Good Ol' Days
OPINION: NZ First knows its market and feeds it a constant diet of how ‘good’ the good old days were, promising to resurrect policies and icons of a bygone era.
The BNZ First Farm Funding Boost provides up to a 1% interest rate discount on the first $2 million of borrowing for the first two years, alongside up to $250,000 in working capital at 2.99% for six months to help manage early cashflow needs.
For example, an eligible first farm buyer borrowing more than $2 million could reduce borrowing costs by more than $40,000 over the first two seasons.
It will be available to eligible farmers and growers purchasing their first farm, as well as first-time 50/50 sharemilkers and first-time farm owners entering via eligible equity partnerships.
It builds on BNZ’s First Farm initiative, launched last year in dairy to support aspiring farmers into first herd or first farm ownership.
Designed to Reduce Early Financial Pressure
BNZ General Manager Agribusiness and Corporate Banking, Dave Handley, says the Funding Boost is about helping capable farmers and growers manage the financial pressure that can come with buying their first farm.
“Buying a first farm is a major milestone. It takes capability, commitment and careful planning, and the early years can put real pressure on cashflow,” says Handley.
“The new Funding Boost is designed to help reduce some of that pressure, giving eligible first farm buyers more breathing room as they establish themselves.”
“It’s about backing the next generation of farmers and growers with practical financial support when it can make a meaningful difference,” Handley says.
Supporting More Pathways Into Ownership
Handley says First Farm was initially focused on dairy, where buying a first herd or moving into 50/50 sharemilking are established steps toward farm ownership.
The new Funding Boost extends financial support to eligible first farm buyers across the wider agri sector.
“Farming and growing are central to New Zealand’s economy and rural communities, but the path into ownership is changing. We want to support people with the ambition and ability to take that step, whether that’s into their first farm, first herd, or an eligible equity partnership,” says Handley.
“That means practical support, help with early cashflow, and access to BNZ agri specialists who understand the realities of farming and growing.”
