Small Farmer Financial Resource Tools
Company Background
Compeer Financial is a member-owned, Farm Credit cooperative serving and supporting agriculture and rural communities. We provide loans, leases, risk management and other financial services throughout 144 counties in Illinois, Minnesota and Wisconsin. Based in the upper Midwest, Compeer Financial exists to champion the hopes and dreams of rural America. With 1,200 dedicated team members serving approximately 70,000 member-owners, we offer specialized expertise and personalized service regardless of the size of the farm, the type of crop grown or the livestock raised. Our services are provided with convenience in mind, through visits to fields, barns and homes, or by maximizing technology to make the most of every hour in every day.
Compeer Financial regularly collaborates with others who are also dedicated to agriculture and rural America. Our in-house specialists participate in conversations that extend beyond our service area, providing formal and informal insight on topics pertinent to all industries, including dairy, swine, grain and renewable energy. With $19.1 billion in loan and lease assets, Compeer Financial is one of the largest cooperatives in the Farm Credit System. This nationwide network of lending institutions supports agriculture and rural communities with reliable, consistent credit and financial services.
Open Innovation Challenge
Compeer is looking to find efficient methods to serve small and micro farms efficiently so that the farmers can concentrate on producing quality products and get the products to market in timely fashion.
Reason for Seeking External Innovation Partnership
Compeer wishes to be a better partner for small farmers, including those who are interested in farming for lifestyle, sustainability, and personal consumption, as well as those who wish to grow. Through research, we have learned that many choose to use consumer debt tools to get their farms started and operational, including credit cards, short term adjustable loans from local banks, or cash.
Smaller farms may require more labor and use less machinery to complete the work in a timely fashion and maintain quality products. As a result, the farmers still have the financial needs to operate their farm but may not have the time to spend on their financial tools. We wish to work with more of these operations to be a resource, trusted advisor, and partner, and help grow with them and their operations while serving them in an efficient manner. Compeer seeks to be a trusted financial services partner advancing agriculture and rural America and is trying to serve.
Scope of Solution Space
- Mobile Applications
- Software
- Online services
- Product Offerings
- Lending Options
- Marketing plan
- Marketing opportunities
Innovation Solutions Not of Interest
Adding personnel
Proposal Response Date Deadline
August 28, 2020
Website Link
www.compeer.com and www.boldopenmn.com
Compeer Financial is a member-owned, Farm Credit cooperative serving and supporting agriculture and rural communities. We provide loans, leases, risk management and other financial services throughout 144 counties in Illinois, Minnesota and Wisconsin. Based in the upper Midwest, Compeer Financial exists to champion the hopes and dreams of rural America. With 1,200 dedicated team members serving approximately 70,000 member-owners, we offer specialized expertise and personalized service regardless of the size of the farm, the type of crop grown or the livestock raised. Our services are provided with convenience in mind, through visits to fields, barns and homes, or by maximizing technology to make the most of every hour in every day.