Website launches: Farm Credit Services of America provides producers with a more convenient ag land financing platform
New technologies in agriculture seem to appear each day with the intent of aiding those who produce the nation’s agricultural products. Farm Credit Services of America (FCSAmerica) recently announced the launch of their new mobile-friendly website, which allows ranchers and farmers in Wyoming, Nebraska, South Dakota and Iowa to apply for land loans on their own time.
FarmLend.com provides flexibility for producers to choose between applying online or working face-to-face with a financial officer for purchasing or refinancing agricultural land.
Working on ranch time
“We found there is a segment of folks who want to apply for financing on their own time,” said FCSAmerica Senior Vice President of Emerging Markets Duane Maciejewski. “We have been in the business for over 100 years for ranchers and farmers. FarmLend is another way for FCSAmerica to serve agriculture.”
“As a leader in financing agriculture, we recognize producers increasingly have unique financial needs and preferences for doing business,” added President and CEO of FCSAmerica Mark Jensen. “They spend long hours in the field and can’t always fit their financial work into 8a.m. to 5p.m. office hours.”
Producers may complete the application on their own time on a cell phone, laptop or desktop whenever and wherever they may be. Maciejewski said the application takes around nine minutes to complete.
Keeping the human element, traditional retail teams follow up within three business hours after the application has been submitted online. Local support can be found in offices around Wyoming, Nebraska, South Dakota and Iowa.
“This is FCSAmerica’s first step into digital loan origination,” said Maciejewski. “We are consistently listening to our customers to make improvements and enhance the service to make it worthwhile for folks to use.”
Wide customer range
Although FarmLend was designed for producers who are in the field during normal business hours, the digital face serves a wide range of people.
Maciejewski explained ranchers and farmers who work in town, as well as absentee landowners, also find it convenient to work on their own time.
The website has seen about 4,000 visitors each week and is especially busy on weekends, according to Maciejewski.
Additional resources
FarmLend.com also features useful tools such as a loan payment calculator and an affordability calculator to help producers navigate their land-purchasing decisions and plan for different scenarios.
Additionally, the FarmLend Learning Center contains resources, including a step-by-step guide outlining what to expect at each stage of a land purchase, tips on how to get the best interest rate on loans and a cash flow case study.
“Agricultural real estate is not something most people buy often,” said Maciejewski. “The learning center is an additional resource for people to use to run different scenarios and learn about how their financing decisions will affect their bottom line.”
Averi Hales is the editor for the Wyoming Livestock Roundup. Send comments on this article to roundup@wylr.net.
