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

 

Scoop Business: RBNZ Keeps OCR At 3.5%, Signals Slower Pace Of Future Hikes

Reserve Bank governor Graeme Wheeler kept the official cash rate at 3.5 percent and signalled he won’t be as aggressive with future rate hikes as previously thought as inflation remains tamer than expected. The kiwi dollar fell to a seven-month low. More>>

ALSO:

Weather: Dry Spells Take Hold In South Island

Many areas in the South Island are tracking towards record dry spells as relatively warm, dry weather that began in mid-August continues... for some South Island places, the current period of fine weather is quite rare. More>>

ALSO:

Scoop Business: Productivity Commission To Look At Housing Land Supply

The Productivity Commission is to expand on its housing affordability report with an investigation into improving land supply and development capacity, particularly in areas with strong population growth. More>>

ALSO:

Forestry: Man Charged After 2013 Death

Levin Police have arrested and charged a man with manslaughter in relation to the death of Lincoln Kidd who was killed during a tree felling operation on 19 December 2013. More>>

ALSO:

Smells Like Justice: Dairy Company Fined Over Odour

Dairy company fined over odour Dairy supply company Open Country Dairy Limited has been convicted and fined more than $35,000 for discharging objectionable odour from its Waharoa factory at the time of last year’s ”spring flush” when milk supply was high. More>>

Scoop Business: Dairy Product Prices Decline To Lowest Since July 2012

Dairy product prices dropped to the lowest level since July 2012 in the latest GlobalDairyTrade auction, led by a slump in rennet casein and butter milk powder. More>>

ALSO:

SOE Results: TVNZ Lifts Annual Profit 25% On Flat Ad Revenue, Quits Igloo

Television New Zealand, the state-owned broadcaster, lifted annual profit 25 percent, ahead of forecast and despite a dip in advertising revenue, while quitting its stake in the pay-TV Igloo joint venture with Sky Network Television. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand

Mosh Social Media
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news