Wise family farm and business borrowers will use this time while banks are not chasing up arrears on loans, to extend their loan period with the right to pay back early if able to.
If they are lucky enough to be showing good profits due to high prices then it may be the time to send the bank some financial statements.
We could be in the lull before the storm. It is easier to obtain better treatment then than if you seek it in the eye of the storm as people often do. Forward planning pays. Remember that interest is not deferred when repayments are.
Should you need a hand do not hesitate to call us on 0428 417 496. GBAC Advisory has been helping people manage their bank loans since de-regulation in 1987.
Being a retired Chartered Accountant and CPA, having run my own sheep and cattle properties, hire companies and real estate developments I know how good it is to have your loans always under your own control.
Never put up with bank abuse and remember that in terms of loan consultants you generally get what you pay for.
We have some very special tools for making banks play ball.