Supplier interest rates

[dalek]

What are farm suppliers doing with their interest rates elsewhere in the country? I was not entirely surprised this month to see that several of our suppliers that had their rates at 1.5-2% are now at 3%, and some are talking about moving to 4% to make sure they get paid before anybody else.

[cakadu]

Hadn't really taken any notice of that, but I certainly will for the next billing.

Thanks for bringing it up.

[farmboy1]

Still looking at 12-18% on the east coast. Damn! How big do you have to be to get those rates? I must be missing something here. My rates refer to normal input suppliers- eg, fuel, fert, spray, etc.

[farmboy1]

Looked at the thread above this and it makes more sense now. You were talking about per month- not per annum. 3-4%????????? WTF is wrong with this picture? If there were an option, they'd never see me again. That is the lowest of the low. I would also make damn sure they knew why I was upset. I like the idea in the above thread of using a credit card at a lower interest rate. Flexible principal payments and no set lenght of term. Obviously, one would also have to exercise due diligence so that one didn't dig a bottomless pit.