Another option identified by the RBNZ is promoting greater representation of Māori across organisations and investing in cultural awareness education.
The issues paper comes as the RBNZ faces criticism from the likes of opposition parties and former central bankers for supposedly getting distracted by issues like this at the expense of it doing its core job of controlling inflation.
The RBNZ front-footed the matter, starting its paper with a foreword from Governor Adrian Orr, who made the case for why the RBNZ should put resources towards researching Māori access to capital.
Orr noted the purposes of the Reserve Bank Act is to "promote the prosperity and wellbeing of New Zealanders and contribute to a sustainable and productive economy".
He also pointed to relevant parts of the RBNZ's monetary and financial policy remits, which require it to encourage new investment and financial innovation that raise the productive potential of the economy, and encourage the allocation of financial resources in a way that maximises the sustainable of the economy.
As for the details of the paper, the RBNZ found Māori-owned businesses face higher funding costs than non-Māori businesses.
"The implied annual interest rate on liabilities for Māori businesses is around 50 basis points higher than for non-Māori businesses," the RBNZ said.
It noted Māori firms tend to have characteristics that impede their access to capital.
"On average, Māori firms have higher debt ratios, less debt funding from shareholders, and slightly lower productivity compared to non-Māori businesses," the RBNZ said.
"Māori businesses are also more likely to operate with negative equity while the working proprietors of Māori firms tend to be younger compared to non-Māori businesses."
Furthermore, the RBNZ noted 8 per cent of companies have at least one Māori shareholder or director, despite Māori making up 17 per cent of the population.
The RBNZ came to these figures using Inland Revenue and Statistics New Zealand Census data.
Engagements with 42 Māori capital seekers, 14 banks and capital providers, and eight government agencies also led it to identify barriers to Māori accessing capital.
A key issue is that lenders are wary of lending against communally held land. This is because they may struggle to sell the land the loan is secured against in the event of a default.
Māori land ownership is extremely fragmented, with an average of 111 owners per block of land, the RBNZ said.
Furthermore, Māori businesses may find it more difficult than Pakeha to secure loans against their homes, as the Māori home-ownership rate was 31 per cent in 2018, below the rate of 52 per cent across the total population.
The RBNZ also said many Māori capital seekers felt the financial sector lacked understanding of their intergenerational focus and long-term investment horizons.
"This requires a broader focus beyond short-run profits and taking account of the transformative effect an entity may have on local employment and the broader community," the RBNZ said.
"Capital seekers thought that a lack of financial sector experience and knowledge within Māori communities added to the difficulty in accessing capital."
The RBNZ also identified "a lack of scale, co-ordination and understanding in the Māori business funding system" and "systemic leadership and decision-making shortcomings in the financial sector" as issues.
Orr said the matter is important, because it puts Māori "at risk of missing the full benefits of the financial system and carrying unrewarded risk and cost".
"Negative outcomes could include rising exclusion, inequality, and the degradation of general wellbeing."
The public has until September 20 to make submissions on the paper.
