We’ve made lending available through the Government’s Business Finance Guarantee Scheme loan to help you and your business.

About the loan

The Government has entered into an agreement with banks in New Zealand, under the Business Finance Guarantee Scheme, to support New Zealand businesses facing hardship as a consequence of COVID-19 to do one or more of the following:

  • To respond to the impacts of COVID-19;
  • To position themselves for recovery from the impacts of COVID-19; or
  • To recover from the impacts of COVID-19.

It will assist customers who meet the eligibility criteria with financial support in the form of a loan.

You'll remain liable for the repayment of the loan including interest. The Government guarantee is in favour of Kiwibank. If you're unable to repay the loan, we'll first seek to recover the whole of the outstanding balance from you and any given security through existing recovery procedures. The Government will cover 80% of the risk and we'll cover 20% of the risk in the event of any shortfall.

How much you can apply for

The maximum loan amount is $5 million for a maximum term of five years.

However, each business is different so consider what loan your business will need based on your industry, the cost to reposition your business and how long it'll take to recover – i.e. what liquidity is required in the short and medium term?

Availability period

The Business Finance Guarantee Scheme loans are available up to (and including) 30 June 2021.


Your business would:

  • Be a New Zealand-based business;
  • Have had in its most recently completed financial year (or if the business has been operating for less than one full financial year, expects to have in its first full financial year) revenue of up to $200 million;
  • Not be involved in any excluded activity;
  • Not be a residential or commercial property investor or developer;
  • Not be a local authority, a council-controlled organisation or a council organisation;
  • Not be a borrower under a Business Finance Guarantee Scheme loan with another bank.

Business Finance Guarantee Scheme loans are subject to credit and lending criteria.

Frequently asked questions

What won’t be covered?

The loan can't be used to fund any of the following:

  • Distribution of dividends outside of the borrower’s group;
  • On-lending outside the borrower's group;
  • Any excluded activity;
  • Residential or commercial property development or investment;
  • Repayment or refinancing of any existing debt to Kiwibank that exceeds 20% of your current limits unless agreed by Kiwibank (exclusions apply).

If your application is successful, you'll be required to enter into Kiwibank's standard loan agreement and supporting documentation for this offer including providing any necessary security.

How will the loan be repaid?

As with any loan, you'll remain responsible for paying the full amount including interest.

Regular loan repayments will cover principal and interest on your loan. Depending on your individual circumstances, there may be additional support options such as interest-only or repayment deferment available to you.

The maximum loan term is five years.

What information would I need to provide about my business for the loan application?

Normal bank lending criteria will apply.

We'll need information to make an assessment on your loan application. You'll need to supply us with your latest financial information, recent management accounts and your debtor and creditor positions. We require this information to understand how your business has been impacted by COVID-19 and your future plans.

What are excluded activities?

An excluded activity means any of the following:

  • The manufacture of cluster munitions;
  • The manufacture or testing of nuclear explosive devices;
  • The manufacture of anti-personnel mines;
  • The manufacture of tobacco;
  • The processing of whale meat;
  • The manufacture or distribution of recreational cannabis;
  • The manufacture of civilian automatic and semi-automatic firearms, magazines or parts;
  • Any activity which is illegal in New Zealand.

Subject to changes in Business Finance Guarantee Scheme loan rules.

Apply for the loan

Please complete our support form to apply for the Business Finance Guarantee Scheme loan and one of our business banking team will be in touch with you. You can also contact your Relationship Manager directly.