Simon and Sam trace John Deere Financial from the Great Depression through its expansion into Africa, showing how the company's lending services evolved to support farmers across generations and continents.
For generations, John Deere financial has led the way so life could leap forward. Simon's great great grandfather was a man with ambition, but no means to work the land he'd inherited.
John Deere has been supporting the farmers pretty much from the start by offering them really informal credit terms for them to pay back their ploughs. So for many farmers, this meant that they could actually get off the ground.
For Simon's great great grandfather, the first seeds could be sown. With farms across Europe destroyed During World War I, agriculture in the United States experienced a boom. Simon's family farm was thriving. They had a market, they had support from the government. They saw growth in abundance. Then the Great Depression knocked the world to its knees. The stock market crashed, businesses failed, unemployment soared. Simon's family farm was struggling, producing more goods than people were able to buy.
In 1931, John Deere formalized their credit structure to support farmers during the Great Depression. It's still a story that the farmers are telling in the US when you speak with them. They began accepting farm credit notes and extended payment terms. And that really showed the commitment that Deer has towards the farming community.
In 1931, Simon's family farm was able to survive, build back and find firm footing once again. World War II brought another wave of growth in US agriculture. The market for produce saw a boost and farmers were starting to expand and mechanize. By 1958, Simon's grandfather was ready to diversify. With the help of the newly established John Deere Credit Company, he opened a farming dealership in their town, allowing the entire community to access John Deere equipment. Simon's grandfather saw an opportunity and with John Deere he could make the leap. For generations, farmers have known that there are times of growth and times of hardship. For generations, John Deere Credit has led the way with tailor made finance solutions to suit these unique needs.
John Deere Credit opened their business in Des Moines in 1986 and they experienced fantastic growth over the next decade. So much so that by 1998, their office space was deemed inadequate for their future operation.
Farmers could see this was a company set on progress and one they could trust in. Simon's family farm had seen many ups and downs. He knew that this was the nature of agriculture and so did John Deere. In 2004, John Deere risk Protection started offering crop insurance solutions. Supported by savvy industry professionals, it offered stability in an ever changing landscape. New horizons were calling. In 2005, Simon and his brother Sam had a heart to heart. Simon wanted a new adventure. Sam wanted to take over the family farm in Iowa. Plans were made. Goodbye Said and Simon embarked for South Africa to expand their business on a new continent. It was a big move, but he.
Knew he had supported John Deere Credit was introduced in South Africa in 2005, entering into an alliance with AppSobank. This alliance really revolutionized the finance market for John Deere equipment.
The new alliance meant that Simon would be able to get all of his John Deere equipment at best in class interest rates with the help of dedicated sales staff.
We started off with a very basic introduction of art stories. Remember, it's a prime 2/36 months 25 down payment. We soon realized and saw the significant impact that this product had in the market by increasing market share, increasing sales volume. But then also the competition soon followed and we had to expand our product scope to a more flexible type of product that would fit the need of each and every individual farmer.
In 2009, John Deere credit became John Deere Financial early reflecting the extended solutions they could offer clients like Simon. For generations, farmers have known there are times of steady growth and times of toil. For generations, John Deere has been working to create a sense of security. Simon's son is growing their business into Africa. Enabled by the strong support of John Deere Financial, enabled by personalized financial solutions, many others like Simon can leap forward in life. We invite you to join the journey.
