Press
Sageworks releases Credit Analysis for Ag Lending
RALEIGH, NC (June 8, 2015) – Sageworks, a financial information company that provides credit risk management solutions to financial institutions, today announced it will release Sageworks Credit Analysis for Ag Lending as part of the Sageworks solutions available to banks and credit unions. The new module expands the existing credit analysis solution to now analyze agricultural loans and build projected farm cash flows. Available this week, Sageworks Credit Analysis for Ag Lending offers a single system for loan underwriting and administration across different concentrations, allowing those institutions to reduce operational and trainings costs, as well as streamline processes and vendor due diligence.
Hundreds of banks and credit unions already rely on the Sageworks suite of solutions to accurately and efficiently calculate global creditworthiness of commercial and complex borrowers. Utilizing a simple, easy-to-use platform, Sageworks Credit Analysis for Ag Lending helps standardize and document lending decisions for institutions’ agricultural borrowers. The solution aims to
- create uniformity within the lending process, including documentation, across different concentrations
- eliminate redundant data entry within the balance sheet and collateral, which helps ensure accuracy and save time
- simplify the creation of a cash flow projection by leveraging historical production data
- satisfy reporting requirements associated with ag lending
While the Sageworks suite of solutions has served the banking industry since 2006, the new module will make specialized automation available to those banks and credit unions that serve agricultural business customers and communities.
“In developing the Sageworks Credit Analysis for Ag Lending solution, we’ve listened carefully to our clients that serve this market so we understand the intricacies and risks that can come with an agricultural portfolio,” said Scott Ogle, CEO of Sageworks. “With their needs in mind, we developed this Ag model so banks and credit unions serving our community farms can also benefit from the automation and efficiencies that our clients see in underwriting through impairment.”
For additional information on Sageworks Credit Analysis for Ag Lending, or to learn more about the Sageworks suite of solutions, visit SageworksAnalyst.com or download a product overview.
About Sageworks
Sageworks is a financial information company that provides risk management, financial analysis and business valuation solutions to accounting firms and financial institutions. Visit www.sageworks.com to learn more.