Microloan Application Process - VT and MA

Next Application Deadlines:

November 5, 2010, January 28, 2011, March 4, 2011, and November 4, 2011 

Thank you for your interest in the Strolling of the Heifers Microloan Fund and Programs, a partnership of Strolling of the Heifers and The Carrot Project with our lending partners Chittenden Bank and MassDevelopment. The mission of the fund is to address the difficulty that some New England farmers have in obtaining credit for projects that improve their operations and increase their income, as well as for emergency needs.

An important part of the application process is a business plan including detailed financials about your business. If preparing these items is new for you and you aren't sure how to get started, please go to Farmer Resources or contact Dorothy Suput at dsuput(at)thecarrotproject.org or                617-666-9637.

Eligibility

• Farms with 250 or fewer acres in active production
• Annual gross revenue of $250,000 or less
• Primary focus on farms that use sustainable or organic methods (or are moving toward them)
• Marketing at least a portion of their products to local markets.
• Acceptable purposes for the loans are: capital investments and other expenses that help improve efficiency or quality, or that expand production and sales; repairs necessary to maintain farm operations; short-term operating needs such as inventory, supplies, or labor; and emergency funds to deal with business interruptions due to fire, natural disasters, or other unforeseeable events.  

Application Packet for Vermont 

Application Packet for Massachusetts

If preparing a busines plan is new for you and you aren't sure how to get started, please go to Farmer Resources or contact Dorothy Suput office at dsuput(at)thecarrotproject.org or                617-666-9637.

Maine Farm Business Loan Fund

The Maine Farm Businss Loan Fund is a collaboration between Coastal Enterprises, Inc. in Maine, a statewide, nonprofit community development financial institution, and The Carrot Project. The Fund was established to meet the financing needs of small and midsized farms that use sustainable practices and serve local and regional markets in this growing sector of Maine’s economy. 

Qualified farm owners may borrow for working capital or other needs such as equipment, buildings, production or value-added enterprises.  Farmers may apply for loans up to $35,000, and supplemental amounts for larger projects may be available through other CEI loan programs.

To learn more about the Maine Farm Business Loan Fund and sustainable agriculture at CEI, contact Gray Harris at 207-882-7552 or go to www.ceimaine.org.

The Carrot Project's E-newsletter is sent out 3-4 times per year. If you would like to subscribe to the newsletter, please send a message with your name, town/city, state, and if you are a farmer to subscribe@thecarrotproject.org.