We were introduced to Pablo by one of our LPs and were immediately enamored by his knowledge and passion for the farming industry. Born into a 4th generation farming family, he brings over 10 years of experience working with growers in the U.S., Mexico, and throughout South America.
Farmers are the cornerstone of America and a huge part of what makes this country great. Unfortunately when harvest season comes, the industry encounters major cashflow challenges.
Here’s the problem:
- Farmers suffer a major liquidity gap. They harvest 2–3 months of the year and harvest costs alone represent 70% of their annual cashflows. Today, they pay their costs daily or weekly, but are unable to collect for 45 days.
- Distributors experience financial bottle necks when they offer cash advances to aid farmers, incurring credit risk and financial burden.
- Financial Institutions rarely finance individual farmers, preferring instead to lend to distributors and leaving them with the financial burden and risk.
ProducePay offers growers next-day financing and quicker returns, and eliminates distributors’ financial bottlenecks by providing a novel financial solution to a traditional industry.