Development West Coast (DWC) has created a Glacier Country Business Support Fund (GCBSF) in response the COVID-19 pandemic which is having an unprecedented impact on local, national and international economies, and in particular businesses in the tourism sector as a result of the closure of New Zealand’s borders.

The GCBSF is a fund of $5m, the bulk of which will be made available to Glacier Country businesses subject to specific eligibility and criteria set out below.  It is a one-off allocation of funds, and access to this funding is only available through application between the period 1 April and 12 April 2021.

 


Application Process


1. Applications must be made on this GCBSF application form, accompanied by the following supporting information and signed documentation:

  • Financial Information for the 2019, 2020 and 2021 financial years. Noting the end of financial year, we acknowledge that businesses may only have management accounts for part of the year available for 2021.

  • Evidence full-time and part-time employees currently employed (refer below).

2. Applications can be made between 1 April and 10am Monday 12 April 2021.  No applications will be accepted after that time.  Applicants can only make one loan application and no amendments can be made after the application has been submitted.

3. All applications will be assessed against the eligibility requirements, and DWC reserves the right to decline any application that is deemed not to be in the spirit of the GCBSF.

4. Applicants have the option to accept the full loan amount of up to offered of up to $50,000 or a smaller loan amount.

5. Only applications that meet all eligibility criteria will be considered.  Please refer to the Eligibility Self Check in the Application Form.

6. Applications must be submitted via email to: This email address is being protected from spambots. You need JavaScript enabled to view it..

 

The application form gathers information about your business, along with accompanying information to support your application.  It contains authorities to carry out various credit and identification checks required to be undertaken on applicants.  Each section of the application form provides guidance on the information being sought.

This application form contains a number of discretionary assessments including, without limitation, what is a substantial level of ownership, whether a business meets certain criteria, whether a business has demonstrated business viability, what is in the spirit of the GCBSF and whether a business or person is located inside or outside the GCBSF area. The intention of the management of GCBSF is that all such assessments, views and decisions will be made or decided by DWC in its sole and absolute discretion using any such criteria as it decides is appropriate in the circumstances.

If you have any queries, we encourage you to email your query to  This email address is being protected from spambots. You need JavaScript enabled to view it. in the first instance, or phone our Business Support Officer, Amanda Hopkins, on 03 769 7014 or free phone 0800 768 0140.  All enquiries and applications are treated in the strictest confidence.

 


Eligibility Self-Check


Eligible Business

  • Funding must be utilised for purposes which comply with the Objects of DWC’s Deed of Trust (“the Deed”).

  • Be a “West Coast enterprise” as defined in the Deed, and in particular be located within the geographic area of “Glacier Country” between Whataroa and Lake Moeraki.

  • Be GST registered.

  • Have been in operation for at least twelve months’ prior to making the application.

  • Minimum of 3 FTE’s prior to COVID-19 pandemic (please refer to the FTE Calculation note included).

  • Provide evidence of at least a 50 percent decline in revenue, excluding Kaimahi for Nature funding, due to COVID-19, over any six-month period in the previous year, compared with the same six-month period in the prior year. i.e. summer to summer seasonal period.

  • Only employ individuals able to legally work in New Zealand.

  • Minimum $100,000 turnover (gross revenue) prior to COVID-19/FY March 2020.

  • Have a substantial level of New Zealand ownership and governance.

  • Be able to demonstrate that the business is viable and have a plan to ensure ongoing viability (please refer to the Business Viability note included).

  • Have employment opportunities, including retention of existing employees, as a direct effect of DWC’s finance.

  • Demonstrate how DWC funding will be utilised.

  • Demonstrate how the project will promote and/or retain employment, including quantum of FTEs.

  • Only one application has been submitted where there are a group of commonly owned businesses.

     

Ineligible Business: The following businesses or organisations are not eligible for GCBS Funding. 

  • Recipients of the 2020 Strategic Tourism Asset Protection Programme (STAPP) funding.

