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Lenders – Protect Your Interests by Managing Risk
Bovitrak helps you manage cattle loans risks
 At all levels of the industry, from calving to finishing, the inherent nature of the cattle business dictates that on-the-hoof assets are heavily financed. Traditionally, cattle are assigned as security on loans by way of a security agreement on a group of animals. At best the animals may carry a brand or ear tag. Given the many locations through which cattle pass on their way to maturity, it is not always possible to know where the asset is located at any one time.
Until now, lenders to the cattle industry have accepted the often-casual nature on which transactions were conducted. When you back up that friendly handshake with the assurance of Beef Concepts' Bovitrak system, you get a win-win result: plenty of "relationship capital", plenty of good hard data you can trust.
Unlike broader based systems that cannot track individual animals, Bovitrak gives the lending institution an Internet-based tool that tracks individual animals at every step of their lifetimes. This makes it possible to maintain accurate, up-to-date valuations.
Bovitrak does all this:
- Offers on-line searching, tracking and notification of status of cattle to ensure lenders don't unknowingly offer loans on cattle that have already been pledged as collateral
- Provides inventory valuation reporting, monitoring the value of the loan against actual market values and managing risk associated with individual and overall loan portfolios
- Monitors the status and ownership of cattle, protecting against the conversion of collateral to cash, through either verifying or by receiving "pushed" reports when cattle have been sold
- Can source-verify individual animals, thus proving their health and protecting against potential catastrophic food safety incidents
Find out more about Bovitrak by clicking the topics at the top.
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