Briefs: Lumi offers SME ‘kickstarter’, solid Home Guarantee numbers, RBNZ promotion

SME lender Lumi has launched a “kickstarter” loan for businesses coming out of lockdown, offering to assess them on their pre-lockdown revenue for new term loan applications. Business owners who have qualified for a Lumi loan pre-lockdown and can demonstrate that their revenue has been affected by the recent lockdowns will be able to access a kickstarter loan. The loan includes a repayment holiday that can be taken at the start.

More than 50,000 people have used the Home Guarantee Scheme to buy a home or reserve a place since January 2020, according to a government update. The scheme includes the First Home Loan Deposit Scheme, the New Home Guarantee and the Family Home Guarantee, a program for single parents that was established in July. In its first three months, 1236 places were taken up.

Christian Hawkesby, the RBNZ’s assistant governor / general manager of economics, financial markets and banking will take on the role of deputy governor of the Reserve Bank in January 2022. He will replace Geoff Bascand, who is leaving the Bank in January after eight years. Hawkesby will also take over leadership of the Financial Stability functions from early 2022. He will remain as a member of the Monetary Policy Committee. The RBNZ said, given Bascand’s departure, a replacement MPC member would be appointed “in due course”.