Hectare’s Advance Pay, helping farmers get paid for their grain now, with no admin
Hectare, a leading provider of agricultural technology supply chain solutions has announced the launch of Advance Pay, a new embedded finance product that will give arable farmers access to instant cash flow from their grain contracts at a fair market interest rate.
This new product is set to revolutionise agricultural finance by solving the challenges of financing last mile grain supply chains and being the first to market to offer an independent solution without the heavy costs or administration headaches of traditional finance, lock-in contracts for grain pools, or input financing.
With Advance Pay on grain trades, farmers gain peace of mind that payment worries are a thing of the past. They receive instant payment for up to 80% of the contract's value, easing any concerns over trading with new buyers and ensuring timely payments.
With fair market rates, access to constant cash flow will give arable farmers peace of mind, the cash is there on time, every time freeing them up to make trading decisions based on market conditions, not cash flow needs. Hectare sees their embedded finance offering as the sweet spot where digital workflows and digital finance go hand in hand. Now, farmers can seamlessly receive an advance payment on a grain contract while closing a deal with a buyer—all in one simple transaction using Hectare's digital trading tools.
This announcement comes at a crucial time when farmers are facing financial and climate challenges. Hectare Advance Pay is here to offer a sustainable financial solution, putting arable farmers in control and supporting them in achieving long-term stability and success.
The best part? There are no costs associated with using Hectare's crop trading tools, and farmers only pay fair market interest when choosing Advance Pay against a grain contract. It's all about providing instant cash flow without the hassle.
“Hectare was created by farmers, for farmers. We wanted to solve the complex puzzle of last mile trade finance for our farming community. We faced sceptics, but we felt that just maybe we could do something special and today, we’re proud to break new ground and support our customers in building sustainable financial success for their farming businesses every day.”
