THE Thread

[Nikuk 5,000+ posts]

^^^ Top of pg. 731

//content.invisioncic.com/y282845/emoticons/biggrin.gif.d71a5d36fcbab170f2364c9f2e3946cb.gif

 

[squeak9798 5,000+ posts]

Funny note of the day for Squeak -
One of the companies we took over ~3yrs ago used to use cattle as collateral... have you guys ever done that?

Just curious.

Very rarily do we specifically use cattle (or other livestock) as collateral. Generally we take equipment and/or inventory/accounts receivable. However, if we are doing an agri or commercial loan for a farmer that's related to his crops/livestock, we do have a generic description that we attach to the UCC Financing Statement (that gets filed with the state) that encompasses ALL inventory as well as any and all livestock. So, it's hardly ever straight out our intention, but when doing certain loans they will be "generically" wrapped up into the collateral also.

 

[tRiGgEr 5,000+ posts]

Very rarily do we specifically use cattle (or other livestock) as collateral. Generally we take equipment and/or inventory/accounts receivable. However, if we are doing an agri or commercial loan for a farmer that's related to his crops/livestock, we do have a generic description that we attach to the UCC Financing Statement (that gets filed with the state) that encompasses ALL inventory as well as any and all livestock. So, it's hardly ever straight out our intention, but when doing certain loans they will be "generically" wrapped up into the collateral also.

Speak english. uh hummity hummity what?

Your smart squeak. U mak me feal moy stupider and stuff //content.invisioncic.com/y282845/emoticons/confused.gif.e820e0216602db4765798ac39d28caa9.gif

 

[Nikuk 5,000+ posts]

Very rarily do we specifically use cattle (or other livestock) as collateral. Generally we take equipment and/or inventory/accounts receivable. However, if we are doing an agri or commercial loan for a farmer that's related to his crops/livestock, we do have a generic description that we attach to the UCC Financing Statement (that gets filed with the state) that encompasses ALL inventory as well as any and all livestock. So, it's hardly ever straight out our intention, but when doing certain loans they will be "generically" wrapped up into the collateral also.

Mkay, that's what I was wondering.

During an initial audit of that glorified credit union... we'd found that there was little to no value on the actual acreage for which we had liens. Found a few ways to transfer to other valuable and futures... was a mess at first.

When I fisrt started here (~4years ago) I'd never thought that livestock & crop yields / futures could be used for loans....

..and then I took on a portion of the commercial portfolio //content.invisioncic.com/y282845/emoticons/wowflash.gif.89a61f4caede63a11dac36e97d61323e.gif

 

[squeak9798 5,000+ posts]

Who do you work for and what do you do?

 

[squeak9798 5,000+ posts]

Your smart squeak.

Eh....not really. But thank you //content.invisioncic.com/y282845/emoticons/smile.gif.1ebc41e1811405b213edfc4622c41e27.gif

 

[Nikuk 5,000+ posts]

Who do you work for and what do you do?

I work for a northeastern regional. Currently General Sales retention (~1 yr.), Consumer Lending Operations (prior 3).

I'll show you mine if you show me yours... //content.invisioncic.com/y282845/emoticons/tongue.gif.6130eb82179565f6db8d26d6001dcd24.gif

 

[squeak9798 5,000+ posts]

I'll show you mine if you show me yours... //content.invisioncic.com/y282845/emoticons/tongue.gif.6130eb82179565f6db8d26d6001dcd24.gif

//content.invisioncic.com/y282845/emoticons/wow.gif.23d729408e9177caa2a0ed6a2ba6588e.gif I don't know if I'm into that

 

[Nikuk 5,000+ posts]

//content.invisioncic.com/y282845/emoticons/wow.gif.23d729408e9177caa2a0ed6a2ba6588e.gif I don't know if I'm into that

So you're still a little confused...

...or afraid?

 

[Nikuk 5,000+ posts]

mmkay... time to spam it up..

 

[Nikuk 5,000+ posts]

gotta get my 100 in for the day...

 

[Nikuk 5,000+ posts]

I'd better eat some spinach....

 

[Nikuk 5,000+ posts]

Don't worry, I'll try to make relevant posts shortly...

 

[Nikuk 5,000+ posts]

Squeak - I think that Your avatar is taking a PooP.... //content.invisioncic.com/y282845/emoticons/wow.gif.23d729408e9177caa2a0ed6a2ba6588e.gif

 

[Nikuk 5,000+ posts]

Who thinks that it's a bad idea to buy old woofer motors for really cheap?