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Greencastle, Pa. | In 1996 we wanted to double the size of our turkey operation and was looking at different ways to finance it. This is what we did. We still owed on the farm land and buildings from 1979, and a large amount on the first part of the turkey operation from 1992. Most of that money was in the 9/10% range.So, taking a hard look at it all we decided the thing to do was roll it all [including the new turkey barns] into one "package" Took all the time we needed to put it all to gather [all the i's dotted, t's crossed,etc,etc.] then put it out on "bid" to ten different banks/loan insitutions. I never called a one of them, they ether called or sent a bid. Ended up the local bank that we dealt with got the bid,8.35% int. rate fixed. As intrest rates dropped in the late 90's early 00's we have gotten the interest rate down to 5.75% fixed for the life of the loan. This has really worked for us. We look at "Money" as a "Commodity" or "Input" just like seed,fertilizer,equipment,etc for the farm business.
"Kingbaby" | |
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Open farm up to bids for inputs
