Thanks ASB

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

  • 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.

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