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Saronville NE | You mean you are supposed to pay it back? JK I almost always have machinery debt paid off early, make like 1.5 payments a yr or something like that, usually on a 5 yr note it will be paid off in 3 or 4 max. I always put a little money aside for cushion wether it is the right move or not, just makes me feel better to have some cushion, or some cash to buy a farm if the right deal comes along. Just had a conversation with a banker yesterday, he asked about paying operating note off every yr, we havent had a operating note to 0 in yrs, how do you do that when feedin cattle and such, always buying cattle or inputs year round, but always good liquidty where the money is there to pay it off, he says thats what I wanted to know. But get the feeling talkin to a couple bankers some of the straight rowcrop farmers have made so much money last couple yrs that they are to 0 before harvest is over, or borrowing very little money, so they need a few of us to borrow money so they can keep there doors open ;) | |
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How do you pay back your debt?
