Global Prairie sues ag tech firm FarmLink for loan default
January 5, 2017 | Bobby Burch
Kansas City-based marketing firm Global Prairie has filed suit against a local ag tech firm for defaulting on a loan, according to a document that was filed Nov. 14 in Jackson County Court.
In the document, Global Prairie alleged that Kansas City-based FarmLink failed to fulfill payments on a promissory note in the amount of $568,390 plus interest. A promissory note is a financial tool used to put the terms of a loan in writing and contains a written promise to pay a stated sum on a specific date.
FarmLink — whose website is now inoperable — offers a suite of tech services for farmers, including its analytics platform TrueHarvest and machinery sharing platform MachineryLink Sharing.
Led by CEO Ron LeMay, the company has raised about $77 million in capital. LeMay is also the managing director of OpenAir Equity Partners, which is a top investor in FarmLink.
FarmLink in February announced that it would split its company into two businesses, FarmLink and MachineryLink Solutions. The court filing includes two other affiliate organizations: FarmLink LLC and FarmLink Analytics.
Anne St. Peter founded Global Prairie in 2008. The firm has since opened offices in Chicago, Cleveland, Denver, Fort Worth, Washington, D.C., Berlin and Brussels.
“This is a legal matter and we intend to limit any comments to our court filings,” said Greg Wolf, an attorney at Dentons that’s representing Global Prairie.
FarmLink has not yet responded to request for comment. The ag tech firm was selected by Startland News as one of Kansas City’s top 10 startups to watch in 2016.
Featured Business
2017 Startups to Watch
stats here
Related Posts on Startland News
Lawmaker lauds historic significance of minority chambers’ Ward Parkway collaboration, address
Editor’s note: This story was originally published by Kansas City PBS/Flatland, a member of the Kansas City Media Collective, which also includes Startland News, KCUR 89.3, American Public Square, The Kansas City Beacon, and Missouri Business Alert. Click here to read the original story. The tony address is not lost on anyone. Ward Parkway, symbolic of Kansas…
The village is real; it’s me; it’s you: Family of support at the heart of successful women entrepreneurs
Wendy Doyle’s mother — herself an entrepreneur — instilled in her daughter a belief that women have a responsibility to boost their sisters in the world of business, the United WE leader said. “I watched her support other women owned businesses, women in need, and encourage women to run for elected office and even help…
Love story TV: Taylor Swift, Travis Kelce inspire Chiefs-themed Hallmark Christmas movie
Editor’s note: The following story was published by KCUR, Kansas City’s NPR member station, and a fellow member of the KC Media Collective. Click here to read the original story or here to sign up for KCUR’s email newsletter. Savannah Hawley-Bates contributed to this story. Kansas City’s homegrown relationship between Chiefs tight end Travis Kelce and superstar Taylor Swift…
Taste tested: This entrepreneur’s proven pairing puts KC red wine chocolate on the map
Wine and chocolate: a classic pairing that compelled chemist-turned-entrepreneur Shawn Hall to concoct what he believes is the perfect combination of two beloved tastes. Cocoavino — his velvety blend of Belgian dark chocolate and a complex red wine reduction that first debuted on the market in 2021 — recently skied to the national stage at…