Figuring out farm financial management
The farming sector has long been under-served by good financial management and planning systems, say Figured chief executive Dave Dodds. He says his company is on a mission to change that.
Initially, Figured will provide lending services to the dairy sector, supporting contract and sharemilkers, and intends to add further loan options over time to increase the choice farmers have when it comes to accessing capital.
Figured chief executive Dave Dodds says the software company’s move towards providing services to farmers is a logical step as it increasingly becomes a financial hub for farmers and farm advisors.
“Farmers face an increasing range of commercial and environmental challenges and opportunities. This means their advisers and lenders need to be smarter about how capital is accessed and provided,” Dodds says.
“There is an opportunity for farmers, with their advisers, to use their individual data to apply for loans more efficiently and seamlessly. In turn, armed with financial and farm data, lenders will be in a position to make more timely and accurate lending decisions.”
Meanwhile, Heartland Bank chief executive Leanne Lazarus says the bank is “delighted” to partner with Figured.
“We have supported New Zealand farmers for more than 145 years and currently lend to more than 2,000 farmers,” Lazarus says.
“This partnership provides an opportunity for farmers to access capital using existing data and software to support the lending process.”
Farmers and farm advisors can apply for lending through the Figured software or they can visit https://lending.figured.com for more information.
