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sw ontario | During '80's crisis farmers at meetings would talk about being upside down on there loans , can't make payments, ect. and at one meeting a sharp guy asked"Do you tell your banker the same story that u are telling us here?"
Or like in Roswell Garsts case the Bank fellow showed up at his farm and his "hired" man thought he was a tax assessor so he told him how bad a farm it was,ect. thinking he was "helping" ..According to David Garsts book the bank then thought maybe they should close him down
At a real business audit they do not ask u what prices u put on buildings/machinery , they look at what u insurance value u placed on them . Any knowledgeable banker should easily be able to calculate / check grain & livestock production & gross $$ fairly close | |
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Boersen is not alone
