last updated 16/02/2023
Westpac’s Flood Relief Fund for small business customers
last updated 16/02/2023
7 February 2023 – Westpac has established a $1million flood relief fund to support its small business customers who have been affected by the recent floods in the upper North Island
Westpac says, ‘The Finance Minister said yesterday the insurance industry has told him these floods will be New Zealand's biggest insurance event not related to earthquakes. This, combined with the heightened financial pressures we know many of our customers are experiencing, means that in addition to our standard adverse event support, we're pleased to be establishing this fund.’
Customers who meet the small business grant eligibility criteria can apply for a $2,500 cash grant to help with urgent expenses or repairs.
‘Stepping up for our customers in times of need is what we do at Westpac, and we hope this fund will help to alleviate some of the stress many small business customers will be experiencing.’
Customers can apply for a cash grant (on-line) at Westpac Small Business Flood Relief Grant - Westpac NZ up until the $1million fund is fully allocated or until 5pm on Friday 24 February 2023 (whichever is earlier).
In order to be eligible to apply, a customer must be a small trading business and:
- Be in a region that has declared a state of emergency since Friday 27 January. So far this includes Auckland, Northland and Waitomo.
- Have their main business account with Westpac NZ.
- Have less than $2 million NZD turnover per year from their combined businesses.
- Provide evidence of damage or business interruption resulting in a loss exceeding $2,500.
- Rely on the business as a main source of income.
Approval of applications is at Westpac NZ's discretion. Additional terms and conditions apply. A dedicated support team has been established to assess applications and respond to customers directly.
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