Middle Bit: Growers Edge launches ag lending platform

Growers Edge, a provider of data-driven fintech solutions for the agricultural industry, has 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.

The Growers Edge software and services platform features three products:

  • Software as a Service Plus (SaaS+): Retailers utilize the Growers Edge financial analytics and loan processing platform to streamline finance operations and improve growers’ experiences.
  • Funded Lending Program: Using the company’s SaaS+ platform, retailers partner with Growers Edge to deploy fully customized, funded financing programs.
  • Sustainability Lending Program: Growers Edge tailors programs to provide lending services to growers adopting regenerative agricultural practices.

“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.”

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.

Young Entrepreneur Convention to take place Oct. 30

The Young Entrepreneur Convention (YEC) is set to take place on Saturday, October 30 at the Iowa State University Student Innovation Center in Ames.

Speakers for the convention so far include Eric Engelmann, Nico Aguilar and Eric Reis, with more speakers to be announced soon.

The conference will also have competition that offers participants 90 seconds to pitch their business in front of a panel of expert preliminary judges, with two minutes for follow-up questions.

Tickets to the convention are available now for $99.

Iowa Business Council releases Economic Outlook Survey for Q3 2021

The Iowa Business Council (IBC) has released its third-quarter Economic Outlook Survey for 2021. The report measures member expectations for sales, capital spending, and employment for the next six months.

If the index measures above 50, sentiment is positive. The third-quarter survey’s overall economic outlook index is 65.41. This marks the fifth positive quarter in a row, projecting continued confidence in the state’s pandemic recovery efforts.

“While outlooks remain strong for the next six months, expectations have leveled off slightly in most categories. Sales expectations fell 1.25 points to an index score of 70. The employment index fell 2.5 points to 66.25. While the majority of respondents (55%) expect their workforce to grow, 40% do not anticipate a change in employment. Capital spending decreased 1.25 points to an index score of 66.25,” read the report.