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

 

Prefu Roundup: Forecasts Revised, Surplus Intact

The National government heads into the election with its Budget surplus target broadly intact, delivering a set of economic and fiscal forecasts marginally revised from May to reflect weaker commodity prices and a lower tax take. More>>

ALSO:

Convention Centre: Major New SkyCity Hotel And Laneway For Auckland

Today SKYCITY Entertainment Group Limited revealed plans to build a new hotel and pedestrian laneway of bars, restaurants and boutique shopping on land it owns in the Nelson and Hobson Streets block, expanding the SKYCITY Entertainment Precinct. More>>

ALSO:

Igniting The Spark: Bringing The Digital Enabler To Life

Changing a name is, relatively speaking, the easy part of a re-invention. Changing a culture, getting all the ducks in a row, turning yourself inside-out to become customer-inspired is a much bigger challenge. More>>

ALSO:

Ebola And NZ: Targeted Screening At Airport But Risk Low

The risk of any cases of Ebola in New Zealand remains very low, but health and border authorities are well prepared... anyone arriving in New Zealand who in the last three weeks has visited countries affected will be screened for symptoms of the disease. More>>

ALSO:

Scoop Business: Brewer Seeking Crowd-Funding Cancels Shareholders’ Dividends

Shareholders in Renaissance Brewing company, the first business to seek equity through crowd-funding in New Zealand, have cancelled their claim on $147,000 of accumulated earnings “to make Renaissance a more attractive investment opportunity.” More>>

ALSO:

It's Spark Now:
Why Telecom Wanted To Change

New Zealand led the world when Chorus demerged from Telecom. It gave us a telecommunications industry structure where the network is completely separated from the products and services it delivers. The changes brought about a new market dynamic and it dramatically changed Telecom’s role. More>>

ALSO:

Glass Half Empty: Dairy Prices Fall To Lowest Since 2012

Dairy product prices slumped to the lowest level since October 2012 in the latest GlobalDairyTrade auction, paced by whole milk powder and cheddar. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news