The Council of Development Finance Agencies’ and NASDA Foundation’s Socially Disadvantaged Farmers and Ranchers Access to Capital project, which is funded through a 3-year sub-award CDFA’s USDA 2501 Grant, assists socially disadvantaged farmers and ranchers build successful operations by accessing sustainable business capital. The program, now in its third year, will develop a culturally significant educational curriculum that teaches agricultural finance in relatable and meaningful terms.
The first year focused on the needs of the farmer during community workshops, farm tours and outreach. An Access to Capital Toolkit was created in response to those site visits. The toolkit provides technical assistance providers with various finance tools that can be leveraged to support underserved farmers and ranchers in accessing capital and expanding their business operations.
During the second year, development finance experts focused on addressing the barriers identified during Year 1 and created customized development finance frameworks and landscape maps for both pilot states. While these frameworks will be specific to Minnesota and New Mexico, information from the developed tools and resources will be applicable to all states and can support state departments of agriculture and economic development agencies who assist socially disadvantaged producers utilize affordable funding sources to expand business operations.
This year, the multi-layered technical assistance provided by the program will generate a network of stakeholders which will improve both the depth and breadth of the toolkit, ensuring that practical resources will exist to address topics from effective revolving loan fund management to leveraging bonds, tax increment and other forms of public and private capital, to encourage increased investment in socially disadvantaged farmers and ranchers.
For more information on project outcomes, visit CDFA-NASDA Foundation Socially Disadvantaged Farmers and Ranchers Access to Capital Program.
Access to Capital Toolkit
The Socially Disadvantaged Farmers & Ranchers Access to Capital Toolkit offers technical assistance providers who serve agricultural producer communities the opportunity to learn about the various finance tools that can be leveraged to support underserved farmers and ranchers in accessing capital and expanding their business operations. The 24-page toolkit outlines the many barriers socially disadvantaged farmers and ranchers face with finding affordable funding sources and provides detailed insight on how public-private partnerships between the USDA and community economic development organizations will best support their farm and ranch businesses.
Event Recordings
CDFA has hosted previous editions of its Food Systems Finance Webinar Series. Find those and other previous events in CDFA’s Online Resource Database.
Press Release
In February, CDFA and the NASDA Foundation published a joint press release announcing their partnership to create the CDFA-NASDA Foundation Socially Disadvantaged Farmers & Ranchers Access to Capital Program in response to the USDA Office of Partnerships and Public Engagement 2501 Grant Program.
