Members from the CCBA Executive met with the Minister of Finance, Grant Robertson, on Monday. Grant was interested in hearing about the challenges business are facing in central Christchurch and each member of the executive spoke to the challenges being faced by businesses in their parts of the city and also within their particular sectors.
Top photo from the left: MP Christchurch Central - Dr Duncan Webb, Antony Gough, Minister of Finance - Hon Grant Robertson, Annabel Turley, Shaun Stockman, Scott Wilson, Jono Moran and Nicki Carter
Bottom Photo: Rowena Watson
The Government has launched a Business Finance Guarantee Scheme for small and medium-sized businesses, to protect jobs and support the economy. The Crown in partnership with participating approved banks will support targeted new loans (including increases to existing limits) to eligible businesses, as a response to difficulties caused by COVID-19.
Under the scheme, businesses with annual revenue between $250,000 and $80 million can apply to their banks for loans up to $500,000, for up to three years. The scheme will offer a total of $6.25 billion in loans to New Zealand businesses.
The Government is guaranteeing 80% of the risk, while the banks are covering the remaining 20%. A normal lending process will be followed by the banks, which will make the lending decisions. Further details can be found on the banks' websites.
For more information:
All businesses are required to display government generated QR code posters at all premises from 12pm on Wednesday 19 August. If you have not got your business sorted, find out how to get your QR code poster and what to do if you have multiple sites.
Download it HERE