Small Business Loan Relief Welcomed

BusinessNZ has welcomed relief options for businesses being made available by banks.

Loan repayment deferrals, temporary interest-only repayments, extensions to the term of loans, loan consolidation, and deferral of mortgage payments are being offered by banks to help businesses ride out the Covid-19 emergency.

BusinessNZ Chief Executive Kirk Hope said the range of relief offered would be a substantial benefit to small businesses.

Mr Hope said all businesses should keep in close communication with their bank, to gain the benefit of relief options and ensure they have the best foundation for post-Covid business.

Further business support is available through BusinessNZ Network advice lines:

EMA (upper North Island): 0800 300 362

Business Central (central region): 0800 800 362

Canterbury Employers Chamber of Commerce (Canterbury & West Coast): 0800 50 50 96

Otago Southland Employers (Otago & Southland): 0508 656 757

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