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n. Illinois | in the end its the average land payment against all of the owned land.
You could have a single piece that doesn't meet that standard but if the overall is that way your okay.
There however too many operations that the land payment on owned ground is close to or exceeds the gross income of the ground, They are dependent up the margin on cash rented land or maybe a large livestock operation to subsidize.
I have had to deal too many times with Farm Credit or a bank setting a borrower up on payments that do not make sense (IE the payment is 80-90% of the gross income when at best a farmer operator is only keeping 25% of the gross after operating expenses) and then watch the working capital disappear and have to restructure debt as a result | |
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How many debt free farmers?
