We’ve got a range of initiatives to support you or your business, if you’ve been financially impacted by COVID-19, We also have guides to help you bank from home. For all other updates, see our COVID-19 page.
All our branches have returned to normal trading hours. See our latest branch updates for more information.
We’re not just a bank, we’re a Kiwi bank, so we want to ensure you and your business are supported through the challenges we all face with COVID-19. On this page, you'll find information on Kiwibank's COVID-19 Relief and Resilience programme as well as information on the Government's Business Finance Guarantee Scheme loan.
Last updated: 3.00pm, 08.05.2020
On this page, you'll find information on:
Small and medium businesses are the backbone of the New Zealand economy and we’re here to support you through this difficult time. We’ve made new lending available through the government’s Business Finance Guarantee Scheme loan to help struggling businesses.
The Government has entered into an agreement with banks in New Zealand to support businesses facing hardship as a consequence of COVID-19 under the Business Finance Guarantee Scheme. This will assist customers who meet the criteria with liquidity or bridging finance in the form of a loan.
The business customer remains liable for the repayment of the loan including interest. The Government guarantee is in favour of Kiwibank, so if the business customer is unable to pay the loan, Kiwibank will first seek to recover the whole of the outstanding balance from the customer and any property given as security. The Government will cover 80% of the risk and Kiwibank will cover 20% of the risk in the event of any shortfall.
The maximum loan amount is $500,000 for a maximum of three years.
However, each business is different so consider what loan your business will need based on your industry and how long it will take to recover. What liquidity is required in the short and medium term?
You can talk to us about options for your business by completing the Kiwibank Relief and Resilience programme form or applying for the Business Finance Guarantee Scheme loan. This is the most effective way to contact us. Our hardworking team will get back to you as soon as they can. See latest estimated response times.
The Government also has a raft of other initiatives to support the economy and New Zealand businesses, that have been significantly impacted by COVID 19. These include a small business cashflow scheme and a wage subsidy scheme.
See more about the Government support available for businesses on covid19.govt.nz. If you’re not sure what Government assistance you might be entitled to, you can call the free Government helpline 0800 779 997 between 8am - 1am, seven days a week.