AgQuest Insurance

What AgQuest Insurance does

AgQuest Financial Services, Inc., operating under the brand AgQuest Insurance, is a privately held agricultural finance and insurance company headquartered in Morgan, Minnesota, and a subsidiary of Farmward Cooperative (formerly Harvestland Cooperative, dating to 1984). Founded in 1999 by Harvest Land Cooperative to provide personalized production financing to growers, the company serves agricultural producers, agribusinesses, and personal/commercial lines customers in Southern Minnesota and surrounding states, with insurance licensing cited across MN, IA, SD, WI, and AZ. Its product portfolio spans four pillars: (1) agricultural lending — Companion Direct Input Loans (unsecured up to $500K, secured up to $1M), Companion Complete Loans, real estate and facility loans, and machinery/equipment loans and leasing via a 20+ year partnership with Northland Capital; (2) crop and livestock insurance — MPCI, crop hail, area plans, LRP, LGM, DRP, PRF, and alfalfa insurance, offered as an Approved Insurance Provider through NAU, AgriSompo, and RCIS; (3) property & casualty insurance operated under the Minnesota River Insurance sub-brand (agribusiness, personal, and commercial lines); and (4) the state-subsidized Minnesota AgBMP 3% conservation loan program in partnership with the Minnesota Department of Agriculture.

Underlying technology includes the AQ Connect customer portal (24/7 loan management, payments, advances, document upload) and the Retailer Partner Portal (white-label, with bulk advance requests and real-time reporting), both integrated with DocuSign for digital signatures. Embedded finance is delivered via native integrations with three leading ag-retailer ERP platforms — Bushel, AgVend, and Agvance — making AgQuest financing available inside retailer customer apps and portals. Go-to-market combines dedicated relationship managers (meeting customers on-farm, in-shop, or at office), a 40+ retailer partner network of agricultural cooperatives and private retailers, and digital self-service through the portals. Revenue is generated from interest income on the lending book, insurance commissions across crop, livestock, and P&C lines, and equipment-lease origination fees; specific revenue and pricing are not publicly disclosed.

Name

AgQuest Insurance

Legal name

AgQuest Financial Services, Inc.

Website

https://agquest.biz

Company type

Private

Founded year

1999

Operating status

Operating

Headcount range

11–50 employees

Short description

AgQuest Insurance is a privately held, Southern Minnesota-based agricultural finance and insurance company — owned by Farmward Cooperative — that provides farm operating loans, equipment financing, crop and livestock insurance, P&C insurance (via Minnesota River Insurance), and conservation loans to producers and agribusinesses, distributed through 40+ retailer partners and digital portals.

Ownership category

akta.pro rank

Product category

Agricultural lending and insurance

NAICS

Agencies, Brokerages, and Other Insurance Related Activities (5242), Sales Financing (52222)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro industry

PRIMARYAFACAJAD

Farm Risk Management & Insurance Advisory

Agriculture & Food Production/Agricultural Services (Custom Farming, Agronomy, Veterinary)/Farm Management & Operational Advisory Services

SECONDARYFSAGALAF

Embedded Insurance Distribution & Premium Financing

Financial & Insurance/Financial Technology (Fintech)/Embedded Finance & Banking-as-a-Service (BaaS)

SECONDARYFSAJACAK

Crop & Farm Property Insurance

Financial & Insurance/Insurance — Motor, Property & Casualty/Property Insurance (Homeowners, Renters & Commercial Property)

Keywords

• Agricultural lending
• Crop insurance
• Livestock insurance
• Agribusiness insurance
• Rural financing

Headquarters

HQ city

Morgan

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Supply Chain

Revenue model

1. Agricultural Lending: Interest income from operating loans, real estate loans, and machinery/equipment loans. Provides lines of credit up to $1 million for qualified agricultural producers.
2. Crop & Livestock Insurance: Commission income from selling crop insurance products (MPCI, crop hail, revenue protection) and livestock insurance (LRP, LGM, DRP, PRF) as an approved insurance provider.
3. Property & Casualty Insurance: Commission income from P&C insurance products including farm packages, commercial, and personal lines. Operates as Minnesota River Insurance brand.
4. Equipment Leasing: Partnership with Northland Capital for equipment leasing. Company serves as originator while Northland Capital provides lease financing.

