Ag Services of America Introduces New Credit Options For Purchasing Through Powerfarm.com.Business Editors & Technology Writers CEDAR FALLS Cedar Falls, city (1990 pop. 34,298), Black Hawk co., N Iowa, on the Cedar River; inc. 1854. It developed as a milling center in the late 19th-century after the coming of the railroad; its name is derived from the cedar tree. , Iowa--(BUSINESS WIRE)--April 2, 2001 Ag Services of America, Inc. (NYSE NYSE See: New York Stock Exchange :ASV ASV abbr. Bible American Standard Version ASV n abbr (= American Standard Version) → traduction de la Bible ASV n abbr (Bible) (= ) which owns and operates Powerfarm.com(TM), an agriculture e-commerce site providing crop inputs from major industry firms, announced today the introduction of the new Powerfarm Plus Card(TM) and an equipment financing option to purchase products online at Powerfarm.com. "The Powerfarm Plus Card gives our users yet another choice when it comes to financing their purchases through our site," said Tad Mozena, Vice President of Marketing at Powerfarm.com. "This new option offers farmers a smaller, revolving line of credit Revolving line of credit A bank line of credit on which the customer pays a commitment fee and can take and repay funds at will. Normally a revolving LOC involves a firm commitment from the bank for a period of several years. that is not tied to a crop year for repayment and can be activated quickly with a short approval time." The Powerfarm Plus Card offers competitive rates versus traditional cards, with a variable interest rate based on the prime rate. The Card offers a minimum credit line of $2,500 with a maximum at $15,000. Powerfarm Plus Card holders will be required to make minimum monthly payments, but are not charged any annual fees. "Ag Services of America developed the Powerfarm Plus Card as another way to meet the individual credit needs of all farmers, regardless of the size of their operation or what type of credit terms Credit Terms The conditions under which credit will be extended to a customer. The components of credit terms are: cash discount, credit period, net period. they may prefer," said Mozena. "The features of the Plus Card nicely compliment our existing AgriFlex and Powerfarm Credit options." Ag Services has also made an equipment financing option available through Powerfarm.com to finance purchases of existing or future equipment products available through the site. This option offers three to five year notes with interest rates again tied to the Prime rate. Powerfarm.com has compiled one of the most comprehensive assortments of agriculture products, services, credit and leasing options available on the Internet today. Products currently available include seed, fertilizer and crop protection products, along with headline ag news, market quotes and weather. Growers can shop at their convenience day or night for products and sign up for additional services like crop insurance, grain marketing programs, crop scouting and soil sampling services. Within the Powerfarm Community, growers can post questions for the company's agronomists and Certified Crop Advisors, as well as communicate with other producers around the world to share ideas and discuss topics of concern. Ag Services of America, Inc., which operates Powerfarm.com, is based in Cedar Falls, Iowa Cedar Falls is a city in Black Hawk County, Iowa, United States, and it is home to one of Iowa's three public universities, the University of Northern Iowa. The population was 36,145 at the 2000 census. , and is a leading supplier of input financing and agricultural inputs, including seed, chemicals, fertilizer and cash advances to primarily corn and soybean soybean, soya bean, or soy pea, leguminous plant (Glycine max, G. soja, or Soja max) of the family Leguminosae (pulse family), native to tropical and warm temperate regions of Asia, where it has been growers in the U.S. ASV's one-stop shopping business model includes competitive and flexible financing packages through its AgriFlex Credit(R) program combined with the most comprehensive offering of agricultural inputs from national sources such as Asgrow, Aventis, BASF BASF Bar Association of San Francisco (since 1872; San Francisco, California) BASF Badische Anilin und Soda Fabrik (German chemical products company) BASF Builders Association of South Florida , Dekalb, Dow AgroSciences, DuPont, Garst, Monsanto, Pioneer Hi-Bred and Syngenta. The company also provides ancillary services such as crop insurance, crop scouting and grain marketing. The Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 provides a "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " for forward-looking statements. This release contains forward-looking statements based on current expectations that involve a number of risks and uncertainties. The factors that could cause actual results to differ materially, include the following: general economic conditions within the agricultural industry; competitive factors and pricing pressures; changes in product mix; changes in the seasonality of demand patterns; changes in weather conditions; changes in agricultural regulations; unknown risks; the amount and availability under its asset backed securitization Securitization The process of creating a financial instrument by combining other financial assets and then marketing them to investors. Notes: Mortgage backed securities are a perfect example of securitization. May also be spelled as "securitisation. program; and the risks described from time to time in the Company's SEC reports. AgriFlex Credit is a registered trademark and Powerfarm.com, Powerfarm Credit and Powerfarm Plus Card are trademarks of Ag Services of America, Inc. All other trademarks or product names are the property of their respective owners. For more information visit www.agservices.com or www.powerfarm.com. |
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