ASB welcomes changes to Business Finance Guarantee Scheme

ASB supports the Government's decision to extend the Business Finance Guarantee Scheme to a broader group of customers.

ASB is continuing to provide significant and unprecedented support to our customers and we are seeing increasing numbers of business owners requesting assistance. The simplification of the scheme rules will help us to help businesses keep moving forward with their efforts to restart the economy.

"We're pleased that access to the scheme has been simplified to allow increased participation of Kiwi business customers impacted by the economic effects of Coronavirus (COVID-19). This complements our existing ASB customer support packages that have already been widely accessed by many,” says ASB executive general manager Business Banking Tim Deane.

Mr Deane says the move to level 3 has brought a greater sense of reality to many business owners as they work through the real impacts on their business following the lockdown period.

"ASB is here to help our customers get through and to be part of re-opening New Zealand's economy. We've been impressed by how many of our customers have rapidly changed how they operate their businesses. This has involved some tough decisions for many and has highlighted how well Kiwi businesses respond to new challenges.”

ASB has a three-month check in with customers so the bank can discuss what options may best suit as businesses move through the different stages and is encouraging any customers to get in touch to discuss the changes to the Business Finance Guarantee Scheme and what options are available to them.

"This is about doing right by our customers. We'll be active in helping them with their financial position and tailoring what options they have, for now and the future,” says Mr Deane. More information can be found at asb.co.nz/covid-19