10/24/2017 07:41 AM
The banker has all of the power when it comes to a loan, right? Wrong, says Michael Boehlje, Purdue University agricultural economist. "Approach your lender as an equal, because you are," he says. "You don’t have to beg for money."
In Boehlje’s view, successful farmers are highly desirable customers and have more power in negotiations with lenders than they might imagine. It’s important to take the time to compare rates, terms and other parts of the deal with a handful of lenders before signing on the bottom line