Kiwibank to honour spirit of govt-backed business loans

Tue, 31 Mar 2020

Kiwibank intends to abide by the spirit of the government's $6.25 billion business finance guarantee scheme and will be assessing borrowers' solvency based on how they were performing before the nation's shutdown.While the business community is calling on the government to relax insolvency laws during the coronavirus crisis to make it easier for directors to make decisions and easier for banks to lend, Kiwibank has decided to follow the spirit of the guarantee scheme, chief economist Jarrod Kerr told BusinessDesk.Australia and Britain have alre...

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