Tillable & Compeer offer rapid loan applications for mobile devices
A company that helps farmers and landowners manage land with technology is now speeding up the farm mortgage process. Corbett Kull with Tillable tells Brownfield his own experience with buying a farm prompted him to look at digitizing the loan application process. “What I ran into was kind of a cumbersome process of filling out paperwork and then waiting a long time to see if I was approved for that farm loan or that farm mortgage.”
Kull says Compeer Financial has been a great partner for Tillable and has been forward-looking when it comes to technology, so working together on a loan application farmers can quickly fill out on any mobile device made sense. “You can apply for a farm loan through Tillable through this partnership with Compeer, fill out the application online, submit it, and get a very rapid response or an instant response on whether you’ve been approved for the loan.”
Kull says the online tool also gives the applicant the interest rates, amount of financing available, and the options for how long the mortgage can be.
Kull says Tillable’s mobile farm financing tool can be handy when land becomes available and farmers don’t have a lot of time to decide, such as during an auction. For now, Kull says they work exclusively with Compeer in Minnesota, Wisconsin, and Illinois.
Farmers, landowners, and investors can visit the Tillable website to shop for a farmland mortgage, refinance their current loans, or finance their cash rent.