider whether the Advertising Standards Code had been breached.

As part of the self-regulatory process, Advertisers have the option of amending or removing their advertising to comply with the Advertising Codes. Upon receipt of the complaint the advertiser confirmed it had removed the advertisement.

Given the Advertiser’s co-operative engagement with the process and the self-regulatory action of removing the advertisement, the Chair said that it would serve no further purpose to place the matter before the Complaints Board.

The Chair ruled that the matter was Settled.

23/064

Chair’s Ruling: Complaint Settled

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