Technical Assistance


CDFA Food and Agriculture Finance Update - May 9, 2023

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CDFA Food and Agriculture Finance Update
May 9, 2023
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CDFA Food & Agriculture Finance Update


CDFA Announces Third Grant Award from the W.K. Kellogg Foundation
With support from a third round of funding from the W.K. Kellogg Foundation, CDFA is continuing to advocate for Defining the Food System Asset Class by building on previous efforts to increase opportunities and leverage existing capital to support local and regional food systems. There is a significant opportunity for further investment in this space through formalized technical assistance, facilitated collaboration between food system practitioners and development finance agencies, and direct and indirect lending programs for food- and agriculture-related businesses and projects.

USDA Announces $420M for 12 Newly Created Regional Food Business Centers
The U.S. Department of Agriculture (USDA) announced the creation of 12 new USDA Regional Food Business Centers that will provide national coverage coordination, technical assistance, and capacity building to help farmers, ranchers, and other food businesses access new markets and navigate federal, state, and local resources. The USDA also announced a $420 million Resilient Food Systems Infrastructure Program (RFSI) to strengthen local food supply systems. 

Berkshire Agricultural Ventures Attempts to Ease New England Slaughterhouse Bottleneck
New York-based Berkshire Agricultural Ventures received a $630,000 grant from the U.S. Department of Agriculture through its Rural Development Meat and Poultry Intermediary Lending Program. Combined with $210,000 in donations from the community, the nonprofit will establish an $840,000 revolving loan fund intended to help meat processors in the Berkshire-Taconic foodshed absorb more deliveries from farms.

Join CDFA for Our Upcoming Intro Tax Increment Finance Course!
Register for CDFA's Intro Tax Increment Finance Course taking place on June 14-15 to learn the guiding principles and appropriate application of TIF. Our panel of expert speakers will discuss TIF deal-making and best practices highlighted by projects from around the country.

New York Creamery Receives $20M to Promote Regenerative Grass-Fed Organic Dairy
Maple Hill Creamery, America's original 100% grass-fed organic dairy company, announced finalization of $20 million in funding from the U.S. Department of Agriculture to grow markets for sustainable, regenerative, grass-fed organic dairy farming. The funding is part of the USDA's Partnerships for Climate-Smart Commodities program, supporting pilot projects that will help build and expand opportunities for consumers to purchase food grown in a climate-friendly way.

Florida's Feeding Tampa Bay will Expand Its Reach with NMTC
Florida Community Loan Fund has finalized closing on New Markets Tax Credit (NMTC) financing for Feeding Tampa Bay. FCLF provided $12 million in NMTC allocation for the new $63.5 million facility in Tampa which will help the organization meet its goal to end hunger in its service area.

USDA Funding Available for Meat and Poultry Processing for Underserved Producers and Tribal Communities
The U.S. Department of Agriculture (USDA) announced the availability of up to $125 million through two new programs, the Indigenous Animals Harvesting and Meat Processing Grant Program and the Local Meat Capacity Grant Program, that will create more options for meat and poultry farmers by investing in independent, local meat and poultry processing projects that increase competition and enhance the resiliency of the food supply chain.

Iowa Agriculture Consulting Company Awarded Loan Under SSBCI
Regenerative agriculture consulting company Continuum Ag was among three winners of a low-interest loan from the Iowa Economic Development Authority, part of the agency's State Small Business Credit Initiative (SSBCI). The business will receive a $250,000 loan, which Continuum Ag will use on development for the business's carbon intensity scoring software at Topsoil.ag, which helps farmers quantify their carbon footprint.

Chapul Opens $10M Series A to Leverage Insects for Soil Health and Reduced Food Waste
Diverting organics from landfills is the top actionable item to address climate change, but we lack scalable technologies to address the problem. Chapul Farms, designer of modular insect farms that turn organics waste into high-value animal feed and biofertilizer products, is set to embark on its next fundraising journey – a $10M Series A Reg D 506(c) set to open to accredited investors to address the problem at scale.

Upcoming Events
Intro Tax Increment Finance Course

CDFA // BNY Mellon Development Finance Webcast Series: Financing Charter Schools Through Bond Finance and P3
May 16, 2023 - 2:00 PM - 3:00 PM Eastern
During this installment of the CDFA // BNY Mellon Development Finance Webcast Series, presenters will share how charter schools are partnering with private entities to use bond finance and public-private partnership approaches to better provide the facilities needed to support learning outcomes.

2023 Equitable Lending Learning Series: Evaluating Risk
May 23, 2023 - 1:00 PM - 4:00 PM Eastern
During this event in the Equitable Lending Learning Series, speakers will provide an overview of the history of risk assessment in lending, discuss technical strategies and best practices for conducting more equitable evaluation of borrowers while maintaining sustainability, and share examples of how these approaches can be put into action.

