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| Machinery loans scare me the most. Lenders are pretty loose with them and getting out of them isn’t always simple. A person has to be their own advocate on what a loan will do their bottom line. Bankers only look out for their bottom line, not yours. I prefer to avoid or at least minimize equipment loans.
Most people I’ve seen get into trouble with their opp loan is because they have too much machinery or other fixed debt for the acres they cover and then try to cover the long term notes with the opp note. Chicken and egg sort of deal. It’s not the opp note that actually starts the problems, but the opp is what ends it. | |
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Maintaining liquidity
