For over 80 years we've been backing hard working Kiwis through thick and thin.
As part of the Business Finance Guarantee Scheme, UDC is able to support businesses who have been affected by COVID-19. So, whether you need help to gear up, get through or shift your business focus, speak to UDC.
What is the Business Finance Guarantee Scheme?
The Business Finance Guarantee Scheme is designed to provide support to New Zealand based businesses which have been affected by COVID-19. Loans can be accessed by small and medium businesses to help them:
- Respond to the impacts of COVID-19;
- Position themselves for recovery from the impacts of COVID-19
- Recover from the impacts of COVID-19
What is available?
- Up to $5 million in lending for eligible businesses
- Loan terms up to 5 years
- Flexible repayment structures to suit your cash flow
- Available to new customers as well as existing customers needing new lending
Is the Business Finance Guarantee Scheme available to your business?
To qualify, your business must:
- Be responding to the impacts of COVID-19
- Be New Zealand based
- Have an annual turnover up to $200 million
- Not be involved in any excluded activity
Loan under the scheme are available until 30 June 2021.
UDC Finance Limited lending criteria, terms, conditions and fees apply to any loan.
To apply:Enquire Online>
Contact the UDC team 0800 500 832 Or get in touch with your UDC Relationship Manager
Excluded industries and activities
Some industries and businesses involved in certain activities are excluded from receiving loans under the Business Finance Guarantee Scheme, these include:
- Local authorities, a council-controlled organisation and a council organisations
- Residential or commercial property developers or investors
- The manufacture of cluster munitions, anti-personnel mines, tobacco, civilian automatic and semi-automatic firearms, magazines or parts
- The manufacture or testing of nuclear explosive devices
- The manufacture or distribution of recreational cannabis
- The processing of whale meat
- Any activity which is illegal in New Zealand.
Loans cannot be used to fund:
- Dividends or on-lending outside your borrower guaranteeing group
- Re-financing or repaying more than 20% of your business’ existing debt
Applying is easy
Just complete the online Enquiry form or call one of our dedicated teamEnquire Online>