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Sw. Ill | help me understand this,
on my balance sheet it is to include current personal off farm debts (credit cards, accounts etc.) but my personal off farm income is not considered. So in my situation since my farm is so small, and just grain there is no working capital. and when you account for those personal current debts, it goes negative. I have no sellable grain or livestock assets currently to offset this. so when the Banker views the balance sheet it looks really bad.
So I guess my question is for the guys who's primary income and debt is off the farm, how do you make the farm balance sheet look better? My farm cash flow is fine, and I have a profitable crop plan for 2019. But when I tried to apply for a operating loan all the banker seemed to care about was working capital, not income or assets. | |
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Balance sheet questions
