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

Fri, 08 May 2020

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...

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