|
Frytown, Iowa | Bankers have some funny talk and figures. I wouldn't be surprised if you misunderstood what his numbers meant. My lender has said something about how much per acre something and something should be in a portfolio. I didn't understand it before they ran the numbers nor after and it didn't seem important enough to remember in my head how much or what it was for but it seems he might be talking about assets or working capital to cash rent and if your assets or working capital can't get to your rent with a $250 loan you shouldn't be playing this risk game on that many acres. Pry the same thing as FC saying they won't lend more than $4500/ac. That won't buy you anything but if you need more loan your probably too vulnerable in this high volitility game.
Bottom line is more than likely they are not saying you can't pay more than $250 rent. Just not without having working capital to back it up...
| |
|
Bankers in for bad fall.
