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Lending question
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<blockquote data-quote="DLD" data-source="post: 1413647" data-attributes="member: 19707"><p>Every Farm Credit association will be different to deal with, just like every commercial bank. That's like saying never drive a Chevy because you don't like your local dealership. Yes, you're going to need pretty good financials to deal with a Farm Credit, but in return you're getting better rates and better terms than most commercial banks will offer, not to mention I know of no commercial banks that pay patronage, but most Farm Credits do. </p><p></p><p>Around here, most of the mid sized banks are being bought up by big banks who have little to no interest in ag lending. I agree that small local banks are usually the easiest to deal with, my local banker has never told me no, but he doesn't negotiate on interest or terms. You take it or leave it. I do all my short term stuff with him because it is easy, but Farm Credit has always been a far better deal for us for anything longer than a year or so. </p><p></p><p>There are some local and regional banks in some places that are competitive ag lenders, I'm certainly not saying not to give them a chance if you have one or more of those nearby, but I know something about the situation here in SW OK. I still stand by my statement that Farm Credit is worth looking into as well.</p></blockquote><p></p>
[QUOTE="DLD, post: 1413647, member: 19707"] Every Farm Credit association will be different to deal with, just like every commercial bank. That's like saying never drive a Chevy because you don't like your local dealership. Yes, you're going to need pretty good financials to deal with a Farm Credit, but in return you're getting better rates and better terms than most commercial banks will offer, not to mention I know of no commercial banks that pay patronage, but most Farm Credits do. Around here, most of the mid sized banks are being bought up by big banks who have little to no interest in ag lending. I agree that small local banks are usually the easiest to deal with, my local banker has never told me no, but he doesn't negotiate on interest or terms. You take it or leave it. I do all my short term stuff with him because it is easy, but Farm Credit has always been a far better deal for us for anything longer than a year or so. There are some local and regional banks in some places that are competitive ag lenders, I'm certainly not saying not to give them a chance if you have one or more of those nearby, but I know something about the situation here in SW OK. I still stand by my statement that Farm Credit is worth looking into as well. [/QUOTE]
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