Not mentioned changes to advance programs

[eeyore]

New changes to the grain advance program are now once an account is placed into default the 6 month penalty to participate is now 12 months.
There must be an increase in poorly managed accounts and this will reduce the default accounts in the future.......or not ?
If your going to loose your drivers license with a .08 mite as well have a coupe more before you hit the road, just sayin

[TOM4CWB]

With very low cost to borrow... and abundant credit... avoid advance system and problems.

Until credit tightens up... I agree in default tightening up... no excuse to default now we can repay in money instead of grain.

[Oliver88]

The advance system has been greatly improved from my point of view.

You can pay back 100% of the advance by Jan 31, 2016 without providing proof of a grain sale.
Gives the farmer a lot more flexibility.

[eeyore]

Good deal !! Unless you really need it.....

[Richard5]

Have not used cash advances for since 2006. Have never used input credit from viterra, fcc etc ever.

I hope to keep it that way

[MBgrower]

Same, i never use cash advances, nor grainco locs. Terrible business practice in my opinion.

[Oliver88]

How is using a 0% interest cash advance a bad business practice?

I agree the grain company LOC is a bad deal.

[MBgrower]

Its not good to become dependent on free services to finance a business.