ASB Backs Sustainable Business with Discounted Loans
ASB has introduced its innovative Business Sustainability Loan, aimed at assisting businesses in their pursuit of social and environmental progress.
By offering a discounted variable rate, ASB seeks to support initiatives that generate favourable outcomes for society and the planet, with lending amounts ranging from $25,000 to $2 million.
Ben Speedy, Acting Executive General Manager of Business Banking at ASB, expressed enthusiasm about the loan, stating, "We view this new offering as a catalyst for accelerating change that will benefit both our communities and the environment."
The loan is designed to benefit projects addressing pressing social challenges such as affordable and social housing, job creation for marginalised communities, the revival of Te Reo Māori (Māori language), Tikanga, and Te Ao Māori (Māori customs and culture), as well as community upliftment initiatives ensuring access to vital services like education, healthcare, financial services, and sustainable food systems for disadvantaged groups.
"We hope that this product represents a significant stride in the right direction, encouraging businesses to think creatively and engage meaningfully with their communities. The objective of this funding is to enable businesses to make a positive impact on society," Speedy said.
Moreover, the Business Sustainability Loan aligns with the environmental objectives of business customers aiming to contribute to New Zealand's transition to a Net-Zero economy by 2050. This can encompass endeavours related to conservation, biodiversity restoration, adoption of renewable energy, pollution prevention, and emissions reduction.
"We are dedicated to forging a sustainable future for all New Zealanders and assisting businesses in their journey toward achieving remarkable social and environmental outcomes," Speedy affirmed.
Applications for the ASB Business Sustainability Loan are now open. To learn more or apply, please visit https://www.asb.co.nz/banking-with-asb/business-sustainability-loan.html.
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