Business Finance Scheme
Together with the Government, we’ve set up the Business Finance Scheme (BFS), making more than NZ$1 billion available to our business customers affected by COVID-19.
Remote access to banking
Now's a good time to check that you’re set up to do your banking remotely.
Make sure that everyone who needs access is set up to use Business Banking, so they can work remotely if needed.
Re-visit your limits and check they’re sufficient, so you don’t need to make changes if someone's away.
You can also set up future dated payments and authorise important payments in advance.
If you haven’t already, download the BNZ Business app. You can use it to do your banking on the go, or authenticate your desktop log in if you don't have access to your NetGuard token.
Turn on mobile push notifications. You can get notified for things such as money coming in, when payments fail or need to be authorised, and when suspicious-looking payees are added.
Our MyBusiness Live platform can help you connect all your business apps like BNZ, Xero, MYOB, and Facebook, so you can see how your business is tracking. Sign up for free access.
Ways we can support you
We’re already speaking to many of our business customers who are feeling the economic impacts of COVID-19. Our best advice for customers in this position is to talk to us as soon as you can. If you’re a SME customer, call 0800 269 763. If you’re a business customer, contact your banker directly.
These are some of the ways we can offer support:
Cashflow
Our bankers have the ability to provide immediate access to funds, where required, to help customers with short-term cashflow requirements as a result of COVID-19.
There are a variety of ways we may be able to help, so call us to discuss which of the following could be suitable for your situation.
Ability to review and extend trade credit
Reduction in overdraft rates
Free up cash flow by refinancing your assets
Apply online for up to $100,000 of lending
Principal repayment holidays
Extension of term lending periods
Short term loans
Hardship loans
Business credit card options
Moving to ‘Interest Only’, on a case by case basis
Lending criteria, terms and conditions and fees apply.
We also have tools and calculators available to help you with things like cash flow forecasting and calculating loan repayments, or staff costs.
Reduction in business overdraft base rates
Effective from 17 March 2020, we've announced support for our SME customers with a 1% cut in the base rates of our business overdrafts (Business First, Business Advantage, and MyMoney for Business overdrafts).*
Waiving all contactless debit transaction fees for SMEs
Effective 20 March 2020, we've waived contactless debit transaction fees for the next three months to provide additional help and support for our SME customers.
Waiving all BNZ PayClip device fees
For the month of April, BNZ PayClip device fees will automatically be waived to support our SME customers.
Asset finance
Our asset finance package can provide access to funding to further support your business. You may be eligible to free up cash flow by refinancing your assets with a current variable rate of 6.95% p.a. with flexible terms.
Lending criteria, terms and conditions and fees apply.
Find out more about asset finance
Online loans and overdrafts
You might be eligible for up to $100,000 of lending through QuickBiz, which is a way to apply for a business loan or overdraft online, without needing to provide additional security.
Lending criteria, terms and conditions and fees apply.
Partners Centres
All Partners Centres are temporarily closed, but we’re always here to help over the phone. Please call your banker, or if you’re a SME business customer, call us on 0800 269 763.
Small business insurance
For queries about BusinessFirst insurance, please email bnzbusiness@iag.co.nz or call 0800 007 751.
Ongoing work with the Government, NZTE and other key partners
We’re working closely with key New Zealand government entities to understand the evolving impacts, so we can support your business appropriately and provide you with relevant support and information.
* You will pay interest at the business overdraft base rate plus a margin, calculated daily on the amount outstanding up to your arranged overdraft limit, as set out in your overdraft facility agreement. If you exceed the limit, we will charge you interest on any amount that exceeds the limit at our excess rate. Our excess rate is our business overdraft base rate plus 10%, unless we advise you otherwise. Arranged and unarranged overdraft fees also apply.