Media Appearances
Media / Media Appearances
Media Appearances
Media Appearances
Business Desk - Banks have lent only $23m of the govt’s $6.25b business lending scheme
- Beaumont said banks are “responsible lenders” and the BFGS doesn’t change that. “Businesses borrowing under the scheme still need to see a way of repaying the loan.”
Media Appearances
NZ Herald - Mortgage wars: Banks cut rates below 3 per cent but first home buyer caution urged
- As of an update posted yesterday on the New Zealand Bankers Association website 105,035 loans had been reduced or payments deferred on them totalling loans worth $36.9 billion.
Media Appearances
NZ Herald - Slow up-take up on Govt-backed business loan scheme: just $23 million lent out of potential $6.25 billion
- “Because it was paid upfront the wage subsidy has meant that many businesses have not yet had the need to look for other assistance. Many businesses needing a loan so far have, for example, opted to quickly roll over short-term funding or extend overdrafts already in place with their bank.”
Media Appearances
Newshub - ‘Strict criteria’ stops banks from helping businesses under government-backed scheme
- “There were quite strict criteria around who was eligible for the [Finance Guarantee] scheme.” He said banks had loaned an extra $7.2 billion outside the scheme, through other financing options.
Media Appearances
Business Desk - Govt’s $6.25b business guarantee better for later lending: banks
- “In our view, the scheme supports longer-term lending. Businesses are more likely to be confident of applying for loans under the scheme only once they have formed a clearer view of their longer-term prospects and needs,” NZBA chief executive Roger Beaumont said.
Media Appearances
Stuff - Coronavirus: Billion-dollar-profit banks must show they care about NZ in bad times, Shane Jones says
- “So far, many businesses needing a loan have, for example, opted to quickly roll over short term funding or extend overdrafts already in place with their bank.”
Media Appearances
RNZ - Banks defend Covid-19 response after criticism they aren’t doing enough
- “Since we went into lockdown on 26 March our banks have lent $9.6 billion to over 41,000 personal and business customers. This includes $6.4b in new lending to business, which is separate from the government’s shared risk Business Finance Guarantee Scheme that has a lending limit of $6.25b.
Media Appearances
Stuff - Government offers small firms zero and low-interest loans up to $100,000
- The Bankers Association responded to Robertson’s comment that banks had not met the lending expectations of the Government by saying banks had lent $6.1b to businesses since the country went into lockdown on March 26.
Media Appearances