Information on financial help available to businesses affected by COVID-19.
New Zealand Trade and Enterprise (NZTE) and Callaghan Innovation
The RBP network can support you in both business recovery and growth. Businesses can access resources and support in areas such as: HR, health and wellbeing, business continuity, cashflow and finance management, strategy and digital capability. As well as support for management training services to build capability.
What it's about
Supporting businesses to recover and grow, with a range of resources such as expert advisory services.
Who it's for
Businesses who are GST registered, have a New Zealand Businesses Number and fewer than 100 full time equivalent employees.
What it offers
A discussion with a RBP Growth Advisor to identify the support needed, connections to providers and if eligible, funding to access expert advisory services.
The Treasury
Business Finance Guarantee loans can be provided as a term loan or revolving credit facility if your business (which can be a company, sole trader, partnership or trust) needs credit for cash flow, capital assets and projects related to the impacts of COVID-19.
What it's about
Business Finance Guarantee loans may be available to help small and medium businesses access credit for cash flow, capital assets and projects related to the impacts of COVID-19.
Loans are provided by banks and non-bank deposit takers. Current providers are:
Who it's for
New Zealand businesses which are generally viable and meet the scheme criteria may be eligible. Your lender will assess if your business is eligible and apply its lending criteria and processes, modified to give effect to the scheme, and look through the economic cycle to take account of the uncertain economic conditions caused by COVID-19. This will include the ability of your business to repay any credit advanced using the Business Finance Guarantee Scheme.
What it offers
The scheme loans are intended to provide for businesses’ current and up-coming operating cash flow needs (including things like rent and staff expenses), and capital assets and projects related to, responding to or recovering from the impacts of COVID-19.
Inland Revenue
Government loans for small businesses impacted by a loss of revenue due to COVID-19.
What it's about
A government loan over a term of 5 years for small to medium businesses affected by COVID-19.
Who it's for
Businesses set up after 1 April 2020. They need to have been in business for at least 6 months before applying, and to meet other eligibility criteria.
What it offers
Businesses will be entitled to a loan of $10,000, plus $1,800 per full-time employee, up to a maximum of $100,000.
Inland Revenue
The Resurgence Support Payment is for viable and ongoing businesses or organisations with reduced revenue due to a COVID-19 alert level increase to level 2 or higher.
What it's about
It has been introduced as part of the government’s COVID-19 support initiatives to help cover business expenses such as wages and fixed costs.
When the government activates the Resurgence Support Payment, applications for the payment will open for eligible businesses and organisations 7 days after the alert level increase.
Who it's for
To be eligible, your business must have experienced at least a 30% drop in revenue (or 30% decline in capital-raising ability) over a 7-day period at the raised alert level when compared with a typical 7-day revenue period in the 6 weeks prior. You must also meet a range of other eligibility criteria.
What it offers
The maximum size of the payment your business or organisation may be eligible for depends on the number of full-time equivalents (FTEs) and your level of revenue.
The Resurgence Support Payment is calculated as $1,500 plus $400 per FTE (up to 50 FTE). The maximum payment is $21,500. Sole traders can receive a payment of up to $1,900.
Businesses with low revenue will have their payment capped at four times the amount their revenue has dropped over the 7-day period. For example, if the business has 3 FTE employees, they would be entitled to $2,700. However, if their revenue drop was $500, the payment would be limited to $2,000.
Ministry of Social Development
The COVID-19 Short-Term Absence Payment supports businesses to help pay workers who cannot work from home while they wait for a COVID-19 test result.
What it's about
Helping businesses keep paying eligible workers who:
Who it's for
Businesses and self-employed workers. There are also other criteria, which are outlined on the Work and Income website.
What it offers
A one-off payment of $350 for each eligible worker.
Ministry of Social Development
Payments from Work and Income to support employers, including self-employed people, to pay wages if their employees can’t work due to COVID-19.
What it's about
Supporting employers whose employees can’t come into work because Ministry of Health guidelines recommend they stay at home, and they can't work from home.
Who it's for
Employers, including self-employed people, whose employees can’t work due to COVID-19. There’s more eligibility criteria on the Work and Income website.
What it offers
Payments of $585.80 for people working 20 hours or more a week, or $350.00 for people working less than 20 hours per week.
Accident Compensation Corporation
We’ve made the decision to delay all ACC invoices by three months to reduce the immediate impact of COVID-19 on businesses.
What it's about
All invoices due to be sent in 2020 had a three-month grace period which resulted in CoverPlus Extra invoices being issued from July 2020 and all other invoices from October 2020.
Who it's for
Businesses that pay an ACC levy.
What it offers
Programmes and initiatives that fund job creation as part of the COVID-19 recovery package.
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