- Location
- Llangernyw
Ive been speaking to quite a few farmers over the last month or two and have had some alarming stories, namely banks reducing or removing overdrafts once SF payments have been received , therefore cutting the lifeblood of cash-flow off when its needed most. I'm disgusted to hear this is happening to farmers ,,, but i shouldn't be surprised when i think about it a similar thing happened to us 4 years ago, mid recession, our bank changed all there criteria for renewing overdrafts and what happened to us was on renewal they changed a large percentage of our o/d into a loan, we had no choice in the matter even though the o/d was working for us and we had never once in 10 years exceeded it. The only effect on us was of course to hamper cash flow even further , just wondered if this is a minority situation or a larger problem, either way banks are still not working for small business/ farms ... feel free to rant!!