MLA Business Member Spotlight: Agri-Access

Agri-Access may sound like a company designed to work only with land-based agriculture, but in fact the nationwide secondary market financing provider focuses on the commercial fisheries and forestry sectors as well. “Agri-Access is headquartered in the Midwest but has a team serving the entire U.S.,” explained Matthew Senter, vice-president for lender releations. Senter works with community banks and financing providers in Maine and other Northeastern states.

Agri-Access provides local banks with the tools and financial products needed in order to feel more secure in making loans to fishermen. “We don’t lend directly to a person or business. We help banks extend financing to the lobstering sector by participating in loans that are originated by banks, in order to take on part or all of the risk associated with those loans. The Agri-Access products provide a valuable risk management tool to banks, ultimately helping to make more capital available to businesses involved in the lobster sector,” Senter said. “Fishermen deal with their local bank. We work with that bank.”

Senter, who previously was part of the leadership team at Farm Credit East and Yankee Farm Credit, understands some of the challenges lobstermen face obtaining financing and has experience working directly with the industry. “If you are operating a traditional business in Portland, you likely will have many financing options for your business. But if you are a fisherman purchasing a boat or gear, those options can be much more limited in many areas. The local community bank may be too small or unsure about making a significant number of fishing-related loans,” Senter said. “Agri-Access believes that the more options for credit for lobstermen, the better. We are focused on providing banks with products so that they are better able to provide financing for the lobster industry.”

Senter is looking forward to building partnerships with community banks and supporting the lobster industry in Maine. Becoming an MLA business member is one way to forge those links. “I want to keep connected to the Maine lobster fishery. We would really like to grow our connections with community banks, many of which have a long track record of supporting the lobster fishery. The MLA does a great job supporting the industry. We want to support you,” Senter said.

If a community bank or other financing provider is looking for a partner to help expand its loan products for the lobster industry, manage risk and provide more options for borrowers, Senter urges it to contact him.

Matthew Senter, Agri-Access

Middlebury, VT

507-810-0837

207-557-8755 (cell)

matthew.senter@agri-access.com