A partial good check is better than a full bad check

So how bad is this. Are we talking closing doors or a "financial restructuring"?

Depends on who you talk to.

Mink99 says he heard from NAFA Closing doors.

I heard from NAFA Financial restructuring.

Guess we will have to wait and see.

How is NAFA supposed to determine who is a buyer buying for use and who is buying as a speculator?

Sorry if I missed it, but I'm curious...who actually owns NAFA? I hate to see a company that's been in business since 1670 in trouble.

I wonder if banks are avoiding them because of the risk or because of pressure from anti's.

Hopefully NAFA wasn't lending money to mink ranches. That would be super risky I imagine.

I doubt the antis have anything to do with this. Poor management is most likely the culprit.

Either way

If they file you don't get paid unless they want you to get paid.

It would not surprise me a bit if antis are involved. We didn't forget about Bank of America pulling all financing from gun manufacturers did we? With everything going on in California and their fur ban, what better way for the antis to continue to cripple the industry than by turning the trappers on the people that move the product? That has been my gut feeling from the get go on this, but I could be way wrong. As it stands now I've got a $9 check that I'm afraid to cash because I don't want a $12 penalty for a bounced check and a few red fox still sitting at nafa. So I don't have much on the line here like others do, but this smells like enemies of our business trying to take it down to me.

If they cant get a line of credit its because banks don't like the way they are doing business. Banks are in business to loan money. Usury is their business plan. If they don't make loans they don't profit. Like every other business they exist only to profit. Banks WANT to loan money. I don't understand why an auction company would be in the loan business. If that isn't a risky endeavor what is? Loan money that was borrowed from another business?

It is pretty simple to me. We are all human and make mistakes. I hope NAFA gets lined back out. I hope they have some better ideas now.
I am losing optimism though. What happened to "you will get your money in OCT".?

How do you charge buyer commissions, seller commissions, drumming fees, magazine fees, and c.i.t.e.s. fees but still can't pay your bills. All this talk about its other peoples fault is nonsense. NAFA is responsible for poor business decisions. Not a bank, not a mink farm or anyone else.

It is entirely possible that the bank pulled the rug because NAFA is in the fur business. Something many folks consider immoral and there is a combined effort among many banks to quit doing business with firearm and or fur related business. Plenty will though. If the rug were pulled because of moral belief there would still be banks more than happy to extend a line of credit so long as they thought profit would be the result.

WissMiss, does FHA follow a similar business model?

In hindsight.....

If the Antis were behind this, they would be screaming victory at the top of their lungs....as terrorists do when claiming responsibility for bombings.

Cut the face off the item and never let it run through the auction again. If it does, fines of 10000 dollars per item. That would help stop it.

Ok What shippers you talking about ? You talking about the sellers/ trappers that sent the fur? UPS, post office ? actual shipping company?

Mink ranchers. Why do you think they were taking mink rancher money( NAFA's )and loaning it to mink ranchers that had little chance of paying it back? I can explain that NAFA is primarily a mink farmers cooperative controlled and run by mink ranchers a million times on here and it never seems to register. I feel Wissmiss's pain.

Thank you will wissmiss your explanation makes sense.

I know a guy who bought coon using his nafa advances to continue funding more coon buying. Worked good until coon market shifted downward.

Always a house of cards the fur business is.

I just hope that FHA remains strong.

Too many eggs in one basket with NAFA, in a way. The emphasis needs to be just on wild fur, for our best interests.

NAFA was a fine place to ship wild fur when ranch mink was shining. When ranch mink stop shining you should worry about shipping them wild fur since they now are in full survival mode for the owners. What they may do for their best interest, may not be in the wild fur producers best interest.

FHA is a bit different.
Their BOD consists of 4 native trappers representing their treaty trappers organizations,4 non native trappers from Ontario,1 trapper from the USA and one Rancher.

In case you haven’t noticed, FHA has been offering more and more ranch fur every year, especially mink.