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n. Illinois | they have already tapped that source, for some mulitple of times. I see land payments that exceed $500/ac I have seen them where its almost 100% of an expected gross income. Farm Credit is happy to loan you up to a debt payment that far exceeds your ability to repay it from the current margins available to a grain operation. I thank them many times a year for taking a sinking operation off of my books because they "had land equity" but have shown zero repayment capacity for the last 5 years. | |
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