Update on the Business Finance Guarantee Scheme

Last September, we wrote about the relaunch of the Business Finance Guarantee Scheme. At that time, uptake was low (only about $150M), and while this increased over the final few months of 2020 the total uptake has been well below Treasury expectations. As of early December, less than $850M had been lent under the scheme, out of a $6BN “chequebook” made available by the government.

Therefore, the scheme has now been extended to 30 June 2021. To review our previous article on this scheme, read more here https://www.financenz.co.nz/news/relaunch-business-finance-guarantee-scheme