Low-cost money for disabled

Press, 10 August 1982, Page 6

Low-cost money for disabled

A $200,000 grant from last year’s Telethon trust to the New Zealand Paraplegic and Physically Disabled Foundation will mean a boost in low-cost finance available to disabled people. A cheque for the grant will be presented to the foundation's board of trustees at its annual meeting on Friday by two’of the International Year of ’the Disabled Person Telethon trustees. Ms Ann Ballin and Mr Justice Casey. The foundation acts as “a lender of last resort.” according to the secretary. Mr J. L. McKie. “We expect them to approach the normal lending institutions before coming to us.” he said.

Loans made by the foundation , are for’ mortgages, bridging finance, alterations and improvements, the purchase of cars, and for business purposes: Mr McKie said that a survey of paraplegic and disabled people showed that they did not want charity or handouts but access to inexpensive money and this was what the foundation tried to supply. In the year ending June 30. 1982. the’foundation made 12 loans totalling $98,000. Six of these were for buying a house, two for refinancing a housing loan, three for buying a car and one was a business loan.