Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


ASB launches NZ's first Rural Environmental Compliance Loan

Media Release
Monday 25 February 2013

ASB launches New Zealand’s first Rural Environmental Compliance Loan

ASB has launched New Zealand’s first Rural Environmental Compliance Loan, which provides a low cost funding option to assist farmers to get the balance right between productivity and environmental sustainability.

The new product is targeted at farmers looking to invest on-farm to upgrade their environmental compliance systems. It is competitively priced at ASB’s cost of funding with no additional customer margin applied.

ASB recognises the farming sector is the driving force of the New Zealand economy and that it is important that New Zealand’s farmers get the balance right between productivity and environmental sustainability, and organisations like ASB help them to achieve this.

“We have developed the Rural Environmental Compliance Loan in response to feedback from our rural customers,” says Mark Heer, ASB General Manger Rural.

“Farmers consistently tell us that they are doing their best to ensure that their farms are operating to the highest environmental standards. However, the reality is that there can be considerable costs associated with upgrading systems, including the fencing of waterways, which are all part of operating an environmentally-responsible farm.”

“At the same time, local government regulations have been tightening around the management of effluent, nitrate leaching and water usage on farms so farmers must ensure they are compliant or risk fines. Farmers are facing all these pressures while at the same time trying to focus on the productivity and profitability of their business.”

“In offering this new loan, ASB wants to be part of the solution by providing farmers with a low cost funding option to get their farm to where it needs to be to remain compliant and profitable. This will make sure that New Zealand farmers maintain their global advantage and maximise opportunities,” concludes Mr Heer.

Loans are available to New Zealand farmers for environmental compliance purposes up to a maximum of $200,000 and over a maximum five-year term.

For more information visit asb.co.nz/comply

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Fruitful Endeavours: Kiwifruit Exports Reach Record Levels

In June 2016, kiwifruit exports rose $105 million (47 percent) from June 2015 to reach $331 million, Statistics New Zealand said today. Overall, goods exports rose $109 million (2.6 percent) in June 2016 (to $4.3 billion). More>>

ALSO:

Economic Update: RBNZ Says Rate Cut Seems Likely

The Reserve Bank will likely cut interest rates further as a persistently strong kiwi dollar makes it difficult for the bank to meet its inflation target, it said. The local currency fell. More>>

ALSO:

House Price Action Plan: RBNZ Signals National Lending Restrictions

The central bank wants to cap bank lending to property investors with a deposit of less than 40 percent at 5 percent and restore the 10 percent limit for owner-occupiers wanting to take out a mortgage with a deposit of less than 20 percent, according to a consultation paper released today. More>>

ALSO:

Sparks Fly: Gordon Campbell On China Steel Dumping Allegations

No doubt, officials on the China desk at MFAT have prided themselves on fashioning a niche position for New Zealand right in between the US and China – and leveraging off both of them! Well, as the Aussies would say, of MFAT: tell ‘em they’re dreaming. More>>

ALSO:

Loan Sharks: Finance Companies Found Guilty Of Breaching Fair Trading Act

Finance companies Budget Loans and Evolution Finance, run by former 1980s corporate high-flyer Allan Hawkins, have been found guilty of 106 charges of breaching the Fair Trading Act for misleading 21 borrowers while enforcing loan contracts. More>>

ALSO:

Post Panama Papers: Govt To Adopt Shewan's Foreign Trust Recommendations

The government will adopt all of the recommendations from former PwC chairman John Shewan to increase disclosure and introduce a register for foreign trusts with new legislation to be introduced next month. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news