Pricing tiers

Go-to-market motion4 records

Distribution channels5 records

Marketing channels5 records

Core offering

AgQuest Insurance is an agricultural financial services firm providing production lending (operating loans, real estate/facility loans, machinery and equipment loans and leasing, and Minnesota AgBMP conservation loans) and a full spectrum of crop, livestock, and property & casualty insurance products. It distributes these through its own relationship managers, licensed insurance agents, and a retailer partner network of 40+ agricultural cooperatives and private retailers, supported by the AQ Connect digital customer portal and ERP integrations with Bushel, AgVend, and Agvance for embedded point-of-sale financing.

Product overview

AgQuest Insurance is an agricultural financial services company offering a comprehensive portfolio of financing and insurance products for farmers and agricultural producers. The core financing offerings include Companion® Direct Input Loans (up to $1 million secured lines of credit), Companion® Complete Loans (full-operating lines), Real Estate & Facility Loans, and Machinery/Equipment Loans and Leasing through Northland Capital partnership. Insurance products span crop insurance (MPCI, Crop Hail, Area Plans), livestock insurance (LRP, LGM, DRP, PRF, Alfalfa insurance), and property & casualty insurance (Agribusiness, Personal, and Commercial lines). The company operates through a retailer partner network integrated with ERP platforms (Bushel, AgVend, Agvance) and offers digital portals (AQ Connect for customers, Retailer Portal) for loan management, payments, and document processing. Minnesota AgBMP program provides 3% low-interest loans for conservation equipment.

Differentiator

Problem solved

Functional benefit

Products and services

• Companion Direct Input Loans A convenient line of credit designed specifically for retailer purchases, with unsecured lines up to $500,000 and secured lines up to $1 million with a simple application process and same-day funding available. For agricultural producers purchasing inputs through partner retailers.
• Companion Complete Loans Traditional full-operating lines of credit with revolving and second-year loan options, including the potential for application-only processing on loans up to $1 million. For qualifying agricultural producers seeking comprehensive annual operating financing.
• Input & Operating Loans Short-maturity operating loans that finance direct crop and livestock production expenses, typically secured by current assets such as crop and livestock inventories. For agricultural producers.
• Real Estate & Facility Loans Long-term loans collateralized by real estate, covering unimproved farm ground, rural residences, and traditional farm sites, plus facility loans for livestock facilities, grain bins, and machine sheds. For agricultural producers and landowners.
• Machinery & Equipment Loans and Leasing Intermediate-term loans collateralized by machinery and equipment inventory, with priority position on equipment. Leasing options provided through a partnership with Northland Capital. For agricultural producers purchasing tractors, implements, and other farm equipment.
• Minnesota AgBMP Loans 3% low-interest loans from $25,000 up to $200,000 with terms up to seven years, provided in partnership with the Minnesota Department of Agriculture for conservation equipment (manure handling, tillage, nutrient management). For agricultural producers.
• Multi-Peril Crop Insurance (MPCI) Federal multi-peril crop insurance covering yield losses from drought, excessive moisture, freeze, disease and other natural causes, including APH, Yield Protection (YP), Revenue Protection (RP), and RP-HPE. For agricultural producers.
• Crop Hail Insurance Private hail-damage coverage for planted fields, purchased during the growing season ahead of hail events or sales deadlines. Not part of the Federal crop insurance program. For agricultural producers seeking add-on hail protection.
• Area Plans (ARPI, ARP, ARP-HPE, AYP) County-based crop insurance that pays on area experience rather than individual farm yields, including Area Revenue Protection (ARP), Area Revenue Protection with Harvest Price Exclusion (ARP-HPE), Area Yield Protection (AYP), and ARPI. For agricultural producers.
• Livestock Risk Protection (LRP) Single-peril insurance that protects cattle and swine producers against unexpected declines in market prices, without requiring futures trading, margin calls, or long-term commitments. For cattle and swine producers.
• Pasture, Range, Forage (PRF) Insurance Insurance that protects livestock producers against forage losses due to lack of precipitation, based on area rainfall data rather than individual production records. For livestock producers reliant on pasture and forage.
• Livestock Gross Margin (LGM) Insurance Insurance that protects cattle and swine farmers against declines in feeding margin when feed costs rise and profits drop. For cattle and swine finishers seeking margin protection.
• Dairy Revenue Protection (DRP) Quarterly revenue protection for dairy farmers based on milk futures prices, insuring that quarterly milk sales revenue stays above a specified level. For dairy farmers seeking milk price risk protection.
• Alfalfa Seeding and Production Insurance Insurance that protects producers against risks in establishing and producing alfalfa, covering weather-related losses and stand-establishment risk. For alfalfa producers.
• Agribusiness Insurance Farm and business insurance including business auto, property, liability, and workers' compensation coverage. Delivered through Minnesota River Insurance in Southern Minnesota. For agribusinesses and farm operators.
• Personal Insurance Personal lines insurance including homeowners, auto, motorcycle, ATV, snowmobile, boat, motorhome, condo, renters, and landlord insurance, available throughout Southern Minnesota to anyone — not limited to agricultural producers.
• Commercial Insurance Commercial insurance for businesses, including businessowner packages, general liability, mobile equipment, business auto, workers compensation, cyber liability, EPLI, D&O, bonds and surety, and business umbrella coverage. For small and mid-market businesses in the service area.

