A loan from SWIFT helped Putāruru-based steel building structure company Green Frame obtain three new machines worth several hundred thousand dollars.  Pictured is director Sam Wulff.

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A loan from SWIFT helped Putāruru-based steel building structure company Green Frame obtain three new machines worth several hundred thousand dollars. Pictured is director Sam Wulff.

Loans with below market interest rates are used to fuel business growth and investment in South Waikato.

They are offered by South Waikato Investment Fund Trust (SWIFT) and CEO Amanda Hema said “five-year discount loans can be transformative”.

“Our interest rates are typically lower than market rates and we are very community focused.

“Businesses must be located, or in the process of relocating or expanding in South Waikato, to receive a loan,” he said.

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Sam Wulff, director of Green Frame, a Putāruru-based steel building structure company, and Stephen Mulholland, owner of Van Dam Plumbing 2020, are two examples of what a SWIFT loan can do for a business.

Wulff said SWIFT financed and undertook the security of three steel roll forming machines worth several hundred thousand dollars, allowing the company’s owners to use their money for installation and product development costs.

“A great advantage in these times of shortage of construction products is that steel can be rolled in a week,” he said.

“Green Frame is also developing one-, two-, and three-bedroom modular homes that can be delivered on the back of a trailer and assembled on site.

“By having the SWIFT loan, we have free capital to develop these new products.”

Van Dam Plumbing 2020 owner Stephen Mulholland and his family with the new excavator a loan helped them get.

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Van Dam Plumbing 2020 owner Stephen Mulholland and his family with the new excavator a loan helped them get.

Mulholland said a five-year SWIFT loan helped the company replace a 30-year-old bulldozer with a new, larger machine, a Toyota Hiace pickup, and hire five new employees.

“The SWIFT loan is fantastic. My partner and I used our savings and bank loans to purchase the business in 2020, but needed additional financing for new equipment and staff to effectively serve customer needs.

“We got the SWIFT loan in 2021 and it is locked at a below-market interest rate for five years.

“One of the conditions of the loan was that we had to hire three new employees by 2026. We got it done in the first few months and we just hired two more,” Mulholland said.

SWIFT has recently reinstated its minimum business loans to $50,000 and has also updated its grant funding model.

Minimum grants are now set at $25,000 and are available to nonprofit organizations that provide educational and training opportunities, or community infrastructure that encourages business investment to improve the quality of life in the district.

Community grant applications opened on August 1 and close on September 15.

“The focus is large-scale impact,” Hema said.

“It’s about incentivizing growth.”

He said that over the next three years, SWIFT will focus on managing its investment portfolio to deliver the best results for South Waikato, supporting existing businesses to succeed and grow, and working with key industries to ensure they can access hand work and the skills they need. to succeed.

“With all new loans, our community liaison coordinator will introduce the business to our training and employment partners and do regular check-ins.

“When the loan ends, we don’t go out of the picture, we can bring them into another loan deal to support additional growth plans,” Hema said.

SWIFT has published its new award and lending criteria on its website, please visit www.swift.org.nz for more information.

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