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Reply To: We are a transport company, contracting to Fulton Hogan Ltd.  The BNZ gave us a temporary overdraft, which runs out today, due to the last lockdown our revenue was cut and now we are short of capital to cover our expenses for the month. The BNZ will not extend our overdraft, even though we are working more hours.  We need help to cover our expenses, as well as look at taking on a driver to increase our monthly income.  Can you please advise where we can go for this?Thanks.

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Morena Susan. Tough place right. The BNZ is likely saying no, because of a number of factors, including that they are concerned about recoverability of their funding as a result of lower revenue for the business. So your choices are (1) lower your costs (2) earn more revenue – – to drive confidence and results where the Bank or other funders would be more open to backing you.

Right now, they are not going to fund you unless something changes right – so the focus should be on what you can change yourselves – either getting more or more certain revenue from your customer or finding new sources of customer income.

Have you talked to your customer about the situation – do you think you have the relationship to be able to do that?

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