Your Role inWorking with AGRIfinancial Services
Our organizational goals are to mutually serve the crop insurance and credit needs of customers. We understand and appreciate that your primary focus is on delivering great crop insurance coverage and service to your clients. As you’ve done so, we think that opens the door to a conversation about their financial needs. Here are the 5 key steps it takes to refer business to AGRIfinancial and earn commissions for your service:
- Uncover customer needs
- Create interest in AGRIfinancial
- Collect basic information
- Create a smooth transfer
- Follow up with the customer
Here are our basic expectations in each of these areas:
- Uncover customer needs—This is work that you probably have already done as you’ve talked with the producer for crop insurance coverage. You’ve begun to know the operation and their farming plan. It’s also likely that you’ve heard the operator talk about their next moves and what’s planned for the future. That information is very vital to AGRIfinancial because it can point to needs for financing.
- Create interest in AGRIfinancial—Since your customers already have trust in you and your relationship, it’s not a far stretch to simply ask, “Have we done a good job providing your crop insurance?” The answer is yes, and that is your opportunity to introduce your sister company AGRIfinancial Services. “I’d like to tell you about them and suggest you might consider them for financing.” In today’s market, one of the key things producers are looking for are long term fixed rates. AGRIfinancial has those products so it’s extremely timely and relevant to bring them up in the conversation. Just ask for the “opportunity” to look at their business. In addition to product information (in this booklet) you also have daily access to our loan rates. You can use both to convey good information that most producers are extremely interested in knowing.
- Collect basic information – this is another area where you already have a good amount of work done because you have their crop records (based on their insurance coverage). To provide a solid referral to AGRIfinancial, we would need the name, address and contact numbers of the producer. We need a short, but clear narrative on what they are trying to accomplish. In other words, explain the deal. Then, if the information is available, collect copies of the customer’s balance sheets, taxes (past 3-4 years) and that prior year crop records (past 3-4 years).
(A simple form is enclosed in this packet which shows you the type of information we need to move forward on a credit request.)
- Create a smooth transfer—You already know your client, and passing your knowledge on to our underwriter is invaluable. When you can help background our staff on the client, and his needs, that goes a long way in providing the most efficient and effective loan process we can possibly deliver. You customer also needs to know what to expect from us (at AGRIfinancial). Prior to making any contact with your client, an AGRIfinancial underwriter will contact you to discuss your referral information and learn about your client. The underwriter will explain what’s going to happen next, and give you an explanation of what the client can expect. When a loan application is in process, there are confidentialities with the customer that we cannot share. But we will keep you in the communications loop regard the timing, process and outcome of the deal.
- Follow up with the customer—Sometimes as credit applications work forward, AGRIfinancial may need additional information from a producer. That could include collecting documents or coordinating other work (which needs to be done at the site). We will strive to keep this work at a minimum.