(Newswire.net — January 24, 2023) — At the time of its launch in 2017, Tillable’s goal was to protect U.S. farmland while helping landowners and farmers thrive in an increasingly challenging economic environment. To that end, it began by addressing inefficiencies in and the lack of transparency surrounding farmland transactions in America.
“Digital tools are nothing without real humans to interpret findings,” states its website. “At Tillable, we have a team full of farm managers, brokers, and credit experts to partner with you every step of your journey, whether that’s farm management today or a loan tomorrow.”
In the five years since launching, the platform’s mission has evolved. Now, Tillable wants to make owning and renting this country’s farmland simple and sustainable — both in the present and for generations to come. To that end, its services have changed as well. Where it was once a platform focused on the process of renting farmland, it’s become a community that allows both landowners and farmers to buy, sell, rent, finance, manage, and research all things related to farmland, including data that’s critical for making informed decisions at every step of the rental or purchasing process. Need a refresher on how to use Tillable to make informed farming decisions? Read on!
Helping Farmers Get a Fair Deal
One of the main functions of Tillable is to help farmers get fair rental deals on available plots. To assist with this process, prospective renters can set alerts to receive notifications when new land becomes available to rent. They can also search for existing plots of rental land and, when a promising plot becomes available, use the platform to make direct rental offers to the land owners.
“Our goal is to take care of the farmland,” says Tillable Founder and CEO, Corbett Kull.“We’re starting with the land and then helping the landowner by facilitating how they can work with farmers better.”
When trying to determine fair market rent rates for farms, it can be tough to know what’s reasonable and what’s out of the question. To help both owners and renters make more informed decisions, Tillable gives users access to highly detailed parcel information for almost every land plot in the United States. Tillable users can view the parcel size, as well as the soil types found in that parcel and a soil quality rating. Farmers have even more information at their fingertips. They can discover the growing potential for a prospective rental plot and can compare that plot to other surrounding parcels, helping quantify the quality — and financial worth — of any given farm.
Farmland for Sale
Tillable also offers important support services to those who seek to purchase farmland or sell their existing parcels. Both parties can benefit from the platform’s map of recently sold farmland, aggregating sales figures from the past three years in one easy-to-navigate location. It’s that valuation that is especially useful thanks to the recent addition of search filters that pinpoint sold properties within a radius of 0 to 100 miles around a specified central pinpoint on the map.
For buyers, this feature can help determine the appropriate offer to make on an available property. Landowners wishing to sell can benefit from researching recent sale data, as the information can help determine whether the sale’s cash influx would provide a greater financial boon than the steady income of owning an operational farm.
For users who want an even more detailed analysis of prospective sales or purchases, Tillable can provide a personalized market analysis including proprietary information on local land values and recent local sales. Tillable even maintains an experienced brokerage team to help buyers and sellers navigate the purchase process with greater ease.
Farm Management Support
Some Tillable users want to hold onto their existing farmland but can no longer handle the burden of managing their properties. To meet their needs, the platform offers access to specialists who can take on some or all of the management process.
On the lower end of the involvement scale, Tillable specialists can provide owners with farm mapping support, help interpret available data and insights to discover and stay on top of the true land value, and help owners make informed decisions regarding their properties. The team can also assist owners with keeping track of key farm activities and records or even aid in finding farmers to work the land when needed.
Financing and Farm Loan Assistance
The final piece of the Tillable puzzle comes from the platform’s ability to help renters and buyers secure the financing necessary to complete desired transactions. Having partnered with Evergreen Bank to bring agricultural capital to all 50 states, Tillable now accepts applications for up to $2.5 million for real estate loans and $1 million for operating and cash-rent loans. Even better, Tillable doesn’t charge any origination fees for these loans. Plus, Tillable users can easily apply for a farm mortgage, cash-rent loan, farm operating loan, or refinancing for existing loans within minutes and from the comfort of their home, thanks to an all-digital application format.
Using these digital tools makes the financial elements of farming as convenient as possible. That’s why submitting an application is quick and easy, and so is the transparent approval process — applicants learn if they’re approved or rejected immediately after submission. At that time, loan rate information is also provided.
After the initial approval, farm loan specialists will confirm the applicant’s information, work through the necessary details for closing — including appraisal and title work — and finalize the loan in the quickest possible time frame. The support, transparency, and speed at which the Tillable team works leaves farmers and landowners with more time to do what they love and more pocket money with which to do so. But Tillable’s digital tools haven’t replaced the human element of the financial support process. At any point in the loan-securing process, applicants will have access to top-notch customer service, thanks to Tillable’s readily available team of specialists.
Mission-Driven Practicality
Combining practical tools with critical information, Tillable aims to support landowners and farmers in making better decisions. By supporting the community of stakeholders, the platform also helps farms thrive and improve productivity. In the end, everyone wins in this supportive world of transparency. In this way, Tillable meets its ultimate mission of securing America’s farmland for future generations.