Minneapolis, Dec 30 – National cooperative bank, CoBank, has joined the Minnesota Bio-Fuels Association (MN Biofuels) as a vendor member.
“We are pleased to welcome CoBank as a vendor member. CoBank serves as a dependable provider of credit and other value-added financial services that supports the ethanol industry,” said Tim Rudnicki, executive director of MN Biofuels.
A member of the Farm Credit System, CoBank provides financial services to 21 affiliated Farm Credit associations serving approximately 70,000 farmers, ranchers, agribusiness and other rural borrowers in all 50 states.
Established in 1989 and headquartered outside Denver, Colorado, CoBank supports the breadth and depth of the agricultural industry, including the ethanol industry and the grain sectors.
“We made our first loan in the biofuels industry in the mid-1990s, and are currently one of the largest, if not the largest, lenders to the ethanol industry,” says Tom Houser, CoBank regional vice president.
He said CoBank currently provides financing to numerous ethanol plants throughout Minnesota, and is proud to support the growth of the industry within the state.
“We’re pleased to help to advance MN Biofuel's mission to increase market access for renewable biofuels, as we do in other states across the nation, and look forward to continuing to support the industry through its economic cycles,” Houser said.
Other services the company offers include flexible loan programs, leasing services, cash management, export financing, online services and specialized financial services that meet the varying needs of the industries it serves.
Learn more about CoBank here.
Picture Caption: (from left to right) CoBank vice presidents, Kathy Frahm and Tom Houser.