Banks have lent only $23m of the govt's $6.25b business lending scheme

Banks have lent only $23m of the govt's $6.25b business lending scheme
Jenny Ruth
New figures from the New Zealand Bankers' Association show why Finance Minister Grant Robertson has appeared frustrated about the lack of lending under the government's $6.25 billion business finance guarantee scheme. NZBA said only 174 loans worth a total of $23 million have been lent by banks under the scheme to date. The organisation said BFGS loan applications take about 10 working days to process and that most of the loans approved so far were approved using the initial eligibility conditions. Last Friday, the Treasury changed tho...

More Finance

Surcharge ban may not be a win for consumers
Finance

Peter Griffin: Surcharge ban may not be a win for consumers

There are winners and losers in the surcharge move.

Peter Griffin 30 Jul 2025
FNZ employee shareholders stake claim at $7.7b
Finance

FNZ employee shareholders stake claim at $7.7b

The claim has been lodged in the High Court at Wellington.

Victoria Young 29 Jul 2025
FMA warns lenders on mortgage fraud
Finance

FMA warns lenders on mortgage fraud

The FMA sees dangers for borrowers if lenders aren't vigilant.

Staff reporters 25 Jul 2025
‘Teflon Man’ Neil Quigley’s next big job
Finance Analysis

Pattrick Smellie: ‘Teflon Man’ Neil Quigley’s next big job

Is the RBNZ lining up a Canadian replacement for Adrian Orr?

Pattrick Smellie 23 Jul 2025