AGCREDIT CONSULTING, LLC — Department of Agriculture SBIR Phase I: 8.6

Description

Agcredit Consulting LLC is developing a SaaS digital agriculture lending application to attract andretain next generation producers bankers and educators in frontier and remote (FAR) regions.Itsfirst customer would be agCredit.bank one of the first federally regulated FinTech companies.In Nebraska alone small-rural-located community bank charters have consolidated from 425 thirtyyears ago to less than 170 today.The FSA has significantly reduced its farm lenders in this sametime span.Wyoming for example has only 6 lenders that cover the entire state limiting theirlending capabilities. Many FAR areas lack sufficient access to lenders (and credit) to build andsustain the next generation of farmers and ranchers.Initially the lending portal will target small and mid-sized farmers and ranchers located in FARareas to (1) improve accessibility to lenders and credit and (2) develop farm/ranch managementskills. Objectives:1. Create an MVP producer/lender digital portal with software developers to open user accountsshare information and engage communication.2. Envision and plan for the next round of features for follow-on to Phase II. Align the datamanagement plan to envisioned features.3. Assess the impacts of the proposed project on the socio-economic development of rural areas.It is anticipated the MVP will be a feasible and effective means to reduce lending costs for banksand increase access to credit by producers. It will be licensed to community banks as a means ofcommercialization.