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Seeking Bold Businesses

Your business could get a share of $5 million in Productivity Grants.

Business lending for changemakers

We are seeking bold businesses ready to invest in smarter ways to get the job done - to build more productive businesses, for a more productive country, so everyone can progress. 

Take out business lending to increase productivity by 30 June, and you could be eligible for your share of $5 million worth of Productivity Grants.

How ASB can help you move your business forward

    Key insights on improving productivity

    Read new research commissioned by ASB that provides a clear pathway to improve business productivity.

    Read research

    Practical tools to make progress now

    Access tools and resources to develop a productivity strategy and assess team capacity to optimise your outputs.

    View tools

    Expert people to support your growth

    Talk to one of our business experts to help build your financial roadmap and further your business.

    Get in touch

Is this right for you?

    Wanting to work smarter, not harder?

     

    To qualify for the ASB Productivity Grant, the lending application needs to indicate how you intend to improve business productivity, for example through technology, automation, new machinery or research and development. Some business activities won’t qualify, such as property investment.

    What is the ASB Productivity Grant?

     

    The ASB Productivity Grant is available to New Zealand businesses who successfully apply for business lending of $25,000 or more with a minimum 3-year loan term. Lending will need to be approved by 30 June 2024. ASB Productivity Grant will be calculated at 1% of new lending amount.

Apply now to move your business forward

Business tools to help you go further

Why does productivity matter?

Find out why New Zealand and its businesses are lagging behind the rest of the world and what activities your business can do to buck the trend.

Learn more

Build a four-step productivity strategy

Learn how to develop an actionable Productivity strategy to ensure every aspect of your business contributes to your overall efficiency.

Learn more

Are you getting the best out of your workforce?

Evaluate how you are using your labour resources and assess the need to upskill to boost productivity. 

Learn more

Frequently Asked Questions

Am I able to apply for a Productivity Grant on more than one ASB loan?

Yes, you can have multiple business term loans but note that the Productivity Grant across all loans is limited to $50,000 per customer.

What is the maximum Productivity Grant I can access?

The maximum Productivity Grant is $50,000 per customer.

Are there any fees that apply?

Yes, standard lending fees apply.

I took out a loan with ASB last month, can I now get this grant?

The Productivity Grant is only available for eligible term loans approved during the promotional period from 26 February 2024 to 30 June 2024.

Are there any business activities that won't qualify for the Productivity Grant?

Productivity Grants are available on term loans for businesses that produce goods and services and are investing in improving their productivity. For example, investments in eligible plant & equipment, research & development, technology, or automation. Activities that are excluded and ineligible are property investment, property development, and those that do not improve the productivity of a business.

How long is this productivity grant available for?

The Productivity Grant is only available for eligible term loans approved during the promotional period from 26 February 2024 to 30 June 2024.

ASB Bank Limited's lending and eligibility criteria, terms and conditions, rates and fees apply. See Business and Rural loan interest rates & fees | ASB.

Only available for business or rural term loans. Only available for new loan amounts over $25,000. The Productivity Grant payment is inclusive of GST (if any). The maximum Productivity Grant payment available is $50,000 per customer. The Productivity Grant payment is conditional on the applicant(s) agreeing that the loan will remain with ASB for at least 3 years from drawdown. If you repay or refinance your loan early, you will be required to repay a portion of the payment as determined by ASB. Offer and fees may change, an early repayment adjustment may apply if you break a fixed rate term. The Productivity Grant is available at ASB’s discretion even where lending and eligibility criteria are met. Offer is subject to change and may be withdrawn at any time.