BUSINESS LOANS

Otago Daily Times, Issue 26783, 28 May 1948, Page 4

BUSINESS LOANS

V; eligibility extended AVAILABLE TO DISCHARGED HOME SERVICEMEN sOFOOV. WELLINGTON, May 27. Immediate eligibility for certain types of business loans has been extended to discharged home service- . men of long service. The Minister of Rehabilitation. Mr Skinner, said this afternoon that previously such men had not been immediately eligible on the grounds of service alone, but had had to show some special circumstance,. such as the need to change vocation as a result of physical disviabJlity caused by their service. An case for consideration had K/been the loss of actual business owing > fo the serviceman having had to enter litfhS forces. aHiSrhefi>new “immediate eligibility” applies to discharged home serJvicemen who have to their credit four Ifpfe'arsKar more in the home forces or including (1) any overseas pifs&ryice' if the serviceman was at the '■ Jfrne. posted to an overseas unit, or least one month's service overthe serviceman was not at the ■tjtlfne-POSted to an overseas unit. \ Skinner said that the loans for -vrfhich those in the eligibility category ' apply were for setting up in ?as tradesmen or as fullyqualifled professional men in their o-vCi calling, including the purchase of -/ exiting businesses or working partnerLoans for such purposes would t,e made .for The purchase of tools, y-hopki, etc. They would be limited /'p, .£500"to ®ach applicant, who must B not available to discharged llJSllilllflyitieitien wishing to engage in I jiian'tfacturing, wholesaling or retailing businesses or in any licensed busir nesses, or 'businesses dependent on ' rationed good's; or import licences. .■V-!-The,new ruling is'designed to assist v'such. .pe&pns as'- fully - qualified y plumbers, , painters and electricians, . and also architects, accountants, den.j 'tists .and other prbfessional: men. The added that already men with ;li: similar: home service eligible! to U; supply /for. housing loan assistance on Ijthe grounds of their service as apart fcfrom other considerations. \