Westpac Banking's (NZE:WBC, ASX:WBC) New Zealand unit, via the New Zealand government's Gas Transition Loan Guarantee Scheme, offered businesses discounted lending and extended repayment terms of up to ten years to finance a transition away from reticulated gas, according to a Friday statement from the bank.

Applications for the discounted lending are open on a first-come, first-served basis for eligible businesses, Westpac NZ said.