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
Photos: Rebooted Startup Crawl reconnects entrepreneurs with a curious Kansas City
Kansas City’s Power & Light District was crawling with curiosity Friday as a sellout crowd made its rounds, participating in the recently revived Startup Crawl event and exploring a new side of the city they call home. “We saw a mix of familiar and unfamiliar faces,” said Austin Barnes, executive editor of Startland News and…
Give Black campaign returns, aiming to recapture energy needed to close racial wealth gap
The 2023 Give Black KC campaign kicked off Monday, beginning the annual week of fundraising efforts focused on supporting Black-led nonprofits in Kansas City in an effort to achieve racial equity. This year’s fundraiser will benefit four organizations: Be Great Together, Front Porch Alliance, WeCode KC, and Kansas City G.I.F.T. Brandon Calloway, CEO and co-founder…
Too many gyms leave people with disabilities to the wolves, says Wesley Hamilton; his solution: become a wolf yourself
Wesley Hamilton’s latest project — an inclusive gym in Westport — provides community and a comfortable environment for other people with disabilities, the entrepreneur-turned-reality TV personality and advocate shared. Hamilton, founder of the Disabled But Not Really Foundation and Kansas City social entrepreneur, opened the doors to his new training hub at 3939 Washington St.…
Pride Month campaign at Lifted Spirits celebrates humanity’s brilliant creations: humans, founder says
Michael Stuckey’s personal commitment to equitable treatment for all people made a Pride Month initiative for Kansas City distillery Lifted Spirits a no-brainer, he said — even as multinational brands like Bud Light and Target have seen backlash to pro-LGBTQIA+ campaigns. “It’s not a complex issue to me, honestly,” said Stuckey, founder of Lifted Spirits.…