central - east central Minnesota - | dt943 - 5/12/2016 16:56 If you had an operating loan at a bank and pledged your machinery as colateral, when the loan is paid in full all accounts closed, can the bank keep your machinery tied up in case you need something in the future? If it is a simple loan - not a revolving line of credit, no - the bank should release the collateral. It's up to you to make sure the bank releases the collateral. Check your county records department . . .. . If you take out a new loan, the terms and conditions could likely be different . . . .. . . |
Bank question
