Finance
Explore the latest finance news by BusinessDesk's team of reporters around New Zealand.
Economy
Extend loan scheme to smaller businesses - NZ Initiative
The government's $6.25 billion business finance guarantee scheme should be widened to include small businesses with revenue of $100,000 or more, said the New Zealand Initiative. Currently, the scheme is open to businesses with turnover between $250,000 and $80 million as part...
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Economy
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Demand high as Treasury fine-tunes business loan guarantee scheme
First-day demand suggests the government's yet-to-be finalised $6.25 billion business loan guarantee scheme will be "highly utilised," ANZ Bank said.The government announced the business scheme before every aspect could be nailed down so that banks could start money flowing to di...
Economy
Banks to cease paying dividends, share buybacks - RBNZ
The Reserve Bank has agreed with the banks that they won't be paying dividends through the coronavirus crisis or redeeming any type of quasi equity and has included these prohibitions in the banks' certificates of registration."This initiative further supports the stability of th...
Economy
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Nine banks to start lending govt-backed $6.25b for business immediately
Nine banks have made the cut to participate in the government-backed $6.25 billion loan scheme to help businesses hit by the coronavirus crisis and subsequent national lockdown.Businesses with turnover between $250,000 and $80 million can begin applying for up to three-year $500,...
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