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| It is hard for banks to lend to large grain farm operations because the production and collateral is spread over such a wide area and there is too much supplier credit and too loose of an attitude about accepting encumbered equipment in on trade. With livestock operations, an inventory can be done fairly easily although some banks are not very good at doing that. My experiences with Wells Fargo is that they generally have a pretty good lending staff on these type of larger loans, but when your borrower is trying to deceive you, it can be tough to catch. I wouldn't think this all happened in one year, so grain inventory should have been a clue?
Brandon | |
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Mike stamp pulling at louisville
