Monday, April 22, 2024

Low-interest loans for disaster recovery

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ANZ has allocated an initial fund of $250 million for the low-interest lending.
While announcing a new loan option ANZ chief executive Antonia Watson visited Kelston Orchards, Hastings and met owner Tony Harington.
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ANZ has publicised a low-interest business recovery loan after adverse weather events in the North Island.

The rate is 3.49% for up to three years and a $300,000 maximum for existing ANZ customers.

In Hawke’s Bay recently to visit farmers and food producers. ANZ chief executive Antonia Watson said the extreme weather events had hugely impacted customers and regional economies.

“The primary sector wide impact has deeply hurt our food production system.

“We know cost is one of the factors delaying investment and by removing some of that cost barrier we hope to give businesses confidence to rebuild.”

ANZ has allocated an initial fund of $250 million for the low-interest lending and the regions covered are Northland, Auckland, Waikato, Bay of Plenty, Tairāwhiti, Hawke’s Bay, Tararua, and Wairarapa.

The ANZ Business Regrowth Loan is to be a model for business and agri recovery help after future extreme weather events, Watson said.

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