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| I was told today that the banks in my area have decided to charge a flat rate of 5% on all operating notes. In the past, these notes were based off of the prime rate , and we would be charged prime,prime + 1/4, or whatever. Now it seems like the banks want to be like Monsanto and the fertilize industry and stick it in a little deeper. If my bank made a profit last year charging me 1/4 over prime, why do they now want to charge me 2 % over prime. My net worth is 130,000 greater then it was at this time last year! WY Dave or anyone, is there a logical reason, or is it just greed? Thanks all! | |
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Operating Note Interest
