The Small Business Cashflow Loan Scheme
Businesses who employ fewer than 50 staff could be eligible for loans of $10,000 plus $1,800 per full-time staff member, thanks to the Government’s Small Business Cashflow Loan Scheme running until 31 December. To apply, there is a list of things you’ll need, including your NZBN and proof that due to Covid-19 your business suffered a 30% drop in actual or predicted revenue between January and June this year. Find out more here.
The Business Finance Guarantee Scheme
The Business Finance Guarantee Scheme supports operating cashflow disrupted due to Covid-19. Participating banks can provide new loans, increased limits to existing loans or a revolving credit facility to eligible businesses. The scheme supports banks to take on lending by the government taking on the default risk of up to 80% of the loan. Find out more on the MBIE website.
The Provincial Growth Fund
Businesses operating outside of Auckland, Wellington and Christchurch could get a piece of a $3 billion pie, as part of the Provincial Growth Fund. This fund aims to help grow economic development in the regions over the next three years. Click here to find out if you’re eligible.