Thanks ASB

John Key has announced that ASB Bank is providing the following to help Christchurch recover from the earthquake:

• reduced interest loans and six-month repayment holidays to existing home loan customers significantly impacted by the earthquake
• additional cash flow relief through $100 million in loans to existing small and medium business owners impacted by the earthquake
• an additional $100 million in loans to encourage new business in the Christchurch region. These business loans will be interest free for the first 12 months
• $1 million in grants to community groups that have suffered damage or loss

$100 million interest free for a year is a significant dent on the bottom line. It is also essentially a vote of confidence that any new businesses will do well, and their investment will be repaid.