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
KU Innovation Park names new CEO as business incubator ramps up regional eco devo efforts
LAWRENCE — A longtime financial executive at the KU Innovation Park who successfully led funding efforts for the nonprofit economic development organization’s sprawling campus has been officially named its CEO. Adam Courtney most recently served as CFO for the Lawrence-based KU Innovation Park before being named interim CEO in September 2023 after the passing of the…
Book lovers can finally go down The Rabbit Hole at a new North KC children’s literature museum
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. The new museum in North Kansas City’s Iron District is dedicated to immersing kids and their parents in the world of…
How the Kauffman Foundation is tripling down on its KC-focused strategy with trio of high-profile hires
Three new executives are joining the leadership team at one of Kansas City’s most-impactful foundations — a move meant to deepen connections to the city and drive a renewed approach to its mission of economic stability, mobility and prosperity for all. The trio — two Kansas City natives who became experts in their fields and a…
Food bank leases Lawrence restaurant to provide fresh eats for Kansans in need
Editor’s note: This story was originally published by Kansas City PBS/Flatland, a member of the KC 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. Lawrence, Kansas — Nearly a year after the COVID-19 public health emergency declaration ended…