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

Best placed to help in a crisis

OPINION: Two years on from Cyclone Gabrielle, I've learned that while the power of Mother Nature is formidable, it is more than matched by the extraordinary capacity of locals to recover and rebuild.

Featured

Elite sheep dogs to go head-to-head at Ashburton A&P Show

A major feature of the Ashburton A&P Show, to be held on October 31 and November 1, will be the annual trans-Tasman Sheep Dog Trial test match, with the best heading dogs from both sides of the Tasman going head-to-head in two teams of four.

Safer Rides initiative boosts farm quad bike safety

According to a new report, the Safer Rides initiative, which offered farmers heavily discounted crush protection devices (CPDs) for quad bikes, has made a significant impact in raising awareness and action around farm vehicle safety.

Editorial: Farewell Jim

OPINION: In the past weeks, much has been said and written about one of New Zealand's greatest prime ministers, James Brendan Bolger, who died just a few months after his 90th birthday.

National

Tributes paid to Jim Bolger

Dignitaries from  all walks of life – the governor general,  politicians past and present, Maoridom- including the Maori Queen, church…

Machinery & Products

» Latest Print Issues Online

The Hound

Red faced

OPINION: The Greens have taken the high moral ground on the Palestine issue and been leading political agitators in related…

Cold comfort

One of the most galling aspects of the tariffs whacked on our farm exports to the US is the fact…

» Connect with Rural News

» eNewsletter

Subscribe to our weekly newsletter