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Tillable launches online financing farmland rental platform

Tillable, an online marketplace for farmland rental, has launched a new digital platform.

CEO Corbett Kull says Tillable Finance will help streamline financing farmland rentals.

“We came out with a way for farmers to finance rent payments via Tillable,” he says. “Typically, in a cash rental agreement the farmer has to pay 100 percent of his rent on our near March 1. We came up with a financing program that allows the farmer to apply for financing to make his rent payment and then the farmer pays that loan back at the end of the season.”

The online tool was launched in parts of Minnesota, Wisconsin, and Illinois. Kull says they plan to expand into other Midwestern states within the next year.

Kull says it’s a unique option for farmers.

“If you think about it, a farmer can go into a dealership and finance his tractor, he can call up a seed company and finance his seed, but he hasn’t had an easy way to finance his rent payment and that’s the gap we hope to fill with Tillable Finance,” he says.

Tillable Finance expects to facilitate more than $100 million in farmer financing through mid-2022.

About 40 percent of all farmland is rented. Kull says Tillable wants to help farmers access more land and landowners get fair market value for farmland.

Click here for more information.

Audio: Corbett Kull