I Borrowed $178,000 to Spread Fertilizer
The Ramsey Show Highlights
Ramsey Network
4.5 • 840 Ratings
🗓️ 13 April 2026
⏱️ 10 minutes
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| 0:00.0 | Brought to you by the Every Dollar app. |
| 0:04.5 | Start budgeting for free today. |
| 0:06.7 | I'm 22 years old. |
| 0:08.2 | I started a business last year and it's kind of just went backwards on me where I'm |
| 0:12.4 | to the point now where I've got a piece of equipment that I'm sitting here staring down |
| 0:15.6 | the barrel of the gun where they're basically probably going to have to kind of repossess |
| 0:19.4 | it the first of April. |
| 0:23.7 | So you started what kind of business, hun? |
| 0:27.7 | Custom dry fertilizer spreading business. |
| 0:29.5 | Okay. |
| 0:33.2 | And so you bought a, what is the equipment? |
| 0:38.7 | It's a applicator that applies dry fertilizer on fields. |
| 0:41.8 | And how much do you owe on it? |
| 0:45.1 | 178,000. |
| 0:52.5 | My annual payment on it is $40,000 a year, and everything just went backwards. I'm confused. |
| 0:53.7 | I'm confused why they would loan a 22-year-old $178,000 on a piece of farm equipment. |
| 1:00.6 | Well, because I had a way to get into the business, and then since then it's just went backwards since then. |
| 1:08.3 | I had the money for a down payment, put the money down. |
| 1:11.3 | How much did you put down? |
| 1:13.6 | 12,000. |
| 1:15.6 | But still, I mean, you were not even, were you in the business already? |
| 1:20.1 | I've been in the agriculture business all my life. |
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