BNZ Launches First Farm Funding Boost Scheme
Bank of New Zealand (BNZ)will expand its First Farm support with a new funding boost designed to help more farmers and growers take their next step into farm ownership.
Maybe when you’re sitting on a $600 million pile, you can afford to risk upsetting the lending set, but more than a few farmers seem to agree with the sentiment.
In the latest Federated Farmers bank survey they added a new question: ‘Do you think New Zealand banks are presently demonstrating a positive commitment to support farming through difficult periods of high interest rates?’
Feds’ Richard McIntyre says it’s “incredibly disappointing” that only one in five farmers responded with a ‘yes’ to that question.
“At a time when farmers are really struggling, I would have hoped to see our banks stepping up to help, but instead they seem to be tightening the screws.”
