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Arlington, KY |
Versatileman,
I am reluctant to give financial advice, especially knowing so little about your operation. I am a director in the farm credit system however so I know a little about this type of situation. Selling your equipment is not a good option in my opinion. You will sell at a wholesale price and pay retail when you repurchase. Have you considered taking a small amount of term debt against your assets? You need your assets to work for you in this situation. Again, not knowing your situation it is hard to give solid advice. I agree with the others, communication will serve you well in working through this with your lender.
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Young Farmer Dillema.... looking for advice?
