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Business Finance Guarantee Scheme

He waka eke noa – we’re all in this together. Heartland is working to help Kiwi businesses respond to COVID-19 through the Business Finance Guarantee Scheme.

We’ve joined forces with the Government to offer financial assistance not only to our existing customers, but to any business that qualifies.

What is the Business Finance Guarantee Scheme?

The Business Finance Guarantee Scheme is a collaboration designed to provide loans to businesses which have been affected by COVID-19. Here are some of the features:

  • Calendar Up to 5-year terms with flexible payment options
  • Money Borrow from $5k to $5 million
  • Percentage Low interest rates, no fees
  • People New customers welcome
  • Money Potection Respond to COVID-19

Are you eligible?

To qualify for the Business Finance Guarantee Scheme, your business must:

  • be New Zealand based
  • have an annual turnover of up to $200 million
  • not be involved in an ‘Excluded Activity’ (see the list of ‘Excluded Activities’ in the FAQ section)
  • not be party to a loan with another bank or non-bank deposit taker made under the Business Finance Guarantee Scheme
  • not be classified by us in the following categories: residential property investor or developer, or commercial property investor or developer
  • not be a local authority, council-controlled organisation or a council organisation

Loans under this Scheme are available until 30 June 2021.

How do I apply?

  1. Phone 1. Complete the easy online application. Lets talk business
  2. Documents 2. Provide your business financial and supporting information. Lets talk business
  3. Document checklist 3. We’ll verify the information you’ve given us and conduct any further checks required. Lets talk business
  4. Write note 4. If approved, we’ll send you your loan documents to sign electronically. Lets talk business
  5. Face 5. We’ll verify your identity with our facial recognition technology. Lets talk business
  6. Money 6. You’ll get the funds deposited into your nominated account! Lets talk business
Lending criteria, terms and conditions apply.

Got more questions?

Most business sectors are eligible under the scheme, but certain sectors are excluded. These include property development, property investment, the manufacture of tobacco, the processing of whale meat, recreational cannabis, the manufacture of firearms, and any activity illegal in New Zealand. See the full list of excluded activities below
Loans cannot be used for:
  • Distributing on-lending or dividends outside of your guaranteeing group
  • Repaying or refinancing more than 20% of your existing debt
  • Residential or commercial property development or investment
  • Any of the ‘Excluded Activities' listed in the section below
  • Manufacture of cluster munitions, anti-personnel mines or civilian firearms, magazines or parts
  • Manufacture or testing of nuclear explosive devices
  • Manufacture of tobacco
  • The processing of whale meat
  • Manufacture or distribution of recreational cannabis
  • Any other illegal activity
To apply for a loan under the Business Finance Guarantee Scheme, you'll need to provide us with information about:
  • The bills you need to pay, including the amounts per month
  • How much funding your business needs
  • Whether you have applied for or have received the Government wage subsidy package
  • Any arrangements you've made with other creditors (including your business premises landlord)
  • Your business' tax status.
Yes, we will discuss this with you at the time of your application.

Normally for loans over $100,000, we will request a general security agreement (GSA) over your business.
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