Priorities for farm loans
(From Our Own Reporter) ( WELLINGTON, March 25. J The State Advances Corporation ’ will continue to give priority in loan assistance in drought and flood areas to j applications to rehabilitate farmers i after climatic disasters.
“The purpose of these loans is to provide essential maintenance and farm working expenses,” the Minister placement of stock and living expenses,” the Minister in charge of the State Advances Corporation (Mr Rae) said today. In special cases, where these measures are insufficient to achieve rehabilitation consideration will be given to refinancing of hard-core and other debts.
Advances will be made against such security as is reasonably available, and the form in which it is taken will to a large extent depend on the measure of assistance 1 granted. The interest rate will be 5J per cent, irrespective of security. Interest only would be payable for the first two years, after which accounts would be reviewed to fix terms of repayment.
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Bibliographic details
Press, Volume CXI, Issue 32565, 26 March 1971, Page 3
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160Priorities for farm loans Press, Volume CXI, Issue 32565, 26 March 1971, Page 3
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