north central Ohio | Indrtfmr - 4/11/2024 10:37
But that's what happened, loan was being paid but the collateral was going down in value so even performing loans were called.
From what I understand talking with my Dad he said this is not what happened. The trouble was with guy's operating loans. Value of land, machinery, and profit margins dropped to unfavorable levels and banks did not want to renew operating loans to guys that were border line struggling. Many he said would eventually be renewed but had guy's buying high priced inputs in season and delayed getting crops planted. Banks really snow balled guys not getting them loans to be able to buy things cheaper and/or time. |
Stamp and Boerson
