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CDFA Food and Agriculture Finance Update - May 10, 2022

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CDFA Food and Agriculture Finance Update
May 10, 2022
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CDFA Food & Agriculture Finance Update


Community Agriculture Alliance Provides Micro Loans for Colorado Ag Projects
Launched in 2019, Community Agriculture Alliance developed a micro loan program focused on providing direct financial support for local agriculture in the Yampa Valley of Colorado. Past loans have been utilized for local food producers to expand their businesses, and purchase fencing, irrigation, and season extension materials, as well as livestock and farm equipment.

The Regenerative Agriculture Finance Fund's Climate-Smart Rebate
A new loan product from Environmental Defense Fund (EDF) and Farmers Business Network seeks to motivate farmers, and lenders, to embrace climate-smart practices at scale. The pilot Regenerative Agriculture Finance Fund (RAFF) provides farmers who meet EDF's soil health and nitrogen efficiency standards a 0.5% discount on the base rate of a one-year line of credit.

Virginia Startup Working with Farmers to Increase Community Access to Local Food
GoGreen Farms and Greenhouses in Hampton Roads, Virginia, is a food hub and a farm agribusiness that partners with Virginia farmers to expand domestic markets. With funding from a SOIL Loan from CDFI Virginia Foodshed Capital, GoGreen has grown from 20 small-to-midsized farms in 2019 to nearly 40 now connected to wholesale food services, such as schools and institutional programs.

Local Meat Processing: Rebuild Begins in Lamoni, IA
Red Barn Meat Market combined federal funding and private investment for a new building project to expand and upgrade meat processing facilities in the small town of Lamoni, Iowa. The company will offer custom processing and retail meat offerings as well as a small meat locker to supply local, fresh products to their community.

Maine Ag Department Offers Loans for Underserved Groups, Beginning Farmers
The U.S. Department of Agriculture Maine Farm Service Agency (FSA) offers specially-targeted farm ownership and farm operating loans to underserved applicants and beginning farmers and ranchers. Direct loans are made to applicants by FSA. Guaranteed loans are made by lending institutions that arrange for FSA to guarantee the loan.

One Investment Firm's Bold Experiment to Finance the Future of American Farming
Farmland LP is a private investment firm that acquires conventional farmland and converts it to organic operations; they then lease land to farmers growing specialty crops such as berries and vegetables. The firm owns and manages 15,000 acres in Northern California, Washington State, and Oregon, with total assets valued at nearly $200 million. The fund is among a handful of U.S.-based firms that are using their financial and farming expertise to remake the American agricultural landscape.

General Mills Invests $15M in Funds for Minority and Female Entrepreneurs
General Mills has announced its venture capital arm, 301 INC, will invest a combined $15 million into two early-stage venture capital funds, Fearless Fund, and Supply Change Capital. These investments are part of General Mills' commitment to standing for good and promoting racial and gender equity in representation through economic opportunity for minority and female food entrepreneurs.

USDA, Colorado Sign First Cooperative Agreement for the Local Procurement of Food
The USDA has signed a cooperative agreement under the new Local Food Purchase Assistance Cooperative Agreement Program with the Colorado Department of Human Services. Through this program, USDA will award up to $400 million through non-competitive cooperative agreements with state and tribal governments to support local, regional, and underserved farmers and ranchers through the purchase of food produced within the state or 400 miles of delivery destination.

Upcoming Events
Intro Housing Finance WebCourse

Exploring Equitable Capital Technology (EC-Tech) in Development Finance
Tuesday, May 24, 2022 - 2:00 PM - 3:00 PM Eastern
CDFA is launching our new Equitable Capital Technology Initiative, which will combine technology solutions with training and technical assistance for lenders to help increase the flow of capital to minority entrepreneurs. Equitable capital technology (or EC-Tech) is emerging as a driver of unlocking capital for small and medium-sized businesses not fit for venture capital, nor large enough for a traditional bank loan.

CDFA Infrastructure Finance Learning Series: Building the Foundation for Infrastructure Projects
Tuesday, May 31, 2022 - 1:00 PM - 4:00 PM Eastern
Planning for the coming decades of infrastructure projects is essential for economic development professionals. Funding allocations will vary by community, and it is important for each place to begin preparing now so that funds can be deployed efficiently and managed effectively. This installment will help attendees set up their infrastructure projects to be competitive in securing funds and impactful for their community's future.

Food & Agriculture Finance News

How to Get a Farm Loan with No Down Payment
Nav | May. 9 | Access to Capital | Agriculture Finance | Revolving Loan Funds (RLFs) | U.S. Dept. of Agriculture (USDA)

AgLaunch to Facilitate Wells Fargo Grant for Technical Assistance of BIPOC Farmers in Mid-South Delta
AG WEB | May. 6 | Access to Capital | Disaster Recovery & Relief | Food Systems Finance | Foundations | Social Finance | COVID-19

USDA Accepts 2M Acres in Offers Through Conservation Reserve Program
USDA | May. 3 | Access to Capital | Agriculture Finance | Federal | Resiliency | U.S. Dept. of Agriculture (USDA)

Whole Cities Foundation Invests More Than $1M in Newark, NJ Initiatives to Advance Community Health
NewsDirect | May. 2 | Access to Capital | Food Systems Finance | Foundations

EPA Announces $40M from Infrastructure Law for Chesapeake Bay Restoration
US EPA | May. 2 | Access to Capital | Agriculture Finance | Federal | Infrastructure Finance | U.S. Environmental Protection Agency (EPA)

Updates to Recently Revamped Ohio Ag-LINK Program
The Highland County Press | May. 2 | Access to Capital | Agriculture Finance | Revolving Loan Funds (RLFs) | State Finance Program

White House Seeks $500M for Farmers to Grow More Wheat, Pay for Market Loans
Successful Farming | Apr. 28 | Access to Capital | Agriculture Finance | Federal | U.S. Dept. of Agriculture (USDA)

Delaware's First State Food System Program Accepting Applications
Delaware Department of Agriculture | Apr. 28 | Access to Capital | Food Systems Finance | State Finance Program

USDA Announces $2.6M Agreement to Support Local Farmers in Connecticut
CT News Junkie | Apr. 22 | Access to Capital | Disaster Recovery & Relief | Federal | Food Systems Finance | U.S. Dept. of Agriculture (USDA) | COVID-19

Food Hubs Win $300K to Help Access and Distribute Local Farm Product
VermonBiz | Apr. 21 | Access to Capital | Food Systems Finance | State Finance Program

Farm Operating Loans Grow Alongside Input Costs
Federal Reserve Bank of Kansas City | Apr. 21 | Access to Capital | Agriculture Finance | Revolving Loan Funds (RLFs)

Administration Awards $22.5M to Strengthen the Massachusetts Food Supply System
Revere Journal | Apr. 20 | Access to Capital | Disaster Recovery & Relief | Food Systems Finance | State Finance Program | COVID-19

Farm Credit of Central Florida Provides $30M Credit Facility to Kalera
ABL Advisor | Apr. 19 | Access to Capital | Food Systems Finance | Revolving Loan Funds (RLFs)

Nebraska Rural Development Tax Credit Increased
Unicameral Update | Apr. 14 | Agriculture Finance | Rural Development | State Finance Program | Tax Credits

Wolf Administration Investments Promote Agriculture Conservation in Pennsylvania's Chesapeake Bay Watershed
Pennsylvania Pressroom | Apr. 13 | Access to Capital | Agriculture Finance | Revolving Loan Funds (RLFs) | Resiliency | State Finance Program | Tax Credits

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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