Modernize the Ag Lending Process to Stay Competitive

Modernize the Ag Lending Process to Stay Competitive

Farmers need access to financing faster than they did previously, but traditional methods cannot keep pace. Banks that leverage modern technology can accelerate lending decisions.

Jim O'Brien

by Jim O'Brien

August 08, 2022

1 min read

Agricultural lending differs in several key aspects, from duration to data to due diligence.

As farms get larger and run more like corporations, there is the need for more efficient loan processes, volume discounts and digital services that are not just “nice to haves,” but requirements.

Additionally, the agriculture industry is becoming more technologically advanced. To remain competitive among today’s modern farmers, agrifinance institutions must embrace digital banking practices by sharpening the digital prequalification or preapproval processes.

BankBeat recently spoke with Jim O’Brien, Co-founder and CEO of Agrograph, about why banks need to step up their technology.

Read the full article here!