Source: ASB ASB has cut its Business Finance Guarantee Scheme (BFGS) interest rates to help ensure more businesses benefit following the schemeâs latest extension, announced by the Government today. The revised Government scheme includes more flexibility and extends the deadline for BFGS applications from 31 December, 2020 until 30 June, 2021. While all BFGS lending is priced individually and at a substantial discount on normal rates, ASB today announced a discount on current BFGS term loan rates of 0.30%. ASBâs executive general manager Business Banking Tim Deane says, âThe extension of the BFGS scheme is welcome news as it will enable ASB to help even more Kiwi businesses. We want to help make the extension even more impactful by adding our support with a rate discount of 0.30%. These rates will be available to new and existing BFGS customers from 18 December. This is about doing right by our customers, and the New Zealand economy more broadly.â