HARDENING ATTITUDE OF BANKS TO EXCESSIVE DEBT BURDENS WILL BE RESISTED

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HARDENING ATTITUDE OF BANKS TO EXCESSIVE DEBT BURDENS WILL BE RESISTED
15 Apr 2011

HARDENING ATTITUDE OF BANKS TO EXCESSIVE DEBT BURDENS WILL BE RESISTED

Farm Business & Credit

IFA President John Bryan hit out strongly at the hardening attitude being adopted by some banks with farm families who are finding it difficult to deal with the debt burden in their businesses.

He said that banks who loaned money to some farmers all too freely in the good times, cannot now come the heavy and attempt to sell out genuine farmers who have been seriously impacted by the economic meltdown and banking crisis.

He said in the eighties, when serious financial difficulties arose on farms, the banks sat down with the IFA and on a case-by-case situation worked through the problem and found solutions that kept the farmer in business. The same approached is now required, Mr Bryan concluded.

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