ANZ Bank New Zealand (ANZ NZ) today announced an assistance package for businesses affected by the extreme weather events in Tairāwhiti (Gisborne) and the Coromandel Peninsula.
Lorraine Mapu, ANZ Managing Director of Business, said heavy rain and flooding was causing serious damage.
“Our thoughts are with those dealing with damage and destruction to the community and their businesses.
“Farmers and business owners will be focussed on protecting their livelihood, repairing damage and making sure livestock are safe.
“We’re offering targeted assistance for business customers, like temporary overdraft facilities and the ability to defer loan repayments, to take some of the financial pressure off so people can focus on the bigger issues they are dealing with right now.
“We can also explore a range of other options for customers under financial pressure, and we’d encourage people to get in touch early so we can see how we can help.”
The options available for those affected, subject to approval, are:
- Applying for short-term funding to assist them to cope financially with unexpected costs arising from extreme weather;
- Suspending or reducing loan principal repayments;
- Where the customer meets hardship circumstances, waiving notice period requirements and removal of any interest rate recovery costs associated with early access of Term Deposit funds.
- Waiving fees associated with restructuring business loans considered necessary due to impacts of extreme weather;
- Waiving fees for term finance and investments which have the potential to improve performance and the ability to respond to climatic variation in future years.
- Business customers impacted by flooding should speak to their Relationship Manager to discuss the impact on their business and their funding requirements.
All other customers should contact us on 0800 269296.
The assistance package takes effect from 11 January 2023.
For media enquiries contact Briar McCormack on 021 2801173.