The human face of lending

Private, Commercial, Development, Business and Property Finance

The human face of lending

An elderly farmer who lived between Wollongong and Canberra needed finance to sub-divide 9 lots from his farm so he could see them

This would enable him to pay off his debts and to continue farming

He approached numerous banks and financial institutions but was turned down by each and every one

Although he had plenty of equity, he was denied a loan because he did not conform strictly to the lending rules laid down by these big institutions

They informed the farmer that his application was refused because of factors such as it was too remote, the lots were too small, he did not have any pre-sales

The rules precluded him even though his credit was good and it was a sound business proposition

He then approached PCL Money which being one of Australia’s most experienced Finance Brokers understood the need to go and see the farmer’s operation first hand

PCL Money’s philosophy is that in deals like these you need to go get yup from your desk and actually there and get mud on your boots

PCL visited the proposed sub-division, spent some time with the farmer and came away with the impression that it was a solid deal and the farmer deserved support

PCL Money was able to provide finance for the farmer and an interest rate that was better than many of the lending institutions that had turned the farmer down

The famer was able to pay off the loan completely after selling the first three lots

That is the human face of lending and PCL Money understands that people more than just numbers on a balance sheet

AT PCL Money, a client’s needs are our most important consideration .