Dunn County farmers face loan gaps for spring planting
Richard Most of First Bank and Trust of Menomonie told the Wisconsin Bankers Association forum that up to 200 Dunn County farmers may be unable to obtain operating loans this spring. He cited 5 to 8 percent of the county's 1,800 farmers at risk, discussed cash flow lending, FmHA and ASCS staffing, and caution about moratoriums on foreclosures while aiming to keep farmers on the farm. He urged phasing out price supports in favor of broader budget balance and dollar parity.
MENTIONED IN THIS ARTICLE
Dunn County
Richard Most
First Bank and Trust of Menomonie
Wisconsin Bankers Association
Mr. Most
Most
Wisconsin Farmers Not In Financial Trouble Report
Wisconsin Bankers Association members say 84 percent of farmers are not in financial trouble while some deposit customers seek short term loans. Older farmers may retire but stay on farms awaiting land sale proceeds as land values drop 27 percent over five years. About 4.5 to 6 percent face credit risk for spring operating loans. banks averaged one bankruptcy and one foreclosure this year.
MENTIONED IN THIS ARTICLE
Wisconsin
Wisconsin Bankers Association
Agriculture Crisis Forum
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