The company missed the March 1 deadline to have a credit rating, though it said it will obtain one from Standard & Poor's within 24 hours.

It needs a BB rating to meeting the entry requirements for the government's extended retail deposit guarantee scheme.

Allied Nationwide Finance will also look to tap its parent to meet the central bank's capital requirements due to come into effect in September.

The finance company posted a loss of $1.2 million in the six months through December compared to a loss of $1.6 million a year earlier, even as it boosted its revenue 9.9% to $21.7 million.

"While the result is disappointing, it was reflective of the difficult trading environment present during the course of 2009," chairman John Loughlin said. "The parent remains committed to positioning Allied Nationwide as a long-term participant and leader in the New Zealand non-bank finance sector."

Allied Nationwide slashed borrowings $90 million to $295 million, though its loan book fell 14% to $280 million and it marked a net decline of $26.7 million in its deposits.

About 65% of its loan book is made up of business asset finance for small- and medium-enterprises, and it has less than 15% exposure to the property sector.

It plans to continue to focus on business lending, and to grow its rural loan book.