Share Your Experience Lending to the Food System - Short Survey for CDFA Research!
CDFA is researching the feasibility and market demand for a national food systems loan guarantee program to help unlock investment for food- and agriculture-related businesses and projects. This research includes surveying loan funds operated by private, public, and quasi-public development finance agencies (DFAs) around the country to learn more about existing lending programs. Please take a few minutes to share your expertise in this short survey!
Join CDFA at the 2023 National Development Finance Summit
CDFA is traveling to Philadelphia, PA for the 2023 National Development Finance Summit! The NDFS brings together leaders and dealmakers in the development finance industry to discuss best practices, trends, and project financing solutions. Early Bird registration rates end October 13 so register today!
$11M to Revolutionize Investment in Black Agricultural, Food Businesses in New York
Black Farmer Fund (BFF) has reached a major fundraising milestone by successfully raising $11 million of the $20 million goal for BFF Fund 2.0. BFF Fund 2.0 builds off of the Pilot Fund and is a $20 million integrated capital fund that provides Black agricultural and food businesses in the Northeast with grants, patient debt, and technical assistance to optimize their growth potential and social impact.
Missouri Farm Business Closes C-PACE Loan for Solar Project
The Missouri Green Banc, a nonprofit green lender and affiliate of the Missouri Clean Energy District (MCED), and Allectrify, a public benefit corporation that specializes in helping banks offer commercial property-assessed clean energy (C-PACE) loans to developers and small-business owners, have facilitated the closing of a $400,000 C-PACE loan to finance the installation of solar PV systems for Porter Farms in Mercer County, MO.
Join CDFA for Our Upcoming Intro Tax Credit Finance Course
Register for CDFA's Intro Tax Credit Finance Course taking place on September 27-28 to learn the application of tax credit programs and their use in greater economic development finance efforts. Our panel of expert speakers will discuss tax credit programs including new markets, low-income housing, historic preservation, and state-specific programs.
X-Caliber Leads $52M Financing for California Almond Cold-Storage Expansion
California Custom Processing has sealed a $33.5 million debt package for the refinance and expansion of an almond processing facility and renewable energy system in Northern California. X-Caliber Rural Capital provided a $29.5 million loan through the USDA Food Supply Chain Guaranteed Loan Program for CCP's 65,000-square-foot asset in Madera, California. CastleGreen Finance also supplied $4 million of C-PACE financing for the project through the California Statewide Communities Development Authority.
$266M to Agricultural Producers, Rural Small Businesses for Energy-Related Improvements
The U.S. Department of Agriculture (USDA) announced that it is awarding $266 million in loans and grants to agriculture producers and rural small businesses to make investments in renewable energy and energy efficiency improvements that will lower their energy costs, generate new income, and strengthen the resilience of their operation. This funding is made possible in part by the Inflation Reduction Act.
Agriculture Loan Program Open for Kentucky Meat and Poultry Processors, Growers
Community Ventures announced that the Kentucky non-profit is now accepting agriculture loan applications from new and existing growers or meat and poultry processors distributing U.S. Department of Agriculture-certified food. Financing is available for Kentucky companies engaging in food distribution, transportation, manufacturing, processing, storage, aggregation, or wholesale food supply chain activities.
Loan Program Rewards Regenerative Agriculture, Sets Example for Other Lenders
A new loan program through a partnership between the Environmental Defense Fund and the Farmers Business Network focused on regenerative agriculture techniques is reporting impressive results from its pilot year. Regenerative Agricultural Financing rewards farmers who protect the topsoil and use fertilizers responsibly. Eighty-three percent of the farmers who completed it in 2022 did just that, earning back 0.5 percent of their interest rate.
Rural Action to Open Regional Food Business Center With $40M Investment
Rural Action has been selected to establish the Appalachia United States Department of Agriculture Regional Food Business Center, an initiative aimed at supporting the growth and sustainability of local food businesses across the Appalachian region. The center was created with over $40 million of funding from the USDA.
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