Quantifiable outcome

• Injury incidence rate better than 97th percentile of state and national averages

Named customers5 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Feature3 records

Partnerships

13 partnerships are on record, tiered core and minor.

• Northland CapitalcoreTechnology or IntegrationEquipment leasing partnership spanning over 20 years. Northland Capital provides lease financing while AgQuest originates loans and works with customers. Also partners on Minnesota AgBMP low-interest loan program (3% rates for conservation equipment).
• BushelcoreTechnology or IntegrationERP integration partner providing embedded finance options in retailer customer portals and apps. Part of AgQuest's digital platform strategy for seamless financing integration.
• AgVendcoreTechnology or IntegrationIntegration partner enabling AgQuest financing options within AgVend's retailer platform. Allows for embedded finance experience in retailer customer portals.
• AgvancecoreTechnology or IntegrationERP integration partner providing embedded financing options. One of three core integration partners (alongside Bushel and AgVend) for AgQuest's retailer financing platform.
• Farmward CooperativecoreStrategic or Co-development PartnerParent company originally formed by Harvest Land Cooperative (now Farmward). AgQuest was created to provide personalized production financing and strengthen relationships with growers. Roots trace back to local grain and farm supply cooperative.
• NAU (National AG Insurance)coreChannel Partner/ Reseller/ DistributorApproved Insurance Provider represented by AgQuest Insurance. One of three crop insurance providers offered through AgQuest's crop and livestock insurance services.
• AgriSompocoreChannel Partner/ Reseller/ DistributorApproved Insurance Provider represented by AgQuest Insurance. Crop insurance products offered through this provider partnership.
• RCIS (Rural Community Insurance Services)coreChannel Partner/ Reseller/ DistributorApproved Insurance Provider represented by AgQuest Insurance. One of the approved providers for Multi-Peril Crop Insurance (MPCI) and other crop insurance products.
• Farmward CooperativecoreChannel Partner/ Reseller/ DistributorPrimary retailer partner and originating cooperative. Work with retailers big or small, cooperative or private, providing input financing experience.
• CentraSota CooperativecoreChannel Partner/ Reseller/ DistributorAgricultural cooperative retailer partner offering AgQuest financing to their grower customers.
• Crystal ValleycoreChannel Partner/ Reseller/ DistributorCooperative retailer partner providing AgQuest financing options to their customer base.
• CFS (Central Farm Service)coreChannel Partner/ Reseller/ DistributorAgricultural cooperative retailer partner.
• 40+ Additional Retailer PartnersminorChannel Partner/ Reseller/ DistributorNetwork of 40+ retailer partners including: Ag Nutrients LLC, Ag Vantage LLC, Agri-Chem LLC, Agri-Inputs Sales & Consulting, AgroLogics LLC, Alcivia, Axis Direct LLC, BASS Hybrids, Central United Cooperative, Concept AgriTek, Dakota Ag Center, Dark Water Enterprises, DelStar Inc., Direct Ag Supply, Fitts Seed, Frieling Ag Solutions, Glacial Plains Cooperative, Graves Enterprises, Great Heart Seed, Hi Yield Products, Holmes Ag Supply, Hutchinson Cooperative, Innovative Ag Solutions, Lane Procurement Services, Meyer Seed, Mid-County Coop, Norman, NutraMaize, Osakis Creamery Association, Sinai Co-op Elevator, Titan Ag, Trico Ag Service, Village Ag, West-Con, West Nebraska Seed & Chemical, Winsted Farmers Co-op.

