01 September 2010

Nigel Watkin

The receivership of South Canterbury Finance on Monday and 10 days ago of Allied Nationwide Finance creates a large hole in the second tier finance market for borrowers. These company’s, and many others that have previously collapsed, were the lenders to SME”s who could not get bank loans or loans from the blue chip finance company’s, UDC and Marac. Where these borrowers now go is the unanswered question and this in turn will effect these businesses growth plans.