Govt financial support links and forms

Wage subsidy & Business Finance Scheme

Who can apply for the wage subsidy?

The wage subsidy is available to all businesses adversely affected by COVID-19 including:

  • self-employed
  • contractors
  • sole traders
  • registered charities
  • incorporated societies
  • post-settlement governance entities.

The subsidy is not available to state sector organisations.


Businesses will be eligible for the subsidy where they have experienced a 30% decline in actual or predicted revenue related to COVID-19.

Before receiving a subsidy, you must take active steps to manage the implications of COVID-19 on your business. This might include talking with your bank, making an insurance claim, or activating your business continuity plan.

Business continuity planning

To see if you are eligible for the subsidy, follow these steps.

  1. Use the Wage subsidy eligibility tool to assess your eligibility
  2. Apply for the Wage subsidy scheme on the Work and Income website (external link). They will verify the information you provide in your application with Inland Revenue.

Tip: We recommend that you ensure your IR details are up to date before applying for the subsidy – you can check online at the Inland Revenue website (external link).

Business finance guarantee scheme

The Government, retail banks and the Reserve Bank announced a major financial support package for businesses and home owners affected by the economic impacts of COVID-19.

Business finance guarantee – applications open (external link) —

Government has launched a business finance guarantee scheme for small and medium-sized businesses, to protect jobs and support the economy. The Crown, in partnership with participating approved banks, will support targeted new loans (including increases to existing limits) to eligible businesses, as a response to difficulties caused by COVID-19.

Under the scheme, businesses with annual revenue between $250,000 and $80 million can apply to their banks for loans up to $500,000, for up to three years. The scheme will offer a total of $6.25 billion in loans to New Zealand businesses.

Government is guaranteeing 80% of the risk, while the banks are covering the remaining 20%. A normal lending process will be followed by the banks, which will make the lending decisions. Further details can be found on the banks’ websites.

More information on the announcement can be found at

Business finance guarantee – applications open (external link) —

CLICK HERE for all the answers to questions