NASDA received a 3-year sub-award through the Council of Development Finance Agencies’ (CDFA) USDA 2501 Grant. CDFA and NASDA will use the funds to launch the Farmers & Ranchers Access to Capital Program. The goal of this program is to assist socially disadvantaged farmers and ranchers build successful operations by accessing sustainable business capital. The program will develop a culturally significant educational curriculum that teaches agricultural finance in relatable and meaningful terms.
The program will first deploy project response teams into target communities in the pilot states of New Mexico and Minnesota. Each response team will include CDFA and NASDA staff as well as development finance experts with experience in rural financing and familiarity with the economic challenges underserved communities face. The response teams will participate with hands-on technical assistance, workshops, and outreach in the two states. Secondly, the program will provide ongoing support to those communities to identify financing opportunities available and apply for applicable funding.