5 Facts On The Amish & Banks
“We take horses as collateral all the time.” That’s Middlefield Bank vice president Al Thompson Jr. explaining how his institution works with Amish customers. Apparently, that practice goes against what lenders are taught (“never take anything for collateral that eats”). But for the Amish, the exception is worth it. “If they offer you the horse, you take the horse,” says Thompson. “That’s their transportation, after all.”…
