Month: February 2020

Indebted farmers offered $6000 to receive financial advice

“It’s not a concern about any significant uplift in farmers in distress. No bank wants to see any business fail. To put it into perspective, there are about 52,000 farms and there are fewer than 10 mortgagee sales a year,” Beaumont said.

Coronavirus affected customers urged to talk to their bank

The New Zealand Bankers’ Association is encouraging businesses and individuals financially affected by coronavirus (Covid-19) to talk to their bank. “We’re aware that some businesses, particularly small to medium sized ones, are being financially impacted by this unfolding global issue. The same may apply to individual customers working in sectors directly affected. Banks can offer… Read more »

Initiative for struggling farmers launches

“There’s a recognition it’s in everyone’s best interest for a farmer to have up-to-date business and financial plans,” said New Zealand Bankers’ Association chief executive Roger Beaumont. 

New fund to get advice for struggling farmers is now open

A new initiative funded by banks and the government offering support for farmers struggling with farm debt is now up and running.  The government has allocated $200,000 for the Farm Business Advice Support Fund, to be managed by Rural Support Trusts. For a qualifying farmer the fund will provide up to $6,000 to pay for… Read more »