  • Not For profit Organisations.

  • Local or Central Government organisations.

  • Businesses outside the geographical area of the GCBSF.

     

Eligibility Notes


FTE Calculation

An employee working 25 hours or more per week is considered full-time.
An employee working up to 25 hours per week is considered part-time.

To work out the number of full-time-equivalent employees (FTEs):

  • Full-time employees count as 1 FTE.

  • Part-time employees count as 0.6 FTE.

  • The sum of your FTEs is rounded to a whole number (that is, all employees are cumulative, eg 4 x 0.6FTE’s is calculated as 2.4 FTE’s)

     

Business Viability

This generally means the directors or owners have good reason to believe it is more likely than not the business or organisation will be able to pay its debts as they fall due within the next 18 months. Your accountant may be able to provide this advice.

You must keep any evidence of the business or organisation’s ongoing viability at the time of requesting the loan, as we may audit your application.

Evidence might include, for example:

  • a cash-flow forecast for the business or organisation for the short term.

  • a plan for where revenue will come from in future market conditions, and a forecast of those revenues.

  • financial statements showing the business or organisation has enough resources to sustain itself when including the loan.

  • your accountant’s assessment that the business or organisation is viable and ongoing.

We ask loan applicants to evaluate this requirement honestly and in good faith, on the basis that the loan scheme has been designed to assist small to medium sized businesses and is not intended to benefit large businesses or organisations, which control multiple small to medium sized businesses or organisations.

 

Commonly owned groups of businesses and organisations

A commonly owned group of businesses is (generally) considered to be one where each business has the same combination of owners. It does not matter whether those owners have the same proportion of ownership in each business.

In addition, a business may also be treated as being in a commonly owned group if it is in substance part of a larger group of businesses. For example, this may occur where:

  • The group has a dominating shareholder or group of shareholders and the businesses operate together as if they were one.

  • The group of businesses involves a complex ownership structure where the overall control is centralised, and the businesses are in substance one enterprise.

We ask loan applicants to evaluate this requirement honestly and in good faith, on the basis that the loan scheme has been designed to assist small to medium sized businesses and is not intended to benefit large businesses or organisations, which control multiple small to medium sized businesses or organisations.

Request an application form now: This email address is being protected from spambots. You need JavaScript enabled to view it. 

Contact DWC to discuss your application – phone 0800 768 0140 

 


Lake Matheson


 

Whatever stage your business is at, whether it is a start-up or a well-established firm wanting to extend its export capability, DWC's capability and growth advisors are your first port of call.

Highly knowledgeable with extensive networks throughout the region, they can provide you with advice and point you in the right direction. They will know where to find expertise and support and where to locate technical or commercial personnel who can help you with your business and assist your company to grow.

Fiona Hill

Capability and Growth Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.
0800 768 0140


Award-winning butchery expands


Thomson Butchery was established 16 years ago by Neville and Lynley Thomson following the cessation of native forestry logging in New Zealand.

“When looking for employment in and around Hari Hari – there was nothing available,” Neville says.

Now Neville and Lynley are creating employment themselves with their award-winning butchery.

Initially starting as a small home-kill service, Thomson Butchery quickly grew into a significant business. Following requests to supply Fresh Choice, SuperValue and New World supermarkets across the South Island, Thomson’s contacted DWC to assist with finance to extend the existing building and employ additional staff to meet the increase in production.

“Having support from DWC has allowed us to grow our business and create new jobs in the area,” Neville says.

Being a fourth-generation butcher, Neville takes pride in the traditional methods of processing that have been passed down through the generations.

Neville and Lynley’s hard work and passion were evident when Thomson Butchery took part in the 2018 New Zealand Pork, Bacon and Ham Awards in Auckland. They were the proud recipients of gold awards for both their manuka smoked honey dew collar bacon and middle bacon.

This adds to their growing trophy cabinet. In 2017 they took home gold for their collar bacon and in 2016 they received silver for their streaky bacon and bronze for their dry cured bacon with cloves.

