NE Ridger - 7/31/2014 14:10
Foliardud - 7/31/2014 08:53
Keep in mind a good friend from Algona, IA which he is in close contact with ag lenders made a statement the other day
The bankers are calling me and asking call loans now or wait till fall?
His answer was wait! But what is going though the lending industry?
I guess I don't understand.
What loans are they calling? Do those loans not have terms? For instance, my 2014 operating note is due March 1, 2015. The bank can't ask me to pay it off before then. Or my land loan is due Jan 1. As long as I make the minimum payment Jan 1, they can't ask me to pay the rest off.
So what loans are they considering calling? They can't call a loan unless payments are missed. Are guys behind on payments already!?!?
its called the "demand clause" of the agreement. Lots of loans have them, and yours probably do too. I went thru that in '85; was current on payments but balance sheet dropped like a rock from land I purchased in '81. Was a very hard pill to swallow.
Lowering Costs In A Down Market
