Key Takeaways
- Significant Milestone: FBN (Profile) Finance reaches over $1 billion in operating lines, enhancing access to capital for farmers.
- Affordable Financing: Offers affordable financing options in challenging interest environments, focusing on maximizing ROI and profitability for farmers.
- Innovative Financing Solutions: Features include up to $1 million in revolving credit, 0% financing for inputs, Regenerative Ag discounts, and digital payment options.
- Efficient and Expert Service: Streamlined online application process and expert advice from ag loan advisors support farmers in financial planning and management.
- Ongoing Growth and Partnerships: FBN’s recent expansion includes partnerships and product offerings, contributing to its momentum in the AgTech industry.
Transforming Agricultural Financing with FBN Finance
Farmers Business Network, Inc. (FBN®), a leading global AgTech platform and farmer-to-farmer network, today announced that its lending division, FBN Finance, has successfully provided over $1 billion in operating lines. This achievement marks a significant milestone in FBN’s mission to offer affordable and accessible capital to farmers, especially amidst challenging interest rates.
A Commitment to Farmer Success
Dan English, General Manager of FBN Finance, expressed pride in the trust farmer members place in FBN to meet their financing needs. The organization is dedicated to equipping growers with the necessary tools for critical investments, aiming to enhance their return on investment (ROI) and profitability for the foreseeable future.
Operating Lines from FBN Finance present a unique opportunity for producers to secure up to $1 million in revolving credit via a swift, online application process. These funds cater to general farm expenses such as labor, inputs, equipment, and rent, offering several advantages over traditional farm loans. Notably, these benefits include 0% financing for inputs purchased with FBN Inputs, access to Regenerative Ag discounts, and the convenience of seamless digital payments.
Farmers’ Perspectives on FBN Financing
Wayne Grimm, owner of Double G&L Farms in Kansas and an FBN member, lauded the ease and efficiency of banking with FBN, highlighting the rapid process and quality advice from FBN experts. Similarly, Roger Rasmussen, a Nebraska farmer and FBN member, emphasized the financial sensibility of utilizing FBN’s platform for 0% financing on input spending.
Supporting Regenerative Agriculture
In a pioneering move, FBN Finance introduced the Regenerative Agriculture Operating Line, offering eligible farmers a 0.5% interest payment rebate on approved financing. This program represents one of the first in the U.S. to incentivize the adoption of regenerative agricultural practices through financial means.
Enhancing Farm Finance Management
Recently, FBN Finance enhanced the financing experience with its digital payments platform for operating line customers. This innovation affords farmers greater control, convenience, speed, and visibility in managing their finances and loan payments, accessible 24/7.
Dan English emphasized the value of personalized service provided by FBN’s ag loan advisors. Located across rural communities, these experts craft tailored financial solutions to optimize profitability, reflecting FBN’s commitment to farmer success and trust.
FBN Latest News
Appoints Diego Casanello as New CEO (2024/02/23)
Diego Casanello has been appointed as the Chief Executive Officer of Farmers Business Network, Inc. (FBN®). He will assume his role on March 1, 2024, succeeding interim CEO Devin Lammers. Casanello brings over three decades of leadership in the agriculture sector, including notable positions such as CEO of Arysta Life Science Inc. and COO of UPL Ltd. The Board expressed confidence in Casanello’s ability to lead FBN and advance their long-term strategy and accelerate growth.
Unveils New Crop Protection Products (2024/01/25)
Farmers Business Network has introduced 10 new crop protection products to support wheat growers and expand fungicide offerings. The company has also launched FBN Acre Plans, a digital crop protection planning system, and invested in enhancing growers’ shopping and delivery experience. The flagship Canadian distribution center in Saskatoon and a network of eight Canadian fulfillment centers will provide efficient service to its over 9,700 members across more than 31 million acres.
A New Frontier in Sustainable Beef Production (2023/10/27)
Farmers Business Network, Inc. introduced Profectus™ Feeds, a revolutionary beef cattle nutrition system that enhances sustainability and profitability in beef production. This innovative feeding system prioritizes the amino acid requirements of cattle based on energy density, leading to improved feed efficiency, reduced digestive issues, and better overall cattle health. Studies have demonstrated a significant 5 to 15% improvement in feed-to-gain ratio and profitability with Profectus compared to traditional diets. Developed by FBN’s team of nutritionists and veterinarians, Profectus Feeds not only boosts feed efficiency and carcass value but also addresses environmental concerns such as methane reduction, aligning with future demands in beef production. This system represents a strategic advancement in cattle nutrition, offering a balanced approach to protein requirements and enhancing the environmental sustainability of beef farming, thereby promising a more profitable and sustainable future for cattle producers.
Empowers Farmers with Enhanced Delivery Services (2023/06/23)
Farmers Business Network now offers 3-day delivery or less on most member orders. FBN’s logistics network comprises 30 centers across North America, allowing it to serve farmers promptly and effectively. The company’s advanced technology ensures that farmers receive their orders as quickly as possible. Moreover, FBN has introduced a new feature that allows farmers to access financing at checkout.
Releases 2023 Canadian Planting Intentions Report (2023/04/27)
Farmers Business Network has released its 2023 Canadian Planting Intentions Report, providing insights into how Canadian farmers approach the new season in terms of canola, spring wheat, and durum. The report is based on a survey conducted from late March to April 18, and it offers market implications for the crop year. While there were small shifts in acreage compared to 2022, the report provides growers with critical intelligence and market guidance. Farmers Business Network’s actionable intelligence aims to arm Canadian members with the necessary tools to navigate the current market. The report represents 2.5% of all acres in Canadian provinces, and farmers can download it from the Farmers Business Network website.
Read more here.
Field to Market and FBN Partner to Propel Sustainable Agriculture (2023/04/12)
Field to Market, Farmers Business Network, and The Alliance for Sustainable Agriculture have announced a partnership that will allow farmers to assess their profitability, productivity, and sustainability choices in a single location. FBN has become a Qualified Data Management Partner with Field to Market and has integrated the sustainability measures of the Fieldprint Platform into its program. The collaboration has the potential to empower farmers with actionable insights, promote environmental transparency, and support the success of family farmers everywhere.
Report Highlights Ag Chemical Price Variations (2023/03/24)
The Farmers Business Network’s (FBN) 2023 Ag Chemical Price Transparency Report highlighted that farmers face significant issues due to the lack of transparency in agrochemical pricing. The report analyzed over 3,000 pricing data points across 37 states, showing that crop protection sellers are not providing transparent pricing. FBN Direct, the online agrochemical purchasing system of FBN, aims to address this issue by providing farmers with high-quality products at transparent, competitive prices.
Read the report here.
FBN and Boveta Nutrition Partner to Optimize Beef Cattle Feeding (2023/01/27)
Farmers Business Network has partnered with Boveta Nutrition to provide a proprietary feeding system for beef cattle, which improves feed efficiency and carcass yield and reduces methane gas emissions. Boveta Nutrition’s optimized feed formulation ensures that cattle consume less feed yet maintain or increase gain and milk production. The FBN team, led by Dr. Monty Kerley, a renowned nutritionist, will work closely with Boveta Nutrition to bring the industry-leading system to the market.
Image provided by FBN
4 Comments