The Greater Berkshire Agriculture Fund (GBAF) will focus on small and midsized farms and farm-related businesses using sustainable or organic practices and serving markets within the Greater Berkshire area. We anticipate that a majority of applicant farms will be emerging businesses such as CSAs, diversified animal operations, or operations producing on-farm, value-added products. GBAF will also finance food processing and distribution businesses, and infrastructure projects essential to the success of local farms. Eligible businesses will use organic or other environmentally friendly production practices to reduce detrimental environmental impacts and steward resources for future generations. In partnership with area lenders, GBAF will focus on loans up to $75,000, with terms of 1-7 years.

Eligible Borrowers

Farms 

• Size of farm: annual gross revenue of $499,999 or less
• Ownership:  farm property must be owned or leased by the applicant; leases should be in effect for at least the payment period of the loan.  
• Preference will be given to family farms as defined by the USDA’s Economic Research Service (http://www.ers.usda.gov/Briefing/FarmStructure/glossary.htm#collapsed)
• Applicants must be engaged in cultivation of farm, forest or aquatic products or adding value to such products produced locally.
• Loans in size from $5,000  to $75,000

 Farm-related businesses involved in processing, storage or distribution of agricultural products are eligible if: 

• The business has less than 50 employees
• The source of the ingredients or materials from which the product is produced is primarily within the GBAF geographic eligibility area (although the points of sale are not required to be within this region)
• Businesses whose primary purpose is to process, add value to, store, or act as distributors for local agricultural products are eligible. For example: on-farm farm stands, cheese-makers, butcher shops, produce delivery companies and agricultural co-ops, ARE eligible when adding value. 
• Agricultural industry support services such as veterinarians, feed & fertilizer stores, and retail outlets are not eligible. 

This new program is under development; and we anticipate loans will be available in 2012. However, we are already working with farmers seeking loans through this program, and anticipate having an application available in late Fall of 2011.  Please contact us for assistance in developing your application for this program, or with any questions. 

If you are interested in receiving updates about the Greater Berkshire Agriculture Fund or would like more information, please contact Benneth Phelps at bphelps(at)thecarrotproject.org or 413.650.6151.