FARMERS’ LOANS
QUESTION OF INTEREST RATES. (Per Press Association, Copyright). WELLINGTON, July 12. Although a statement recently issued by the Executve Commission of Agriculture stated that loans, granted to dairy farmers for the modernising of equipment on their farms would be at the' rate of four per cent., there exists in some quarters an erroneous impression that a farmer will have to pay, in addition, the half per cent, which it is intended, to allow to the dairy fatoary companies to cover any charges incurred in assisting in the administration of the scheme.
This half per cent., however, will he paid to the dairy companies by the Treasury in the cases where a factory borrows money from the Government to advance to its suppliers, or to guarantee any sums borrowed by the individual suppliers. It is the desire both of the Government and the Commission that dairy farmers requiring advances should be able to obtain them at the lowest possible rate, and without the cost of the loan being increased bv administrative charges.
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Bibliographic details
Hokitika Guardian, 13 July 1935, Page 5
Word Count
173FARMERS’ LOANS Hokitika Guardian, 13 July 1935, Page 5
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