Business Support under Covid-19 pandemic situations

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Under the Covid-19 pandemic situations, Government and other organisations are providing miscellaneous supports to New Zealand businesses. This page provides links to such business support information.

1. Government

1.1 Support for Businesses and Employers: https://covid19.govt.nz/businesses-and-employees/employers/

1.1.1 Business finance guarantee scheme (Government information)

https://www.business.govt.nz/covid-19/business-finance-guarantee-scheme/

This is a business finance guarantee scheme for small and medium-sized businesses (SMEs), to protect jobs and support the economy. The Crown, in partnership with participating approved banks, will support targeted new loans (including increases to existing limits) to eligible businesses, as a response to difficulties caused by COVID-19. This is $6.25 billion in loans to New Zealand businesses in total. A normal lending process will be followed by the banks, which will make the lending decisions. Further details can be found on the banks' websites.

Businesses with annual revenue: $250,000 - $80 million per year

Loan amount: up to $500,000

Duration: up to three (3) years

Government guarantee: 80% of the risk

Banks' cover: 20%

Under Level 4 conditions, many bank branches are closed, and information related to Business finance guarantee scheme can be found at the Banks' websites,

1.1.2 ANZ: Supporting our business customers: Banking is an essential service and ANZ will continue to be here to help you through these challenging times.

https://www.anz.co.nz/here-to-help/business/

1.1.3 ASB: COVID-19 support. We're here to help you get through. The following information is current as at 15 April 2020, keep coming back here for the latest information. ASB has looked after our customers in the face of many challenges over the years. We'll continue to do the right thing for you, our people and our communities during the COVID-19 crisis. Right now, taking care of your financial wellbeing is more important than ever. We want to help, so you can concentrate on looking after yourself and your loved ones. 

https://www.asb.co.nz/page/covid-19.html

1.1.4 BNZ: Business Finance Scheme: We're working with the Government to support businesses affected by COVID-19 (coronavirus). Together, we've set up the Business Finance Scheme (BFS), making more than NZ$1 billion available to our business customers.

https://www.bnz.co.nz/contact/covid-19-update/business-finance-scheme

1.1.5 KiwiBank: COVID-19 updates: 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.

https://www.kiwibank.co.nz/contact-us/support-hub/coronavirus-updates/updates-business-products-and-services/

1.1.6 Westpac: COVID-19. We understand that as business owners you have a lot on your mind right now, so we wanted to let you know that we'll do our best to take care of your banking. Help for business customers: We're here to help our business customers financially affected by the COVID-19 pandemic. On this page you'll find a range of assistance options that could benefit your business.

https://www.westpac.co.nz/who-we-are/covid-19/help-for-businesses/

1.2 Support for Sole-Traders: https://covid19.govt.nz/businesses-and-employees/sole-traders/

1.3 Wage Subsidy Information: https://www.workandincome.govt.nz/products/a-z-benefits/covid-19-support.html#null

1.3.1 Q&A about Wage Subsidy: https://www.workandincome.govt.nz/products/a-z-benefits/employer-questions-and-answers.html#null

Wage Subsidy - The business you work for should make one application for all of its employees and shareholders who work for the business and are paid a wage, salary or draw an income for that work they do. (from Q&A page)

1.3.2 Application pages

1.3.2.1 Employer: https://services.workandincome.govt.nz/ess/employer_applications/new

1.3.2.2 Self-employed (no employees): https://services.workandincome.govt.nz/ess/trader_applications/new

You need IRD number, bank account, and the information of your contact and all the employers and shareholders (DOB, IRD number) for the application. MSD can access your income information and will contact you if they need more information.

1.3.3 Wage Subsidy Extension

Businesses still in difficult financial conditions under Level 2 and Level 1 conditions can receive Wage Subsidy Extension for 8 weeks. Please check your business bank account for 30 days, from 10/May to 09/Jun, and compare with the sales amount of the same days in 2019. If sales are still less than 40% of the last year or smaller than that, the business can apply for Wage Subsidy Extension of eight (8) weeks.

https://www.workandincome.govt.nz/covid-19/wage-subsidy-extension/who-can-get-it.html#null

1.4 Auckland Council's COVID-19 response

https://ourauckland.aucklandcouncil.govt.nz/?&

1.4.1 Auckland Council's Services under Covid-19 pandemic situations

https://www.aucklandcouncil.govt.nz/Pages/covid-19.aspx

Please check you local council information for the relevant regional information.