Business Financing Guarantee Scheme
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BUSINESS FINANCING GUARANTEE SCHEME
TSB is a participant in the Business Finance Guarantee Scheme. The Scheme is for New Zealand businesses with a revenue (annual turnover) of up to $200 million which have been financially impacted by COVID-19. The scheme is designed to assist businesses to respond, position for recovery and recover from the impacts of COVID-19.
Excluded loan purposes:
The Business Finance Guarantee Scheme is a Government initiative designed to support the New Zealand economy respond, position for recovery and recover from the COVID-19 pandemic. Under the Scheme, businesses with annual revenue up to $200 million can apply for loans up to $5,000,000 for up to five years, to assist with cashflow and operating expenses. TSB is a participant in the Scheme and can offer qualifying customers these loans.
The Government is guaranteeing 80% of the risk associated with a qualifying loan, while TSB covers the remaining 20%. TSB’s normal lending process is followed and TSB makes the decision to lend.
TSB is committed to supporting our customers through the COVID-19 pandemic. Given the Government is guaranteeing some of the risk associated with qualifying loans, TSB can reduce the cost of lending to qualifying customers.
No, TSB’s normal lending criteria applies, along with some scheme specific criteria. Customers continue to work directly with TSB and no individual details are passed to the Government regarding applications.
The Scheme is open until 31 December 2020.
Eligible businesses can apply once for a loan up to $5,000,000 under the Scheme and are subject to TSB’s credit and lending criteria, terms and conditions and fees.
The maximum loan term is five years.
Complete the online form and one of the team will be back in touch with next steps.
If you'd like to know more about the Business Finance Guarantee Scheme before applying, check out business.govt.nz for more information.
BUSINESS.GOVT.NZ FAQS >
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© TSB BANK LIMITED 2008-2020. Use of this website is subject to our >Website Policy. TSB BANK Limited is in trade for the purposes of the Fair Trading Act 1986.