# Ag Bankers Prepare For Tough Times



## Vol (Jul 5, 2009)

Not a good time to be over-leveraged.

Regards, Mike

http://www.dtnprogressivefarmer.com/dtnag/common/link.do?symbolicName=/free/farmbusiness/news/template1&product=/ag/news/farmbusiness/features&vendorReference=0702DA77&paneContentId=70118&paneParentId=70104


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## Bonfire (Oct 21, 2012)

Dr. kohl retired from Va Tech. A few months ago, he spoke at a Va Farm Bureau Young Farmer's conference. I went and had a listen to his talk. There was a fair amount of local professionals in attendance. Much more than a bunch of FFA and college students. He's sharp and very well respected in this neck of the woods.


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## carcajou (Jan 28, 2011)

Never had a banker show up to my farm, let alone once a month. If they are that concerned about their money they can keep it.


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## Teslan (Aug 20, 2011)

I learned something from that article. You can borrow from ag loans for living expenses? That just seems wrong to me and unwise on the part of the farmer and the bank. I have my first farm loan this year. Just a $200,000 line of credit. It was meant to buy houses to fix and flip. But nothing good has come up. So I used it to buy my loader. However I could pay it off anytime. I guess I could see the temptation of borrowing easy money because I was shocked into how easy it was to get that line of credit. It's basically unsecured and based on what I told them our income was as well as our credit scores and history. Also as far as the articles. A condo in Lincoln Nebraska worth $1,000,000? That's kind of hard to believe a condo could be worth that much outside of New York city.


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## endrow (Dec 15, 2011)

A big line of credit is tempting and requires discipline . Dairy Farm out the road couple years ago went bankrupt owed everyone and when restructured everyone in the area just got pennies on the dollar . It amazed me they got money to start back up never sold the cows and all his debt forgiven. 18 months later same story owed for seed, feed fertilizer you name it. and rumor got out after all that, he got a big line of credit somewhere, soon as thye got the money a new$ 55 K suv in drive and digging for a pool. They are still going this day yet same tactics . I hope the days of easy lending / cash are over


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## Teslan (Aug 20, 2011)

endrow said:


> A big line of credit is tempting and requires discipline . Dairy Farm out the road couple years ago went bankrupt owed everyone and when restructured everyone in the area just got pennies on the dollar . It amazed me they got money to start back up never sold the cows and all his debt forgiven. 18 months later same story owed for seed, feed fertilizer you name it. and rumor got out after all that, he got a big line of credit somewhere, soon as thye got the money a new$ 55 K suv in drive and digging for a pool. They are still going this day yet same tactics . I hope the days of easy lending / cash are over


Sounds like that dairy farm not only didn't have discipline, but was out right being dishonest with it.


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## Vol (Jul 5, 2009)

Teslan said:


> Sounds like that dairy farm not only didn't have discipline, but was out right being dishonest with it.


Like about 40-50% of people in this country......unfortunately.

Regards. Mike


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## somedevildawg (Jun 20, 2011)

Purty close on that stat Mike and that's pathetic ......people of quality character are getting harder and harder to find.....seems to be an epidemic that crosses all racial, political, ethnic boundaries....


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