Growers Edge Launches Digital Ag Lending Platform
JOHNSTON, Iowa, Oct. 7, 2021 /PRNewswire/ -- Growers Edge, a provider of data-driven financial technology (fintech) solutions for the agricultural industry, today announced the launch of a fully digital financial software and services platform for the agriculture industry.
The customizable platform is built for ag retailers and input manufacturers of any size to process and manage loans quickly and efficiently. Powered by Growers Edge technology and software, the retailer's branded online platform features apps for loan submission, management, and payment to simplify the process for both retailers and their grower customers. The platform also features a suite of tools and services to analyze and manage the retailer's lending portfolio.
"Growers Edge is introducing a digitally-driven, end-to-end solution in agricultural lending," said Dan Cosgrove, Chief Executive Officer, Growers Edge. "The combination of an experienced lending team with a powerful data science and IT team allows us to use data science and analysis to make loan decisions faster and more secure than traditional agricultural lending."
The Growers Edge platform uses data and analytics to help partners make informed lending decisions and provide an objective, data-driven review of their lending portfolio. The company has developed a streamlined underwriting scorecard that analyzes a grower's credit using traditional lending analysis factors combined with credit and risk factors relevant for specialized short-term financing.
The Growers Edge software and services platform features three products:
Pilot projects are currently underway across midwestern states. The company's first pilot is in partnership with Puris, the largest pea producer in North America. The financial solutions help Puris farmers purchase the seed and inputs used to grow crops. In turn, Puris purchases and turns the crops into pea protein, pea starch, and pea fiber.
"Transitioning to diverse cropping systems and regenerative agriculture practices can be a huge financial risk for our grower partners," said Nicole Atchison, CEO of Puris Holdings. "Our pilot project with Growers Edge has given farmers more flexibility to pursue these practices with confidence and security and allows Puris to better support them along the way."
Growers Edge is currently building a broad network of partnerships with agricultural retailers for the 2022 growing season.
PURIS™ cultivates a spectrum of pure, plant-based foods and ingredients from U.S.-based organic and non-GMO sources. Our end-to-end sustainable food system ensures a wholesome journey from seed to solution. Built with intention, our plant-based food system benefits every link in the chain of production: flavorful and nutritious choices for people, profitable opportunities for growers, flexible ingredients for food makers, and practices that nourish soil, the environment, and life on earth. To learn more about PURIS™ Pea, the company's flagship protein, visit www.puris.com.
About Growers Edge: Empowering Growers to Adapt and Thrive
Growers Edge delivers data-driven financial technology products, solutions, and tools for the agricultural sector. Through partnerships with retailers and manufacturers, Growers Edge designs innovative warranty-backed plans and financing options that help farmers confidently adopt new technologies and practices that benefit their operations. The Johnston, Iowa-based company is led by a proven team of agricultural and lending leaders, driven by more than 40 employees, and backed by top ag technology investors. To learn more, visit www.growersedge.com.
SOURCE Growers Edge
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