Small and medium-sized (SMEs) businesses have an early Christmas present.ANZ New Zealand is splashing out $3 billion in new lending to support SMEs in 2011.It is in addition to the $3.5 billion the bank already expects to lend in 2011 to re-finance existi
Small and medium-sized (SMEs) businesses have an early Christmas present.
ANZ New Zealand is splashing out $3 billion in new lending to support SMEs in 2011.
It is in addition to the $3.5 billion the bank already expects to lend in 2011 to re-finance existing customer facilities.
The funds will be available using standard lending criteria and will help provide New Zealand companies with support for new investment, with working capital and with trade finance.
ANZ New Zealand chief executive David Hisco said the bank remained strong through the financial crisis by maintaining “sound” lending criteria.
“The $3 billion pledge that we’re making highlights the commitment we have to helping develop a strong small and medium-sized business sector and to supporting economic growth in New Zealand,” Mr Hisco said.