Scale indicators5 records

Recent moves10 records

Expansion highlights5 records

Direct peers

• Compeer Financial: Farm Credit System cooperative serving Illinois, Minnesota, and Wisconsin with agricultural lending, crop insurance, and rural financing. Closest structural peer to AgQuest given its cooperative roots, multi-state Midwest footprint, and bundled lending-plus-insurance model.
• Heartland Crop Insurance: Independent crop insurance agency operating across the Midwest. Closely comparable in business model — independent agency writing MPCI and hail products for farm customers in overlapping geographies.
• NAU Country Insurance Company: Approved Insurance Provider for Multi-Peril Crop Insurance and a current AgQuest carrier partner. Comparable as a crop insurance specialist serving independent agents across the U.S., though at the carrier rather than agency level.
• Rain and Hail LLC: Large crop insurance underwriter serving independent agents across the U.S. with MPCI, crop hail, and livestock products — substantially overlapping AgQuest's crop and livestock insurance portfolio.
• Rural Community Insurance Services (RCIS): Major crop insurance provider and one of AgQuest's three AIP partners. Directly comparable as a federally regulated crop insurance underwriter working through independent agent networks in the Midwest and Plains.
• AgriSompo North America: Crop insurance carrier and AgQuest partner offering MPCI and named-peril products. Comparable as an Approved Insurance Provider distributing through independent agencies in the same producer geographies.
• ProAg: Approved Insurance Provider offering MPCI, crop hail, and livestock coverage through independent agents. Operates as a direct competitor in the crop insurance distribution chain alongside AgQuest.
• Farm Credit Services of America (FCS America): One of the largest Farm Credit System associations, providing operating loans, real estate loans, and crop insurance across Iowa, Nebraska, South Dakota, and Wyoming. Directly comparable on ag lending products, crop insurance agency relationships, and farmer-customer base.

Emerging players

• Growers Edge: Ag-fintech providing input financing, crop insurance, and data-driven financial tools to farmers and ag retailers. Comparable as a digitally native embedded-finance entrant targeting the same cooperative and retailer channels AgQuest serves.

Others

• Bushel: Grain and ag-retail platform integrated with AgQuest for embedded finance distribution. Comparable as the underlying technology rails through which AgQuest's white-label lending products reach farmer customers.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/aqfinance
• Facebookfacebook.com/agquest
• LinkedInlinkedin.com/company/bill-arthur-40a0393b

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about AgQuest Insurance