Project Overview
How can we get more capital deployed for beginning farmers?
This project allowed the Food Finance Institute (FFI) to work with sources
of farm financing to test whether a comprehensive financial training and TA
program can de-risk farm investments and attract more capital to beginning
farmers. FFI has already successfully used this TA model to help beginning
farmers raise money. This program provided beginning farmers financial
training and coaching to fix their business models, package a financial request,
raise money, and understand the financial benchmarks necessary to maintain
profitability. FFI deployed this program through virtual boot camps,
leveraging their Edible-Alpha® digital resources, and leading coaching cohort
groups. Two important sources of farm funding, Iroquois Valley Farmland REIT
(IVFR) and Farm Credit Council (FCC) were involved in the project. We also
worked with a socially disadvantaged farm incubator at the Black Oaks Center
(BOC). Our TA model was customized for each partners’ beginning farmer
network thus providing our financing partners a mechanism to lower risk of
beginning farm investments and make them more attractive for funding. Program outcomes include increased business knowledge, capital
infusion, secured land access, and improved loan loss performance. In addition,
we developed a needed and necessary financial projection tool that takes
into account conservation calculations for funds like Iroquois Valley Farmland
REIT (IVFR) who want to finance more beginning farms. Outcomes were measured
upon entry into the program and annually, in addition, a customized survey was developed to assess impact on farm
profitability and loan performance for our collaborating funds.
Number of Participants: 83
Promotional Materials
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Educational Materials
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Reports & Evaluations
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Describe any unexpected results of the project:
How would you improve the project if you were to do it again?
What were the keys to success for your participants?
Individual Stories / Examples of Success