Despite the growing accolades and ever-increasing customers across New Zealand, Neville and Lynley choose to keep their business on the West Coast.

“Why live anywhere else? We have a million-dollar lifestyle here in Hari Hari and can still do business with the rest of the country. We have freight companies coming to our door, and courier companies who can send anywhere in New Zealand in 24 hours,” Neville says.

Try some of Thomson Butchery’s award-winning bacon from a local supermarket or order online at www.thomsonbutchery.co.nz

Thomson Home Kill


 

New premises keeps warehousing operation on the Coast

 

Westland Workgear has recently opened a new purpose-built premise in Greymouth. Commercial finance from DWC has helped the company build the 1200 square metre building, enabling them to keep their warehousing operation on the West Coast.

Owner and director Lewis Simpkin said their original premises served them well, but became a constraint to growth, especially due to the lack of warehouse space and facilities for their expanding workforce – which has grown from two to 16 staff.

“We were faced with the option of getting a bigger premise in Greymouth or splitting off our warehousing operation and locating it in another centre (e.g. Christchurch), and retaining our original retail premises in Greymouth,” says Lewis.

Westland Workgear pursued the option of keeping the operation together in one larger building in Greymouth. Unable to find a suitable existing building they looked into building their own.

“Early on in the process contact was made with DWC and maintained through the whole project. We found the staff to be knowledgeable and helpful and very keen to help keep our entire operation on the West Coast,” Lewis says.

“We found banks were very wary about funding a development project due to their fear of the risk of significant cost over-runs. At this point we applied to DWC for a loan to cover the build.

“We wish to express our sincere thanks to DWC for their support and encourage ongoing cooperation with other West Coast businesses to keep our region going forward,” he adds.

From their new building Westland Workgear can now offer a nationwide service - all from the West Coast.

Westland Workgear


 

Development West Coast is specifically excluded from investing in local and central government infrastructure, and cannot provide grants to businesses or to any organisation that may affect DWC's charitable status.

It is the applicant's responsibility to provide adequate information to allow Development West Coast to make an informed decision in respect to the viability of any proposal. It is recommended that where appropriate applicants seek the assistance of their advisors i.e. accountant / legal adviser etc. 

Process2

Application process

  1. Initial discussions with a DWC Capability and Growth Advisor.
  2. Applicant prepares a "Statement of Intent"  for consideration by DWC Management.
  3. Management provides feedback on the proposal.

To minimise the possibility of incurring significant expenditure on a full application, which may be rejected, the "Letter of Intent" allows applicants to gain feedback from management around their proposal. Managements' response on any proposal is not a decision and the applicant must decide whether to proceed with a full commercial application or not.

  1. The applicant decides to;

                              (i) Proceed with a commercial application, or

                              (ii) Not proceed.

                     2.  The applicant lodges a commercial application with Development West Coast.

Applications requesting up to $250,000

(Some applications in this category may be considered under delegated authority by the CEO if the request is under $100,000).

  1. The application is assessed by Development West Coast management.
  2. Management may seek Advisory Body input.
  3. Management provide a recommendation to Development West Coast Trustees.
  4. Trustees decide to:

                            (i) Approve the application, or

                            (ii) Decline the application.

                      5.   Applicant advised of Trustee decision.

Applications requesting $250,000 and above; 

  1. The application is assessed by DWC management.
  2. The application along with Managements' comments and recommendations is considered by the Advisory Body.
  3. The Advisory Body provide a recommendation to DWC Trustees
  4. Trustees decide to:

                            (i) Approve the application, or

                            (ii) Decline the application.

                     5.   Applicant advised of Trustee decision.

Development West Coast will not provide any commentary around applications that are declined.

Feedback and Complaints

Development West Coast welcomes your feedback on any matters, whether you wish to provide feedback on our website content, seek clarification or more information on a particular project or service, or whether you wish to make an enquiry or complaint about our financial service.

