asked the Financial Secretary to the Treasury how many applications for loans from farmers are now being considered by the Public Works Loan Board; what is the average delay between the receipt of application and the decision to lend; how many such applications have been agreed to and turned down, respectively; and what is the average charge per 100 lent to the farmers?
864 applications have been granted and 25 refused in the 18 months since the scheme started. Fresh applications are received at the rate of about 24 a month. No avoidable delay occurs on the part of the Public Works Loan Board in dealing with applications, and the time taken in any particular case naturally depends partly on the promptitude with which the Board's inquiries are answered The fees charged by the Board are in accordance with a scale which I will circulate in the OFFICIAL REPORT. No charge is made for the necessary valuations of property which have to be made.
The fees or sums to be paid by the applicants in respect of loans shall not exceed the following sums, namely: