When you turn the key to fire up your tractor or combine, you want a start that’s swift, smooth, and strong—which is exactly what “Agnition,” Farm Credit Services’ new dealer credit program for new and used machinery, experienced in 2008.

 

“It’s been very well received in the marketplace, by both dealers and their customers,” said Craig Pontius, FCS Dealer Relationship Manager for southern Ohio, southeast Indiana, and northeast Kentucky. “The program has exceeded our expectations, and as a result we’ve written a lot of equipment loans.”

 

One dealer who is happy to be on board with Agnition is Doug Anderson, of Anderson Equipment in Washington Court House, Ohio. In what he describes as a “short-line” (non-power) dealership, Doug sells grain carts plus tillage and planting equipment, including the Kinze and Great Plains lines.

 

“It gives us the versatility to use either dealer or independent financing,” he said. “Our customers are surprised to find out we can be a ‘one-stop-shop.’. And I like the program because it’s fast, simple, and effective, which helps us close more sales.”

 

Doug is also part of a family farming operation run by brother Tony, and has long appreciated the value of FCS’s services to both their farming and business interests. But he’s been especially impressed with many of the new Agnition features.

 

“Their turnaround time on credit decisions is unbelievable,” remarked Doug. “I usually hear back from them within half an hour. I really applaud FCS for being as thorough as they need to be, yet keeping it simple. And if I have any questions, I just make a phone call to Craig, and get it answered right away.”

 

As a result of the program’s rapid acceptance, the results from its first full year in 2008 were impressive with more than $50 million loaned and 260 dealers signed into the network.

 

Once a loan is identified through the dealership, it then goes to a local FCS office for processing and handling. As a result, customers choosing to finance through the dealership receive the same courteous and professional local service as customers who deal directly with the FCS lending staff.

 

Craig, for one, is not surprised by Agnition’s ready acceptance. “Before they started the program, FCS did their homework by listening to dealers and hearing what they wanted,” said Craig. “Then they structured the program really well and rolled it out in a professional manner. This program puts us at the table where most equipment financing decisions are made—at the dealership.”

 

Doug Anderson agrees. “It’s definitely meeting a need,” he said.