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E.Central MN | If you can show your lender that it would be more profitable to change your operation they usually are willing to listen. If the ethanol plant could make money selling the corn and natural gas on the open market for a period of time vs losing a lot of money operating, then the banks would probably go along with it. (similar to the fertilizer plants shutting down because they could make more money selling their natural gas than what they'd receive for fertilizer a couple years ago.) Maybe farmer-owned ethanol plants have different covenants in their loan agreements, but when it comes right down to it nobody wants the ethanol plant in bankruptcy. | |
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