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EC North Dakota | I go in with a current balance sheet, I have always done this based on 12/31 of previous year. I have developed my own spread sheet based on balance sheet and supporting schedules from a lender I used to work with. I go in with a cash flow projection for the coming year as well, this is to provide both me and lender with a rough road map for the coming year and to show payability with projected expenses and cap purchases for the new year.
I have always used FSA prices and 5 year average for budgeting income.
Usually takes about an hour and we are done.
I do update lender frequently during harvest with projection updates and keep them informed of any major purchases whether they are involved in the money part of the deal or not. | |
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annual visit to the lender
