We are committed to helping you through these challenging times.
Monday’s announcement that New Zealand is moving to COVID-19 Level 4 alert for a minimum of four weeks will clearly impact almost all New Zealand businesses.
During this time, all of the Finance New Zealand team will remain available to assist your business. All Finance New Zealand staff and business partners are working from home, so we are well placed to manage you through this time with minimal disruption to services, making it as easy as possible for you.
Since early February, our team has been working hard to support customers affected earlier such as forestry and tourism, but the need is obviously much wider now. This assistance has generally come in the form of interest only periods, payment holidays, or other forms of working capital assistance.
In general, the lenders we work with have been supportive, but the processes they need us to follow and degree of information they require does vary. Banks and other financial institutions are an “essential services” and will continue to operate during this time. All lenders are currently structuring their relief programs and business continuity processes for providing this support as their workloads will be unprecedented. We expect better clarity from each lender in coming days. It is our view that most lenders will need to apply a form of blanket relief package, with potential for some form of government mandate or support behind this.
Where we have facilitated lending for your business, we will be in contact to discuss your requirements, and then proactively work with each lender to smooth the process for the best outcome for you and your business.
We recognise this is a stressful time for New Zealand businesses, employees and families. We are all in this together so please stay safe and take care of yourselves and your loved ones during this challenging time.