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SE IL | Short answer that's the way it is. Long answer is you have to make the land payment but you could choose not to pay the rent. Of course you could also choose not to make the land payment but that has different consequences. I assume you are working on an operating loan. In that scenario the rent is an expense that is (hopefully) covered by the sale of the crop just like seed, fertilizer etc. Whatever is left after direct expenses is available to cover loan payments, taxes and family living. Any above that would be available for capital expenditures. | |
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I need a banksplination
