Sustainable Farm Loan
A financial incentive on farm term lending for agribusiness customers who commit to whole-farm sustainability, including emissions reduction and climate resilience.
Westpac New Zealand offers a financial incentive from day one on term lending for your farm. You have 24 months from the loan date to meet the Westpac Sustainable Farm Standard across the whole farm.
This is borrowed money that you must repay under your loan agreement. Business-borrowing establishment fees are up to 1% of the facility limit or loan amount, with a minimum charge from NZ$400. If you repay fixed-rate borrowing early, processing that repayment has no administration fee, but a separate prepayment cost may apply under your agreement.
Eligibility
- You must be an agribusiness customer with at least NZ$1 million in total business lending with Westpac New Zealand. This is your total business lending, rather than a minimum size for this particular loan. Westpac applies its eligibility and lending criteria.
- The loan must be for business or investment purposes. Personal, domestic and household purposes are excluded.
- Within 24 months from the loan date, your whole farm must meet the Westpac Sustainable Farm Standard. Develop and implement a comprehensive Farm Environmental Plan; actively manage waterways and water efficiency; follow best practice for fertiliser and chemical use; reduce and dispose of farm waste responsibly; and manage land for biodiversity and soil health, taking account of high-value biodiversity areas and conservation objectives.
- Understand your farm’s greenhouse gas emissions and act on reduction opportunities. Prioritise minimal tillage, soil cover and protection of land with high carbon stocks. Understand climate risks, especially extreme weather, and work towards keeping livestock and farm assets safe.
- Maintain animal welfare through appropriate management and staff training, and identify and control farm hazards to protect family and staff. These requirements form part of the same whole-farm standard.
- A fee applies for independent verification by AsureQuality.
How to apply
- Status
- Open continuously
- Round restrictions
- Westpac eligibility and lending criteria apply; at least NZ$1 million total Westpac New Zealand business lending is required.
Call Westpac’s agribusiness team on 0800 500 655, contact a local agribusiness manager, or use the callback form to discuss your needs and apply. The form includes an option for people who are not yet Westpac customers; the lending threshold and eligibility assessment still apply.