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

 

Superu Report: Land Regulation Drives Auckland House Prices

Land use regulation is responsible for up to 56 per cent of the cost of an average house in Auckland according to a new research report quantifying the impact of land use regulations, Finance Minister Steven Joyce says. More>>

ALSO:

Fletcher Whittled: Fletcher Dumps Adamson In Face Of Dissatisfaction

Fletcher Building has taken the unusual step of dumping its chief executive, Mark Adamson, as the company slashed its full-year earnings guidance and flagged an impairment against Australian assets. More>>

ALSO:

No More Dog Docking: New Animal Welfare Regulations Progressed

“These 46 regulations include stock transport, farm husbandry, companion and working animals, pigs, layer hens and the way animals are accounted for in research, testing and teaching.” More>>

ALSO:

Employment: Most Kiwifruit Contractors Breaking Law

A Labour Inspectorate operation targeting the kiwifruit industry in Bay of Plenty has found the majority of labour hire contractors are breaching their obligations as employers. More>>

ALSO:

'Work Experience': Welfare Group Opposes The Warehouse Workfare

“This programme is about exploiting unemployed youth, not teaching them skills. The government are subsidising the Warehouse in the name of reducing benefit dependency,” says Vanessa Cole, spokesperson for Auckland Action Against Poverty. More>>

ALSO:

Internet Taxes: Labour To Target $600M In Unpaid Taxes From Multinationals

The Labour Party would target multinationals operating in New Zealand to ensure they don't avoid paying tax if it wins power and is targeting $600 million over three years through a "diverted profits tax," says leader Andrew Little. More>>

ALSO: