Loans with below-market interest rates are being made available to boost the growth of South Waikato businesses.
The five-year discounted loans are being offered by the South Waikato Investment Fund Trust (SWIFT).
Speaking to Stuff, Chief Executive of SWIFT Amanda Hema said that the loans can be “transformational” for businesses.
“Our interest rates are usually less than market rates and we are very community focused.
“Businesses must be located, or in the process of relocating or expanding in South Waikato, to receive a loan,” she said.
Putāruru-based steel frame manufacturer Green Frame has benefited from the loan. Director Sam Wulff (pictured) said that the loan allowed the company to purchase three new steel roll forming machines worth several hundred thousand dollars.
Putāruru-based plumbing business Van Dam Plumbing has also made use of the loan by purchasing a new digger and a new van, and taking on five new staff.
“Large scale impact is the focus,” Hema said.
“This is all about incentivising growth.”
Information on loan criteria can be found online at www.swift.org.nz.
Image Credit: Stuff.co.nz
