mdog76
Platinum Poster
Joined: Jan 2007
Posts: 645
I'm just making sure, but if we take contents as collateral that require flood insurance (production machinery), the amount needed would be the value of machinery less the depreciation correct?
mdog76
Platinum Poster
Joined: Jan 2007
Posts: 645
Yes, the building is taken as well. We have a loan and flood insurance on the building already. This new loan is to purchase the production machinery so very little depreciation should be deducted I assume.