RURAL CREDIT WORK
SMALL LOANS POPULAR Press Associatioii WELLINGTON, Tuesday. The Rural Intermediate Credit Board reports that the volume of direct applications is well maintained, and a notable feature of the board’s operations has been the increased interest upon the part of dairy companies in the discounting system, by which loans up to £ 200 in the case of any one borrower are provided upon promissory notes of farmers, endorsed by dairy companies whose financial position has been established to the satisfaction of the board. This is an expeditious and economical method of securing small loans for seasonal requirements such as the purchase of manures, seeds, and minor stock purchases. As no securities over farming stock and chattels are required, the expenses of valuation and the preparation of securities are avoided. A report was submitted on the steps taken to bring the debenture issue of £IOO,OOO before the public and farming interests.
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Sun (Auckland), Volume IV, Issue 1031, 23 July 1930, Page 12
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151RURAL CREDIT WORK Sun (Auckland), Volume IV, Issue 1031, 23 July 1930, Page 12
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