Accessing capital is difficult for farmers and ranchers. Additional barriers exist for women, veterans, Black, Indigenous, and People of Color (BIPOC) who have historically experienced limited access to agriculture programs and services. Tune in to the March 22nd installment of the CDFA Food Systems Finance Webinar Series to learn about strategies to expand access to capital for underserved farmers.

The Iowa Finance Authority offers a program to incentivize established farmers to assist beginning farmers in their endeavors, called the Beginning Farmer Tax Credit. Through this program, new farmers may buy used equipment, or rent and lease land, machinery, or buildings from veteran farmers who receive a variety of tax credit benefits depending on the type of lease agreement.

The U.S. Department of Agriculture (USDA) announced $130 million in supplemental American Rescue Plan Act funding for the Local Agriculture Market Program (LAMP) to promote competition and create more and better markets for local and regional food producers by expanding and strengthening opportunities to sell to institutions operated by local, tribal, and state governments.

U.S. Department of Agriculture (USDA) Secretary Tom Vilsack announced that USDA is making available up to $215 million in grants and other support to expand meat and poultry processing options, strengthen the food supply chain, and create jobs and economic opportunities in rural areas.

BlueHub Capital, a national nonprofit community development finance organization, is making a $13 million New Markets Tax Credit investment in the Atlanta Community Food Bank, which gives food and support to more than 700 nonprofits in 29 Georgia counties.

A targeted loan program is helping food businesses get off the ground successfully and sustainably during the Lexington Market redevelopment project in Baltimore, MD. Baltimore Community Lending (BCL), a CDFI that exclusively works in Baltimore City, is providing small business loans for the more than 40 vendors to cover equipment, inventory, salaries, and working capital to get started.

The Illinois Conservation Fund has kicked off the Working Farms Fund program to enable new and young farmers to secure farmland for local food production. The Fund acquires small and mid-sized local farms (20 to 500 acres) that are threatened by development and matches the land with farmers. The farmer gets a patient pathway to eventual ownership, while a conservation easement protects the land. A revolving loan fund then rolls the purchase dollars forward to the next farm.

With significant investments from the City, State, and private philanthropy, and the support of the Dorchester Bay Economic Development Corporation, this major real estate transaction in the heart of Dorchester will fuel the growth of an equitable food economy in Massachusetts and will support programming for women and BIPOC-owned food businesses.

Governor Phil Scott appointed a Commission on the Future of Vermont Agriculture to establish a $20 million Strategic Infrastructure Grant Program with $10 million dedicated to storage, distribution, and other infrastructure needed to increase producers' access to Vermont distribution networks and out-of-state markets, and $10 million directed toward investments in the meat processing and waste industry.

GreenStone Farm Credit Services has expanded their support for young, small, and beginning farmers with a new program. CultivateGrowth provides financing, education, mentorship, and funding to serve the needs of the agriculture community in Michigan and Wisconsin.

CDFA // BNY Mellon Development Finance Webcast Series: Capitalization Strategies & Funding from the American Rescue Plan
Tuesday, March 15, 2022 - 2:00 PM - 3:00 PM Eastern

CDFA Food Systems Finance Webinar Series: Cultivating Equitable Lending Models in Agriculture Finance
Tuesday, March 22, 2022 - 11:00 AM - 12:30 PM Eastern

>>> VIEW THE FOOD SYSTEMS RESOURCE CENTER   
>>> VIEW THE AGRICULTURE RESOURCE CENTER   

The Federal Reserve has created this book to bring together community and economic development researchers, practitioners, philanthropists, and others to showcase the great work happening across this country and to outline a framework for conducting community and economic development that, if applied, can help more communities achieve shared economic prosperity.

This is a USDA resource guide to help people in rural America start and grow businesses, create good-paying jobs in their communities and strengthen America's economy. The guide features information on how rural entrepreneurs can use USDA and other Federal programs to access financing and other assistance to help start and expand their businesses.

This report explores the concepts, practices, challenges, and promise of regional food systems, focusing on the Northeast U.S. as a laboratory for regional food systems thinking and action, but it also describes and gives examples of regional food systems development across the country. The arguments in favor of regional approaches and explorations apply to all regions and embracing them could not be more imperative to address contemporary conditions.

>>> SEARCH FOOD SYSTEMS RESOURCES
>>> SEARCH AGRICULTURE RESOURCES