The Council of Development Finance Agencies’ (CDFA) 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 second 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 also created in response to the site visits. The toolkit will provide 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.
This year, development finance experts will focus on addressing the barriers identified during Year 1 and in 2025 will create customized development finance frameworks for both 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.
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.
Upcoming Events
CDFA will be hosting a Food Systems Finance Webinar Series in April, September and November. These free events will offer technical assistance providers and food and farm business owners the opportunity to learn more about various pathways available to farmers and ranchers as they seek additional access to capital.
Tues. April 30, 2024 @ 2pm: Financing Food Systems with Revolving Loan Funds
Wed. Sept. 24, 2024 @ 2pm: Driving Food Systems Investment with Tax Credits
Tues. Nov. 26, 2024 @ 2pm: Reframe, Build, Plan to Advance Food Systems Finance
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.
