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Home My WebLink AboutThe Goderich Signal-Star, 1983-02-09, Page 20meets By Wiley McPhee Farmers want to know about the' business of going bankrupt . Bert Saunders explained/ as the basis for Huron County's Farm Survival Association (HF- SA), Originating in the Blyth area, and available to all farmers and small business owners in the county, the HFSA held its second ,� meeting in Blyth on January 11. Moore than 50 area farmers attendedthe meeting to learn about assistance available to those in financial difficulties, and information for those who want to keep their operation running successfully. Mr. Saunders of RR 1, Blyth is one of the executive members who brought the group together and he ex- plained that the HFSA is first trying to determine whether there. is a need for such a local organization. He said, "Farmers must determine their cash flows.. We need some people to break the ice and show they need our assistance." The aim of the HFSA is to help farmers and small business people before they are force& to declare bankruptcy. The Association, he stressed, has not been organized as a vigilante group, to keep the receivers and sheriffs away. However recently in Wroexter a group of 25 local farmers went to resolve a financial dispute between the bank and a farmer in financial difficulty. A similar case . occured in Rodney, where the FSA in that area guarded a local hardware store for three days and nights from the receivers, in order to allow the small businessman an opportunity to re -negotiate his loan and keep his store in business. Incidents like these, called Farm Gate Defences, are what the local FSA want to avoid. As Mr. Saunders pointed out, "Publicity like that doesn't do us any good. Sometimeswe have to go in and ask questions later, but we want to stay away from Farm Gate Defences. They're trouble, and should only be used as a last resort." Bob Henry of Blyth, another executive member said that problems should be solved privately, without publicity. "Everyone is here to help each other," he said. "If we get to the root of these problems in time, we don't need Farm Gate Defences." Future meetings At a meeting, to be scheduled in the near future, the HFSA hopes to have a lawyer as a guest speaker. Questions that will likely be raised'include what a farmer can do when the bank calls a demand note, how can the farmer avoid bankruptcy, and what proposals can be worked out with the local bank. It was also suggested that accountants, financial consultants, perhaps even a bank manager, be asked to speak. In other FSA groups, - in Middlesex and Grey- Bruce Counties, such in- formation meetings have been held. It was expressed at the local meeting that a main area where farmers are having difficulties is with the fluctuating interest rates at the bank. Mr. Saunders explained that farmers find it hard to establish an ac- curate cash flow rate when interest rates on their farm operating loans are floating,. not on a fixed line of credit. As well, Mr. Saunders added, that farmers come up against difficulties in determining a yearly financial record when the cash flow varies from season to season. "Farmers should be able to go in (to the bank) and take that bank loan on a fixed rate," he stressed. Young farmers, he said, are facing the most financial hardships these days. Several years ago in order to increase their cash flow, most farmers decided to run more acreage and larger livestock operations. That meant they needed bigger and better equipment. Sharing farm machinery with the neighbors no longer seemed feasible as Mr. Saunders pointed out, "When there are heavy rain clouds coming in over your white bean crop, you don't want to wait your turn." 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