Agriculture financing has typically been done by local banks who have built relationships with farms and families; there is a significant opportunity available for alternative lenders to provide financing for farms up to $100,000; “If you as a farmer need operating funds and you can’t get them from a bank, you don’t have a lot of options,” says Peter Martin, a principal at K-Coe Isom, to deBanked. “Historically, nobody outside of banks has had much interest in lending operating money to a farmer.”; there are very few alternative lenders looking at the market and this could be an opportunity for them to learn about the industry to help fill a gap that is sorely needed; most farms are in the same family for generations, showing there is a historical record to underwrite a loan and in many cases government data to verify production. Source.
Todd is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists. He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences. He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.