Blanchard Valley Farmers Cooperative
Findlay, Ohio
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Blanchard Valley Farmers Cooperative's terminal will handle about $81 million in business this year. Photo Courtesy Blanchard Valley Farmers Co-op |
Co-op type: Rural farm supply and grain marketing.
Service provided: Grain storage and sales; feed; fertilizer; chemicals and petroleum products.
Geographic area served: Eight counties in northwest Ohio.
CEO/General Manager: Jerry Silveus.
Number of locations: Eleven locations: 10 in Hancock County and one in Putnam.
Annual product volume/sales revenue: Blanchard Valley typically handles 20 million bushes of grain. Annual sales revenue reaches $81 million.
Number of members: 2,000.
Number of employees: 93.
Largest markets: Local farmers, Mennel Milling, Archer Daniels Midland, Central Soya, and Nabisco. Blanchard Valley's grain is shipped to the Southeast U.S. from two 50-railcar loading facilities.
What is unique about Blanchard Valley Co-op? "Its extremely efficient location of facilities," say co-op officials. "Locations are spread out perfectly throughout our service area to reach a 5-7-mile radius with little competition from other companies or its own branches."
How did a USDA Business & Industry Loan help Blanchard Valley? The B &I loan guaranteed a 13-year, $3.55 million loan & from CoBank to purchase an existing 6.5 million-bushel grain elevator in Fostoria, Ohio. "The B&I guaranteed loan allowed our banker to become more friendly towards a large purchase that would have been otherwise impossible," says Silveus. 'Blanchard Valley wanted to buy the grain facility to ensure a marketplace for all grain commodities for local farmers. By purchasing the grain terminal, Blanchard Valley will be able to remain a long-term, significant player in the farm supply and grain marketing business."
Plans to keep viable in the 21st century: Diversification of business to provide less dependence on seasonal sales. For example, Blanchard Valley recently opened an unattended, retail fuel station for petroleum sales. This 24-hour fuel station can be used by anyone with national credit cards and by members who will have special cards providing discount prices.
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