ProducePay Announces New Quick-Pay+ Service; Pablo Borquez Details
LOS ANGELES, CA - ProducePay is aiming to put a little more green back into growers’ pockets as it launches a new financing option. The ag marketplace dedicated to providing trade protection, capital, and market insights recently launched Quick-Pay+, a new financing option that allows growers to improve their yield and cash flow, all while connecting them with pre-vetted buyers.
“This is an important milestone for the agribusiness, since never have producers had the ability to recover their investment so quickly, therefore allowing them to reinvest capital and make production more efficient,” commented Pablo Borquez, Chief Executive Officer and Founder of ProducePay.
Through this solution, the company aims to boost the fresh produce market. As noted in the release, growers will be able to receive up to 96 percent of their shipment's value 24 hours after the buyer confirms its reception. Growers will not only increase their yield with Quick-Pay+, but the company noted buyers will have the possibility to expand their business and diversify their commodity portfolio with growers in the United States, Mexico, and South America.
With the launch of this product, ProducePay aims to increase transactions exponentially through its platform and materialize the vision of an industry where fresh produce transactions are paid immediately and transparently upon delivery.
According to the U.S. Department of Agriculture (USDA), agriculture, food, and related industries contributed $1.109 trillion dollars to the U.S. gross domestic product (GDP) in 2019 alone, indicating a need for a transparent and easy way for American buyers to trade fresh produce.
ProducePay’s Marketplace allows buyers to conduct transparent, fair, and quality transactions directly with growers in the United States and Latin America. The company expects Quick-Pay+ to improve and facilitate the transactions of fresh produce, providing buyers access to growers ready to trade in easy and flexible terms.
To learn more about this innovative service, click here.
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