American banks

[Westside]

Does anyone use American banks for financing all or part of their operation.
If so what American bank do you use?

[farmaholic]

How the hell would that even work.... with the exchange on the loan proceeds , payments and interest rates?

[vvalk]

Does anyone use American banks for financing all or part of their operation.
If so what American bank do you use?

Interest rates are higher in the US and the thought of exchange risk could really hurt. Better way is to borrow in US$ Is from a Canadian bank on the Libor

[ajl]

You would never borrow in USD as that is the reserve currency but a good question as to where to store some cash as the $Cdn will fade out of existence over the next 30 years. Large purchases like machinery will require you to have USD as the relative value of loons, pesos, yuan and all other toilet paper currencies etc. can't be determined.

[SASKFARMER3]

Set up a USA bank account we did years ago in Phoenix and had one in billings Montana.

Don't borrow in USA use a Canadian bank and do currency exchange and settle what ever you buy homes etc.

But also do your homework on home purchases. Set up a trust so can go to next of kin works but has to be renewed every 20 years I think.

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