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SE MN | That just can't be true.... Banks sending out mediation notices over 2:1 more than all those mean ol' FCS folks???
Reality Speaks will be along shortly to tell you how it's all Farm Credit's fault and those kind-hearted local banks are really just doing people a favor by shutting them down.
Took my operating loan to Compeer 5+ years ago when local bank insisted on having their names on my grain checks and on my crop insurance even though I had a $0 balance on my line with the expenses for crop in the field all paid. Made every payment early for 20 years and dropped off financial info before they asked for it, never could get the loan renewed on time. Absolutely refused to finance a real estate purchase but couldn't wait to throw $$$ at any and all equipment purchases I ever talked about.
Now, I am aware that every bank is different just like every farm is different and there are probably a lot of good and bad loan officers at both banks and Farm Credits. But that is the way it is "here". | |
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Can anyone confirm this?
