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

 

Financial relief for Northland’s storm affected farmers

Media Release

15 July 2014

BNZ offers financial relief to Northland’s storm affected farmers

BNZ today announced a package to provide immediate financial relief for Northland farmers affected by last week’s storms.

BNZ’s emergency storm package will offer Northland farmers affected by the storms:

• Access to $10,000 immediate emergency funding at a special discounted rate of 6% to assist clients who have dire needs regarding personal welfare.

• A temporary (six month) overdraft of up to $100,000 at a special discounted rate of 6%

• No application fee.


Additional funds are available if required through normal approval channels.

The package is available from today to provide much needed relief from the financial pressure caused by the unusually stormy conditions experienced in Northland.

BNZ Northland managing partner, Sam Johnson says that unexpected extreme weather conditions coming at a critical time of the farming year, place significant short-term financial pressure on farmers and their families.

Right now Northland farmers need fast access to funds. They’re under enormous pressure due to the loss of income as a result of losses from the storms compounded with unexpected costs for additional feed as well as pasture and crop regeneration, which means cash flow is a significant issue.

“We want to offer some financial relief to allow farmers the time they need to make the right business decisions, protect livestock and look after themselves and their families,” says Mr Johnson.

Mr Johnson also urged any farmers worried about cash flow to speak to their accountant or bank as soon as possible.

“Short term cash flow issues are generally easily addressed, but it is important to tackle them early before the problems get bigger,” he says.

The relief package is open to BNZ agri-customers in Northland affected by the storms.

Ends


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

NZ's Space Programme: Rocket Lab Makes It To Space (But Not Orbit)

Electron lifted-off at 16:20 NZST from Rocket Lab Launch Complex 1 on the Mahia Peninsula in New Zealand. It was the first orbital-class rocket launched from from a private launch site in the world. More>>

ALSO:

Earlier:

Budget: Irrigate (Good Times, Come On!)

Additional grant funding of $26.7 million over the next three years plus a capital boost of $63 million towards irrigation investments in Budget 2017 will deliver economic and environmental benefits through better use of water... More>>

ALSO:

Silver Fern Farms: Proposal To Close Fairton Sheepmeat Plant

Silver Fern Farms has advised its people of the proposal to permanently close the site, and has discussed potential transfer options to its other sites in the region as part of the consultation process...
More>>

ALSO:

MPI: Myrtle Rust Appears In Taranaki

The nursery in Waitara (just north of New Plymouth) reported suspected myrtle rust symptoms on young plants to the Ministry’s 0800 number yesterday (Tuesday). More>>

ALSO: