Local company provides finance for local people

Press, 12 October 1988, Page 41

Local company provides finance for local people

Canterbury Finance Limited is based in Christchurch, and owned by interests associated with Mr A. J. Hubbard of Timaru and Mr H. J. D. Rolleston of Christchurch. With one office and a staff of seven, it can devote prompt and personal consideration to all finance applications, and all decisions can be made on a local level by people with an understanding of local problems and idiosyncrasies.

“One of the attractions of dealing with Canter-

bury Finance is its small staff,” explains David Heard, the general manager. “We don’t have the same staff turnover as the big corporations. People get to know the faces, and they can come up here and talk to the same people every time.” Canterbury Finance is a consumer finance company, dealing mainly in the retail car finance market and consumer durables, but also supplying personal and small business loans. It has over 70 dealers

throughout New Zealand and over 3500 customers, most of them Canterbury based.

According to Mr Heard, it always has money to lend and its interest rates are "competitive.” The company has never let a dealer down.

Canterbury Finance’s operation is funded by strong shareholder support and borrowing from the wholesale money market.

It adopts a conservative and informed approach to lending, but because deci-

sions do not have to be referred to an out-of-town head office, results can often be gained more quickly.

The company receives strong support from its dealers and its customers, and in its six years of business has built up a strong operational base and a good reputation. It is now looking to expand into the local industrial market, providing loans of up to $lOO,OOO to support the expansion of businesses in the productive and export sectors.