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Financial support for businesses dealing with COVID-19 impacts

In order to get businesses and employees through the impacts of COVID-19, the government and banks have made a number of options available.

Government economic recovery package

The government has committed significant support to help the economy, workers and businesses through COVID-19, including:

  • A wage subsidy scheme and essential workers' leave support
    • Apply here or call 0800 40 80 40 (Work and Income NZ) if you have any questions about these payments
  • A small business cashflow loan scheme with interest-free loans of up to $100,000 for up to a year
  • Business Tax Support, including a tax loss carry-back scheme
  • Hardship grants

Find out more about government financial support here or for details about the substantial non-financial support that is available, see here.

Support available through your bank

Existing credit

  • Mortgage interest and principal repayment deferrals are available for up to 6 months
  • Many banks are offering suspensions of loan payments on business loans and credit cards

New credit

  • In partnership with the government, a Business Finance Guarantee Scheme makes loans of up to $500,000 available for eligible individual businesses to meet urgent liquidity or bridging finance needs
  • Banks can also offer options such as an overdraft facility