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Agribusiness loans

Discussion in 'Finance & Banking' started by ActiveTrade, 23rd Oct, 2008.

  1. ActiveTrade

    ActiveTrade Well-Known Member

    Joined:
    5th Apr, 2008
    Posts:
    78
    Location:
    Sydney
    Hi all, I invested into some agri products during the 'good' times.

    Benefits were great. Massive tax deductions & all my tax paid refunded. I re-invested the tax refund in a managed fund which is now down more than 50%. :eek:

    The downside is I ended up with a lot of debt.

    Loan terms is 10 years with first 3 been interest only. First of the principal will kick in July 1, 2009.

    Now that I have materialised some unit losses and all our IP's are pretty much maxed out I am finding myself losing much sleep.

    I have tried contacting a few banks to see if the are able to re-finance agribusiness loans however can't seem to find anyone in this business.

    My only hope now is that the property market in the Eastern Suburbs in Sydney comes back by July. At the moment there are fire sales everywhere.

    Any suggestions or creative ideas on how to re-finance are welcome.
     
  2. Simon Hampel

    Simon Hampel Co-founder Staff Member

    Joined:
    9th Jun, 2005
    Posts:
    4,623
    Location:
    Sydney, Australia
    Have you asked whether the agri business will consider extending the IO period for a few more years ?

    Is this something you arranged yourself or via an advisor (ie can they ask for you) ?
     
  3. ActiveTrade

    ActiveTrade Well-Known Member

    Joined:
    5th Apr, 2008
    Posts:
    78
    Location:
    Sydney
    Arranged via adviser ... will have them ask.

    Ta.