Covid-19: Business finance guarantee scheme

In order to protect jobs and support the economy, the Government has launched a guarantee scheme for business finance for small and medium-sized enterprises. Targeted new loans (even upgrades to existing limits) for eligible companies are funded by the Crown, in partnership with the participating approved banks, to address problems caused by COVID-19.

The scheme allows companies that have annual revenues of between $250,000 and $80 million to borrow up to $500,000 from their banks for up to three years. The scheme will provide New Zealand enterprises with a total loan of $6.25 billion.