What are you seeing for interest rates on operating notes going into 2020?
Looking at 4.75% in Southeast Alabama.
4.5%. Just took a budget note for 6%
4.75% in southern Indiana.
Was just quoted 5% variable or 5.25% fixed on a new note. North Central IL.
Between 4.75% and 6.00% depending on the operation and line requirements in SW MN.
6.25 Southeast AR
4.3% currently on my operating loan west central MN
5.25 variable in southern mn
4.85 variable, 5.25 fixed for 3 years Northeast NE
4.75 from east central SD
4.75 south central mn
5.25% variable in IL banker said it will most likely go down before the end of the year
Someone explain the wide variation. Prime rate is the same across the country. Banks borrow all at the same rate so why is there **** a 2% variance?
Likely depends on the type of loan... how much collateral do you have... how much risk does the bank have
Could also be credit union vs small town for profit bank vs big corporate bank vs. Ag lender banks
I have friends and neighbors at different banks that pay 1-2% higher. My banker says part of that is based off of risk. My bank is ag only maybe that’s why there so low??
6.5% south central nd variable
Honestly I only borrow what money is 0% through fbn and jdf
No rental ground or unexpected breakdowns?
My opinion is you are giving up some of the easiest money you can make by giving up 6+% cash discounts.
5.5 NE Kansas
7% NW kansas
My lending bank is a co-op. Getting a dividend based off of 1% of 2019s highest balance.
4.25 south central Minnesota.
Curious if these are lump sum loan payment or revolving lines of credit. For example $100,000 operating loan distributed all at original date of loan or throughout the year as needed. Banker is saying that I should be happy with 6% interest because it’s a revolving loan.
My 4.3% variable rate is a revolving loan. Only requirement is interest is zeroed out at renewal
Get a new Banker
Im with *****, mine is the same as his only 4.5, you need to find a new banker
What is FBN at for a rate
They quoted me over 8% by the time I factored in the originating fee..
I was a little thrown off by that..
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I would be right on that if there was any good land up for sale. Except it doesnt cash flow sooo....
5.76% variable western KS thru High Plains Farm Credit