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Agrimarketing : September 2008
and marketing, specialized commod- ity knowledge and more. More than simply a source for money — we provide service, value and expertise. Unmatched expertise in agricul- ture financing. Our industry professionals are dedicated to understanding your business, your customers and suppli- ers. So we can offer meaningful ideas and solutions that add value to your business, and recognize opportunities that contribute to your success. We help put “the deal” together. Whether ownership of a venture is one of hundreds or whether you’re working with several lenders on your project, we are experts at work- ing through the details and have the capacity to meet your needs. With over 73,000 customers, a cash patronage program and assets of $14.3 billion, Farm Credit Services of America is one of the region’s leading providers of credit and insurance services to farmers, ranch- ers, agribusiness and rural residents in Iowa, Nebraska, South Dakota and Wyoming. JOHN DEERE CREDIT Johnston, IA by Jayma Sandquist Dir, Sales & Marketing Ag Financial Svcs www.johndeerecredit.com Farm Plan, a product offered by John Deere Credit, provides accounts receivable management and sales finance solutions that improve the business perfor- mance for ag retailers. Our integrated pack- age of services accelerate cash flow, reduce risk and grow sales profitably, with integrated trans- action processing options that fit retailer needs. Setting us apart from other financ- ing alternatives available for ag retail- ers, Farm Plan provides a comprehen- sive and integrated solution that allows the retailer to entirely get out of the accounts receivable business. We can process account setup for the retailer’s customers, buy out existing Sandquist customer account balances, and take over the process of statementing, pay- ment processing, and collections, all while allowing the ag retailer to be funded in two business days. Farm Plan works with retailers to tailor sales finance programs that help acquire new customers, pull sales forward earlier in the season, and grow sales on higher margin products. Farm Plan provides online tools and services that help the retailer promote these offers in the marketplace under their own brand. Farm Plan recently introduced an improved preapproval process for qualified customers extending unsecured credit up to $120,000 without an application. In addition, all existing Farm Plan accounts are being reviewed for credit limit increases without provid- ing any additional information. These changes give retailers and their cus- tomers the added purchasing power that’s needed right now. Farm Plan will continue to extend additional unsecured credit beyond these levels for qualified customers who provide additional financial information. To drive awareness of the Farm Plan product in both the retailer and producer channels, we have an aggressive communications strategy that utilizes print advertising, direct marketing, public relations and other mediums. We also have a compre- hensive Web site, www.FarmPlan.com, which is a user-friendly tool de- signed for both retailers and produc- ers to manage their accounts when and where it’s most convenient for them. With direct sales staff across the U.S. and Canada calling directly on retailer relationships, Farm Plan has grown this business substantially in recent years. With over 7,000 retailer relation- ships and 1,000,000 Farm Plan accountholders, we are the most comprehensive solution provider of accounts receivable management and sales finance. PIONEER HI-BRED Johnston, IA by Travis Schaben Credit Mgr, PHI Financial Services www.pioneer.com Providing our customers innovative and attractive credit programs has long been a successful strategy at Pioneer Hi-Bred. Pioneer initiated its Deferred Payment program several years ago to help our seed customers better manage their cash flow. This program has become very popular among our customers and a key part of our sales strat- egy. The princi- ple benefits of the program are that it: Schaben • Allows customers flexibility to purchase products and retain applicable discounts. • Provides customers cash flow flexi- bility by deferring payment until after harvest. • Enables customers to make early commitment to get products they want. • Offers attractive interest rates options. • Allows early payment without any penalty. Many customers and prospects are eligible for a pre-approved loan and we provide information on that in the fall issue of GrowingPoint magazine. The program is designed to reward Pioneer customers for their business. The more and earlier they purchase, the greater their rewards. The timing of the customer’s first Deferred Payment transaction deter- mines the interest rate for additional Pioneer brand purchases. For added convenience, growers can securely access their personal Deferred Payment accounts and make payment electronically on the Pioneer GrowingPoint Web site. Access to personal account informa- tion is available 24 hours a day, 7 days a week. Pioneer maintains extremely competitive interest rates within the Deferred Payment program, often offered below the prime interest rate. We continually monitor the market- place to evaluate interest rates and other offerings, so we’re able to pro- vide the best possible program to our customers. (more on page 31) September 2008 ¦ AgriMarketing 29
CAMA 2008 Canada