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Cattle Expansion Funding
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<blockquote data-quote="C-Ranch" data-source="post: 1715580" data-attributes="member: 24325"><p>Using credit is good and bad depending on the need. I have worked with the same bank for the last 12yrs and my father worked with the same bank for 20yrs before that. They know our operation and know cattle/farm risks. 4yrs ago we decided to expand and put in a new pivot and mainline. The banker said we should do it all (1 additional pivot, 2 wheel lines and all the piping) but I was wanted to be safe and do it slowly. Well now today, that same expansion is twice the cost as it would have been. Just one pivot is more than the rest of the expansion. So being safe is good, but sometimes it can cost you more money in the long run.</p><p>Also we have never put up land as collateral, so all we loose is cattle or equipment. We can always rebuild, but don't ever want to have to buy ground again especially at today's prices. Luckily we don't owe much and trust our banker. If he says go we do it, but if he's says he wouldn't we wait.</p></blockquote><p></p>
[QUOTE="C-Ranch, post: 1715580, member: 24325"] Using credit is good and bad depending on the need. I have worked with the same bank for the last 12yrs and my father worked with the same bank for 20yrs before that. They know our operation and know cattle/farm risks. 4yrs ago we decided to expand and put in a new pivot and mainline. The banker said we should do it all (1 additional pivot, 2 wheel lines and all the piping) but I was wanted to be safe and do it slowly. Well now today, that same expansion is twice the cost as it would have been. Just one pivot is more than the rest of the expansion. So being safe is good, but sometimes it can cost you more money in the long run. Also we have never put up land as collateral, so all we loose is cattle or equipment. We can always rebuild, but don't ever want to have to buy ground again especially at today's prices. Luckily we don't owe much and trust our banker. If he says go we do it, but if he's says he wouldn't we wait. [/QUOTE]
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