Grants (National and Maine-specific):
Loans:
Listed below are some financing sources specifically for agricultural enterprises. However, before you can get financing for purchasing a farm or equipment, you must have a business plan. There are many resources to help you create a plan and analyze the viability of your business idea. Please refer to the business planning section for where to go for this kind of assistance.
One of the first places to try to obtain financing is in the community where the farm you are interested in is located. We have not listed local Maine banks here, but you can find almost all of them at www.mainebankers.com
The Maine Department of Agriculture, Food and Rural Resources (MDAFRR) offers a free brochure, “Finding Funding for Farming” that includes an overview of several local banks willing to consider agricultural loans as well as other funding resources.
A helpful tip from the National Young Farmers Coalition:
The Land Affordability Calculator was designed specifically for farmers seeking land. Use this tool to build financing scenarios for purchasing farmland. You can compare detailed estimates of total costs, monthly payments and affordability metrics, then download the results to have on hand when meeting with a loan officer.
Agricultural Development Grant
(Maine Dept. of Agriculture, Conservation and Forestry)
Funds market research, market promotion and new technology projects. These grants are given to projects that will help a number of businesses, rather than individual businesses.
http://www.maine.gov/agriculture
Agricultural Water Source Development Cost Share Program
(Maine Dept. of Agriculture, Conservation and Forestry)
Provides up to 75% of funding for irrigation ponds and wells for Maine farmers.
http://www.maine.gov/agriculture/mpd/business/index.html
Farms for the Future
(Maine Dept. of Agriculture, Conservation and Forestry)
The Maine Farms for the Future Program (FFF) is a competitive grant program that provides selected farms with business planning assistance and investment support.
http://www.maine.gov
National Young Farmers Coalition
In the fall of 2017, NYFC launched Finding Farmland, a website designed to help beginning farmers and ranchers across the country make informed financial decisions when seeking and purchasing land.
Sustainable Agriculture Research and Education
Includes information on sustainable agriculture grants, project reports and publications as well as information for consumers and educators.
https://www.northeastsare.org/Grants
The northeast SARE program is hosted by UVM at: http://www.uvm.edu/~nesare/
Farm Financing:
Coastal Enterprises, Inc. (CEI)
CEI provides business loans to farmers. These are generally loans to cover equipment purchases, working capital, or other direct business needs.
Farm Credit East
Offers a variety of services including loans, appraisals, insurance, financial and tax services. Extensive site has information on starting a farm enterprise, obtaining financing and other publications.
Finance Authority of Maine
Offers agricultural marketing loan fund, linked investment program for agriculture, nutrient management loan program, potato marketing improvement fund loans for agricultural businesses.
Grants and Loans for Agriculture (Maine Dept. of Agriculture)
The Department has a number of grant and loan programs available to agricultural producers and food processors. Please see the listing below and contact the individual involved for further information.
Fund a FARMER.org
The Fund-a-Farmer Project, a project of Food Animal Concerns Trust, awards grants and facilitates peer-to-peer farmer education to increase the number of animals that are raised humanely. Together with our farmer partners, we are leading our country back to a food system that is both financially and ecologically sustainable.
http://www.fundafarmer.org/
Maine Farm Service Agency (FSA)
Provides links to United States FSA loan programs, as well as Maine-specific FSA information.
Farm Service Agency Loans: The Ins and Outs of Growing a Farm with Federal Loans
Maine Harvest Federal Credit Union
Maine Harvest Federal Credit Union is the only fully-regulated financial institution focused on growing a healthy, local food system through government-guaranteed deposits.
Women, Work and Community
Offers business and financial planning training as well as micro-loan programs.
http://www.womenworkandcommunity.org/
Kiva
Kiva is a 501(c)3 U.S. nonprofit fueled by passionate people. Founded in 2005, and based in San Francisco, with offices in Nairobi and staff around the globe
Dirt Capital
Dirt Capital Partners invests in farmland in partnership with farmers throughout the Northeast United States, promoting sustainable farmers’ land access and security.