Tillable & Evergreen Bank to expand its digital lending platform to US farmers

  • Marketplace for agricultural real estate Cultivable will expand its digital lending platform to more U.S. states, allowing farmers and growers in the Midwest region to apply for a loan digitally.
  • For the expansion, Tillable partnered with evergreen bankan Illinois-based chartered company commercial bank with a national lending program.
  • Farmers, landowners and investors in Illinois, Minnesota, Wisconsin, Michigan, Nebraska, Missouri and Arkansas can now apply and be approved in a fraction of the time of a loan process traditional.

Why is this important:

Farmland is in high demand by producers and traditional landowners as well as investors who find value in farmland as an asset class.

Like many aspects of agriculture, however, land financing still relies heavily on paper-based processes, adding time and undue complexity to loan applications.

Tillable says its all-digital process makes it faster and easier to find, finance and manage farmland. The company currently offers farmers, landowners and investors the ability to shop for farmland mortgages, refinance outstanding loans, underwrite operating lines or finance cash rent.

“Anyone can apply online or by mobile phone 24/7, complete an application in minutes, and choose from competitive rates,” Tillable Founder and CEO Corbett Kull said in a statement. a statement. He added that the expansion helps the company become a “one-stop-shop” for growers and landowners looking to digitize their real estate processes.

Tillable says its platform covers “well over” two million acres of farmland and uses public data to predict market trends and land values. The company claims to have 28,000 users.

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