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Amherst WI | So your saying you never borrowed anything for operating?
I'm not saying it can't happen but it is true my a feat to do that. I didn't borrow anything for operating either until about my 7th year because my growth was out pacing what I could do with my own cash. I also had 3 bad years in a row as well that cleans out our cash reserves for a whole in 06, 07 and 08.
You also have to keep in mind a whole crop was about $200-250 an acre to put in 20 years ago too? Seed corn was under $100 a bag, 9-23-30 was $200 a ton, diesel was $.90 ect... It's a lot easier to come up with that kind of funds to get started even though I admit a really good job back then was probabley paying $20 an hour.
Congratulations on your accomplishment. | |
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which would the banker rather hear?
