INP

[dykercaseih]

And in many cases it's the interest not the principle that does guys in. So the question is are the traditional failing?? There will be lots of guys missing payments due to no crop so should FCC be pulling the plug? That's my question here should these institutions not have more faith in the farms and the programs. Because if they don t then obviously the poor programs are t doing their jobs

And what is the interest they cHarge? Seems to be lots of mystery to that question.

14% magic number

[hobbyfrmr]

[QUOTE=dykercaseih;350200]14% magic number[/QUO

Within that 14% you get a free case of Roundup, a leather INP.V jacket, an Invigor hat and automatically enroll for a chance at a free trip to Mexico.
So its not all bad. (Place cute warm fuzzy emoticon here).

[farmaholic]

14%!!!!!!!........LAST GASP, taking on water.

Thanks no ****in life saver they're throwing. .....its an anchor!

God I hope your bullshitting dyker.


Re programs....the fellows I feel bad for are the ones who through no fault of their own, incessant bad weather, were pushed to the edge. The guys who got themselves there on their own through poor management or overspending.....sorry, no program should bail out that sitution.

[iceman]

14% magic number

Correct that's the ROI given canola stays in the 500 range. Over that it increases



Iceman

[FertaCloud]

14%?? One could argue that a guy could get more favorable loan conditions from the mafia, broken thumbs and all.

[SASKFARMER3]

Its modern day Loan Shark.

The Don in Chicago has better rates and either way your done if you can't cover it.


They get your land or you get cement shoes.

[Misterjade9]

So Input charges 14%, if you don't make your FCC /CCGA/line company input payments the default rate is 18-19%. Does that make them loan sharks? Seed companies, ie.Canola seed, goes up every year what is their ROI, we buy it does that make them loan sharks. I am neither defending nor chastising Input, with the times we are in in ag they have found a gap in traditional financing and are exploiting it to their investors advantage. This model of has been used for years in the mining sector, a junior exploration company will pre sell a portion of a known deposit for a fixed price for working capital, most often to a larger more established mining company. However they know exactly what the reserves are and know they never deplete, unlike our crops in this weather, but when you read in news that a junior has been bought or acquired by the larger company it sometimes means that they didn't fullfil the deal, but not always. I guess what I am saying is we all have a choice on how we operate and if we don't like something we don't use it, it doesn't mean it won't work for somebody else.

[iceman]

Is this true on default CCGA & FCC is 18%?


Iceman

[Richard5]

Is this true on default CCGA & FCC is 18%?


Iceman

I can't comment on CCGA. Have never defaulted on cash advance or inputs credit and the last 8 years or so I quit using these things all together.

Input accounts especially are the same as credit cards. Default on the payment terms and the high rate of interest goes back to date of purchase. I would expect it is at least 18% of not 24%.

Those that signed up for Input Capitals Scheme have either fell for the sales pitch, didn't ask some for advice about it or were not able to get credit anywhere else. It is truly a shame that these farm operations turn to this method of financing and either don't have a good accountant helping them or are just that out of touch in managing their business. I also believe that for a number of producers its all the show and they do whatever it takes to look good from the road without understanding the business side and if their farm is making any money.

This group of criminals running this scam of Input Capital corp (in my mind) are causing something in Saskatchewan that is really, criminal. There is a reason why a number of these are in court and in dispute.

[hobbyfrmr]

Insiders are dumping their stock is an interesting development. ....

That is another methid of sucess for inside investors/principlas. Submit the proper reporting....142 new contracts...... INP is doing what it says, non farming people want a piece of that sweet easy farming money and buy in. They feel like they are investing in a good thing. Food production, progressive farmers, agrologists, forward contracts innthe futures market to secure revenue. Blah blah bkah When stock price rises sell off for cash, pay yourself. It is all legal.
Nobody.....and I mean nobody even thinks about the weather. I am willing to bet that 70% of shareholders cannot step out their door and physicslly see a star in the sky. Its all about the presentation.

[hobbyfrmr]

So Input charges 14%, if you don't make your FCC /CCGA/line company input payments the default rate is 18-19%. Does that make them loan sharks? Seed companies, ie.Canola seed, goes up every year what is their ROI, we buy it does that make them loan sharks. I am neither defending nor chastising Input, with the times we are in in ag they have found a gap in traditional financing and are exploiting it to their investors advantage. This model of has been used for years in the mining sector, a junior exploration company will pre sell a portion of a known deposit for a fixed price for working capital, most often to a larger more established mining company. However they know exactly what the reserves are and know they never deplete, unlike our crops in this weather, but when you read in news that a junior has been bought or acquired by the larger company it sometimes means that they didn't fullfil the deal, but not always. I guess what I am saying is we all have a choice on how we operate and if we don't like something we don't use it, it doesn't mean it won't work for somebody else.

Excellent comparison. Its just business.

[the big wheel]

Well I guess maybe my info may be wrong but the court cases the interest is not 14% it's somewhere up in the 25
to 30 range.

I don't know exactly how it works but if things are based on 10 dollar canola and the price of canola you could have got is 12 bucks there is lots of interest right there never mind the actual amount they charge based on the 10 buck number.

Also why hasn't that issue ever been dealt with about other companies charging rip off interest? It's bullshit also.

[farmaholic]

I asked the Banker why I can't get a mortgage on land as cheap as someone can get a mortgage on a house in town or the city.....answer: foreclosing on farm property is quite onerous compared to a residential property. But I told them, "with me you'll be assuming less risk".....they said it didn't matter.

You mean it doesn't matter that I could put up enough land equity, at reduced values, that they would be basically taking no risk? ....I guess not! What a ****ed up system.

On Input. ...I wonder if the big push at Farm Progress show to sign up 40 tonnes for fall at $11.00 netted them many "contracts"(Five year contracts at future prices to be determined???????) and if those "contracts" are included in those stellar numbers they're reporting. Are those actually considered streaming contracts....I doubt it but it might get afew more unlucky people through the one-way door!

[bgmb]

I will give some free advice. Anyone who is thinking they need input capital should go see a professional 3rd party to help them with financing and debt structuring. If that doesn't work try another professional and if that doesn't work maybe try another career

[LEP]

Bgmb. LIKE.