Saturday, 08 April 2017 09:39

Bank’s assistance package for flood-hit farmers

Written by 

ANZ has announced an assistance package to help the farming community affected by North Island flooding to get their farms and businesses back to full production.

ANZ managing director of commercial and agri Mark Hiddleston says a number of farmers are facing devastating damage from the aftermath of Cyclone Debbie.

“We’re offering targeted assistance to help the farming community recover from the damage caused by flooding. Our package is about helping take financial pressure off farmers and business owners then helping them get their operations back into production.”

The options available for those affected are:

- Suspending loan principal repayments;

- Waiving fees associated with restructuring business loans considered necessary due to impacts of extreme weather;

- Waiving fees for term finance and investments to help get operations back into production;

- Access to term deposits with the usual stand-down period; and

- Providing access to discounted short-term funding to help farmers get through the immediate challenges while also protecting their long-term productivity.

ANZ relationship manager Jason Parkinson who lives in Edgecumbe has seen the damage first hand.

“The first priority for our community was to make sure everyone got out safely,” Parkinson said. “Today we are out with some of our farming customers who are facing some big challenges around getting stock to dry land and milking.”

Hiddleston says farming and business customers impacted by flooding should speak to their Relationship Manager to discuss the impact on their farm or business and discuss their funding requirements.

 

More like this

Forecasts steady as demand holds

Banks are mainly holding firm on their forecasts of $7/kgMS despite last week’s flat Global Dairy Trade result – a small decline of 0.4% in the overall price index.

Limbo causes drop in confidence

An air of uncertainty hangs over the whole agri sector, says the ANZ’s managing director of commercial and agri, Mark Hiddleston.

$7 payout still on the cards

Economists are still sticking to a 2019/20 season forecast of around $7/kgMS despite the 3.8% drop in the Global Dairy Trade overall price index last week.

 
 

» The RNG Weather Report

» Latest Print Issues Online

The Hound

No idea!

This old mutt was flabbergasted at the reaction by some mainstream (lamestream) media to the news that Todd Muller would…

Good point

A mate of the Hound’s, recently back home in Wakefield, Nelson following a month in Christchurch for medical treatment, reckons…

» Connect with Rural News