Specialty Finance Company Joins Florence Chamber, Cuts Ribbon
by Ardie Arvidson
AG Resource Management (ARM) held a ribbon-cutting ceremony on Monday morning to celebrate its membership in the Greater Florence Chamber of Commerce Chamber. Chamber ambassadors were there to help celebrate.
AG Resource Management is located at 205 N. Irby St. Suite C, in Florence
Dr. Cy F. Boyer is the market leader at ARM, a specialty finance company focusing on “bringing financial and risk management solutions to agribusiness.”
The company opened in October 2018 in Florence.
Boyer said their lending is based on the crop, crop insurance and government payments.
He said the company’s background is primarily in agriculture.
“We help farmers stay in business,” Boyer said.
He said they also write crop insurance.
The company was founded 11 years ago by Brad Terrell and has 36 branches, with 10-12 slated to open this year and another 10-12 next year.
Boyer said the company now has $1 billion in assets and 7.5 million loans.
“People are beginning to ask who we are,” Boyer said. “It is a great company with a great culture.”
Boyer is a staff of one at the moment but says plans are to hire five to seven staffers.
He said business has been mostly by referrals and word of mouth from farmers.
Boyer said he has 27 years of experience in all areas of banking. He obtained his Ph.D. in applied science from Regis University in Denver, and he attended the University of South Carolina in the 1970s. He is from Georgia.
Office hours are 7:30 a.m. to 4:30 p.m. Monday through Friday.
For more information, call 843-676-5623.
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