10 Sep 2010

SCF borrowers will continue to get funding - receivers

1:05 pm on 10 September 2010

The receivers of South Canterbury Finance say its consumer and business borrowers will continue to get funding support as long as they're meeting the lending criteria.

Kerryn Downey and William Black of McGrathNicol say the confirmation of continued funding for South Canterbury's performing customers will help to maintain the company's business operations and preserve its assets.

The receivers say they have worked closely with senior management at South Canterbury over the last two weeks and have made considerable progress in stabilising its operations.

They are continuing to get enquiries from prospective buyers of South Canterbury's assets, and more details about the sale process will be made soon.