If you have general feedback to provide or wish to make a general enquiry about DWC and its services, please click here to go to our general form, email us at This email address is being protected from spambots. You need JavaScript enabled to view it. or call on 0800 768 0140. Our staff will be only too pleased to assist and direct you to the right people. Complaint in relation to Financial Services provided by DWC

If you have a specific complaint in relation to a financial service you have received from DWC (eg, business financing), your first point of contact should be with your account manager at DWC. If you are not satisfied with the outcome, then your next step is to email our Complaints Committee on This email address is being protected from spambots. You need JavaScript enabled to view it. . If you are still not 100% satisfied that your complaint has been addressed fully, then your next step is to contact DWC's external dispute resolution scheme, Financial Services Complaints Ltd (FSCL). Click here to go the FSCL website for more information. FSCL's services does not cost you anything.

While we are happy to receive verbal complaints, we do encourage you to make complaints in writing, and if possible, on the formal "Complaint Form" to ensure your complaint can be dealt with as efficiently as possible.

Complaints Process

2015 12 02 Member of FSCL Logo

 

Hokitika Gorge

Development West Coast (DWC) can provide a range of commercial financing options to West Coast businesses, including lending and even direct equity investment in some cases.

Businesses considering approaching DWC for a loan or investment capital must demonstrate that they meet the objects of the Deed to promote sustainable employment or generate economic benefit to the West Coast region. 

DWC expects applicants to contribute an appropriate level of equity and demonstrate enthusiasm and commitment to their project.  Similar to a bank, DWC also seeks appropriate security against any facilities. 

Commercial Finance Application Form

 


Criteria and process

DWC is specifically excluded from investing in local and central government infrastructure, and cannot provide grants to businesses or to any organisation that may affect DWC's charitable status.

It is the applicant's responsibility to provide adequate information to allow DWC to make an informed decision in respect to the viability of any proposal. It is recommended that where appropriate applicants seek the assistance of their advisors i.e. accountant / legal adviser etc.


Application process

  1. Initial discussions with a DWC Capability and Growth Advisor.
  2. Applicant prepares a "Statement of Intent" for consideration by DWC Management.
  3. Management provides feedback on the proposal.

To minimise the possibility of incurring significant expenditure on a full application, which may be rejected, the "Letter of Intent" allows applicants to gain feedback from management around their proposal. Managements' response on any proposal is not a decision and the applicant must decide whether to proceed with a full commercial application or not.

  1. The applicant decides to;

                              (i) Proceed with a commercial application, or

                              (ii) Not proceed.

                     2.  The applicant lodges a commercial application with Development West Coast.


Applications requesting up to $250,000

(Some applications in this category may be considered under delegated authority by the CEO if the request is under $100,000).

  1. The application is assessed by Development West Coast management.
  2. Management may seek Advisory Body input.
  3. Management provide a recommendation to Development West Coast Trustees.
  4. Trustees decide to:

                            (i) Approve the application, or

                            (ii) Decline the application.

                      5.   Applicant advised of Trustee decision.


Applications requesting $250,000 and above; 

  1. The application is assessed by DWC management.
  2. The application along with Managements' comments and recommendations is considered by the Advisory Body.
  3. The Advisory Body provide a recommendation to DWC Trustees
  4. Trustees decide to:

                            (i) Approve the application, or

                            (ii) Decline the application.

                     5.   Applicant advised of Trustee decision.

Development West Coast will not provide any commentary around applications that are declined.


COMMERCIAL LENDING 

Whatever stage your business is at, whether it is a start-up or a well-established firm wanting to extend its export capability, our capability and growth advisors are your first port of call.

Highly knowledgeable experts with extensive networks throughout the region, they can provide you with advice and point you in the right direction. They will know where to find expertise and support and where to locate technical or commercial personnel who can help you with your business and assist your company to grow.

Capability and Growth Advisory Team
This email address is being protected from spambots. You need JavaScript enabled to view it.
0800 768 0140

 Reefton