Food & Agriculture Finance News

AIM for Climate Summit Opens with Global Food Systems Innovation
USDA | May. 8 | Access to Capital | Agriculture Finance | Food Systems Finance | Green Finance | U.S. Dept. of Agriculture (USDA) | Programs | Technology Financing

Vice President Harris Visits SSBCI-Funded Hydroponic Grower in Virginia
WRIC 8News | May. 5 | Access to Capital | Disaster Recovery & Relief | Food Systems Finance | State Small Business Credit Initiative (SSBCI) | U.S. Dept. of Treasury | COVID-19 | State Small Business Credit Initiative (SSBCI)

$15M in Loans for Meat and Poultry Processors Now Available in Minnesota
Minnesota Department of Agriculture | May. 4 | Access to Capital | Agriculture Finance | Revolving Loan Funds (RLFs) | State Finance Program

Governor Hochul Highlights Investments for Agriculture in New York's 2024 Budget
Morning AgClips | May. 3 | Access to Capital | Agriculture Finance | State Finance Program

Massachusetts Farms Receive Funding for New Equipment
WWLP.com | May. 1 | Agriculture Finance | Economic Development | Food Systems Finance | Economic Impact | Case Studies

Native American Farming Fund Making $11M in Grants Available
Bismarck Tribune | May. 1 | Access to Capital | Agriculture Finance | Economic Development | Resiliency | Tribal Finance | Revolving Loan Funds (RLFs)

USDA is Providing $130M in Assistance to Help Farmers Facing Financial Risk
USDA | May. 1 | Access to Capital | Agriculture Finance | U.S. Dept. of Agriculture (USDA)

Later-Stage Funding, M&A Remain Robust for U.S. Food Waste Mitigation Startups
AFN | Apr. 26 | Access to Capital | Food Systems Finance | Innovation Finance | Venture Capital

Proposals Now Being Accepted for Danone Institute North America Sustainable Food Systems Initiative
Cision | Apr. 24 | Access to Capital | Food Systems Finance | Foundations | Resiliency

USDA Invests Over $46M in Sustainable Agriculture Research and Education
USDA | Apr. 19 | Access to Capital | Agriculture Finance | Federal | Resiliency | U.S. Dept. of Agriculture (USDA)

Ag Grant will Allow Missoula, MT Distillery to Double Production
Montana Right Now | Apr. 19 | Access to Capital | Agriculture Finance | Food Systems Finance | State Finance Program

Advocates Offer $2.4M in Funding to Answer Organic Sector Challenges
The Packer | Apr. 18 | Access to Capital | Agriculture Finance | Resiliency

New Funding Opportunity to Support Emerging Farmers in Minnesota
MN Department of Agriculture | Apr. 17 | Access to Capital | Agriculture Finance | State Finance Program | U.S. Dept. of Agriculture (USDA)

FSA Chief Aims to Set Farm Loan Terms Banks Will Emulate
AgriPulse | Apr. 14 | Access to Capital | Agriculture Finance | Revolving Loan Funds (RLFs) | U.S. Dept. of Agriculture (USDA)

Shapiro Administration Invests $5M to Protect Pennsylvania Farmland From Development
Pennsylvania Pressroom | Apr. 14 | Access to Capital | Agriculture Finance | Incentives | Revolving Loan Funds (RLFs) | State Finance Program | Tax Credits

FARRMS Offers Opportunities in Sustainable Agriculture in North Dakota
Minot Daily News | Apr. 12 | Access to Capital | Agriculture Finance | Education | Rural Development

New Jersey EDA Board Approves Food Desert Relief Tax Credit Program Rules
NJEDA | Apr. 12 | Food Systems Finance | Tax Credits

CDFA Resources

Territorial and Farmers Financing Mechanisms
Access to Capital | Agriculture Finance | Food Systems Finance | Foundations | Resiliency | Rural Development | Social Finance
Forest and farm producer organizations (FFPOs) from Africa, Asia, and the Americas met with potential donors and allies in Washington D.C. to discuss advantages and opportunities to invest in and strengthen the capacities of indigenous, community, and farmers organizations. Key actions, recommendations, and next steps are captured in this report.

The Council of Development Finance Agencies (CDFA) is a national association dedicated to the advancement of development finance concerns and interests. CDFA is comprised of the nation's leading and most knowledgeable members of the development finance community representing public, private and non-profit entities alike. For more information, visit www.CDFA.net or email info@cdfa.net.

Council of Development Finance Agencies
100 E. Broad Street, Suite 1200
Columbus, OH 43215
(614) 705-1300


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