COVID-19 business assistance

Information on financial help available to businesses affected by COVID-19.

Resurgence Support Payment (RSP)

Inland Revenue

The Resurgence Support Payment is for viable and ongoing businesses or organisations with reduced revenue due to a COVID alert level increase to level 2 or higher.

About What it's about

This payment has been introduced as part of the government’s COVID-19 support initiatives to help cover business expenses such as wages and fixed costs.

Applications are open for the alert level increase of 23 June 2021. They will remain open for one month after the return to alert level 1. 

Who 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.

Offers What it offers

The maximum size of the payment your business or organisation may be eligible for is dependent on the number of full-time equivalent (FTE) employees and your level of revenue.

The RSP 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 (4x) 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 RSP payment would be limited to $2,000.

Business Finance Guarantee

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. The loan scheme will close on Wednesday 30 June. 

About 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:

  • Banks: ANZ, ASB, BNZ, Heartland Bank, Kiwibank, SBS Bank, TSB, Bank of China and Westpac.
  • Non-banks: Nelson Building Society.

Who 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.

Offers 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.

COVID-19 Small Business Cashflow (loan) Scheme

Inland Revenue

Government loans for small businesses impacted by a loss of revenue due to COVID-19.

About What it's about

A government loan over a term of 5 years for small to medium businesses affected by COVID-19.

Who 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.

Offers 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.

COVID-19 Short-Term Absence Payment

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.

About What it's about

Helping businesses keep paying eligible workers who:

  • cannot work from home, and
  • need to miss work to stay home while waiting for a COVID-19 test (in line with public health guidance).

Who Who it's for

Businesses and self-employed workers. There are also other criteria, which are outlined on the Work and Income website.

Offers What it offers

A one-off payment of $350 for each eligible worker.

COVID-19 Leave Support Scheme

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.

About 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 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.

Offers 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.

General COVID-19 information for businesses

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.

About 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 Who it's for

Businesses that pay an ACC levy.

Offers What it offers

  • Delayed invoicing
  • Payment plans
  • To let us know if you’re no longer in business
  • How ACC levies work with the government wage subsidy

COVID-19 recovery package

Programmes and initiatives that fund job creation as part of the COVID-19 recovery package.

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