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Mar 11, 2009

CREDIT SHORTAGE * Australia - Raises ATA's eyebrows

Sydney,Australia -ATN -12 March 2009: -- The Australian Trucking Association (ATA) has expressed its concern over the apparent shortage of credit for trucking companies and says it will raise the issue with the Federal Government... ATA Chairman Trevor Martyn says major lenders have cut back on issuing finance to transport companies... “A number of major lenders have effectively stopped lending to transport companies, or are charging higher interest rates than the market average,” Martyn says... The National Bank of Australia (NAB) denies its policy on lending to transport companies has changed and says its policy on lending is the same for all types of business...

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