Wellington-based finance company St Laurence says it is struggling to make ends meet and needs more time to repay investors.
The company has stopped lending money because there's "too much risk and uncertainty" in property markets.
The company says it is not in default, but wants its 9000 investors to wait up to two years for the repayment of $240 million.
"We've taken this opportunity tell them that we're facing tough times, and that we really need their assistance to ensure we don't go into default in the future," says Kevin Podmore, St Laurence founder.
They say there is simply too much risk for its investors for it to continue money lending activities.
St Laurence blames its cash flow problems on late repayments by borrowers, and expects "things to get worse before they get better".
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