Increased farm loan rejection rates are being reported by more Midwestern banks. And almost two-thirds say they’ve increased their collateral requirements on farm loans in reaction to weak farm income.
Creighton economist Dr. Ernie Goss, who surveys bank CEOs each month for the Rural Mainstreet Index, says while that’s a concern, it’s not quite as dire as it sounds.
“We’re still seeing default rates, the foreclosures, the late payments, (are) still not very high,” Goss says.
Continue reading Survey of rural bank CEOs reflects some concerns at Brownfield Ag News.
