Key Takeaways
- An ag lender in Alabama has chosen Growers Edge to strengthen its agricultural loan prospecting through advanced mortgage data search and intelligence.
- Agcor’s mortgage data search capabilities give lenders greater visibility into lending activity so they can spot new opportunities earlier and engage borrowers at the right time.
- The expansion marks the first time ag lenders in the Southeast have access to Agcor’s all-in-one platform to both manage existing loans and conduct targeted prospecting.
Earlier this year, ag lenders got access to custom-built loan prospecting tools within the Agcor platform. These tools make it easier to scale outreach efforts and ultimately fuel growth.
For other ag lenders in the region, this marks a new era of opportunity: with access to prospecting tools like Agcor’s, ag lenders can now grow a book of business with risk-aligned opportunities in a more methodical way than was previously possible.
Identify Opportunities Earlier, Engage Borrowers at the Right Time
As ag lenders around the country know, the business of lending is largely one of timing: reach out with the right offer to the right grower at the right time, and you’ve got a much better chance of successfully meeting their needs.
For many lenders, though, timing is too often a matter of luck. That’s because, historically, there’s been no easy way to connect data on mortgage loans to the systems of record lenders use for day-to-day loan management and customer communication.
Agcor’s mortgage data search and intelligence offering changes that. It provides lenders with mortgage loan data that’s searchable by date, geography, and loan amount. Teams can run a search, compare findings against their current risk appetite, and identify opportunities that they might have otherwise missed.
They can then systematically prioritize outreach to borrowers who are both a risk-profile fit and approaching renewal of their current loan.
Better Lender Opportunity, Better Customer Experience
The opportunity for lenders is the ability to meaningfully scale outreach to prospective customers – no small thing in a profession that’s struggling to attract new entrants. Increasingly, ag lenders are recognizing that one key to future growth is strategic automation of back-end processes.
Agcor’s mortgage data lookup offers one such opportunity: lenders can, for example, schedule a search for specific types of loans to run on a regular cadence, thus automating their prospecting efforts.
But the new offering will also benefit farmers.
First, there’s the obvious, near-term benefit of getting a better rate on a mortgage that’s set to renew. When ag lenders can more easily search and sort by soon-to-renew loans, they can more easily identify borrowers who might be able to save money on an updated loan and reach out directly to those borrowers.
Then, there’s the lifetime benefit that farmers experience when their lenders have access to land and portfolio intelligence. For example: Agcor automates data collection and many repetitive tasks lenders once had to do manually. This means farmers get an experience with their financial partner that’s similar to what they’ve come to expect in other areas of their life.
It also means lenders can invest their time in building meaningful relationships rather than, say, calling to remind a customer to fill out a form or upload a document.
More on automating the back end to focus on relationships: The Ag Lender’s AI Field Guide: From Strategy to Practical Steps
Custom Built for Ag Lending
When agricultural lenders demo Agcor’s mortgage data search and intelligence tools, a common response is “This feels like it was built for us.”
That’s because it was: the Agcor platform is not a generic lending platform with an agriculture interface slapped on it. It’s software that is custom-built for agriculture lenders, with constant feedback from the lenders who use the product.
The introduction of mortgage data for prospecting is the latest update to make lenders’ lives easier by making it easier to serve the growers who depend on them.
But that’s just the latest addition. Longtime Agcor customers also appreciate how the platform bundles parcel-level data on water, soil health, harvest history, and more so they can make decisions faster, reduce errors, and maintain compliant documentation more easily.
Scale Prospecting Sustainably to Fuel Growth
The world of ag finance is shifting: some larger lenders are reconsidering agricultural markets; fintech startups are launching new solutions, and farmers themselves are struggling to stay afloat in a difficult macroeconomic environment.
It’s a moment where success in ag lending requires lenders to be lean, data-driven, and hyper-focused on efforts that drive outcomes. Agcor helps on all three fronts by providing a single home for managing an existing portfolio and strategically prospecting for new accounts.
If you’re interested in seeing how Agcor could help your organization meet its goals for efficiency and growth, set up a demo. We’d love to show you what the future can look like.