Westminster, MD (PRWEB) July 10, 2013
MidAtlantic Farm Credit announces a new Farm Fresh Financing program that expands credit and financing options for new generation farmers and local food system organizations.
Were very happy to see the local food movement continue to grow and attract new growers in new areas, says Bob Frazee, MidAtlantic CEO. Our Farm Fresh Financing program is designed to help additional producers enter the market, as well as to help current producers grow their businesses to meet a growing demand.
Farm Fresh Financing is available to new generation farmers, a term that refers to producers who distribute their products through local food channels, and who practice sustainable farming methods, often on a small scale basis.
MidAtlantic Farm Credit, along with Fox Management Consulting at Temple University Fox School of Business, conducted market research in 2012 that showed that many new generation farmers and local food system organizations–such as community supported agriculture programs and marketing consortiums–do not utilize traditional financing options due to weak collateral, poor or inadequate credit histories, and/or cultural disinclinations to borrow money.
The Farm Fresh Financing program is designed to overcome the challenges that typically confront ‘new generation’ farmers, says Frazee. Farm Credit has a mission to serve all of agriculture, and were excited about the ways our new finance program can help this growing market.
The new program coordinates with the lender’s existing StartRight program which provides resources and financing for young, beginning, small and minority farmers.
Farmers with questions, or those that are interested in applying for a loan through MidAtlantic Farm Credit’s new Farm Fresh Financing program, can call 888.339.3334 or visit mafc.com.
About MidAtlantic Farm Credit
MidAtlantic Farm Credit is an agricultural lending cooperative owned by its memberborrowers.It provides farm loans for land, equipment, livestock and production; crop insurance; and rural home mortgages. The co-op has over 10,500 members and approximately $ 2.1 billion in loans outstanding. MidAtlantic has branches serving Delaware, Maryland, Pennsylvania, Virginia and West Virginia. It is part of the national Farm Credit System, a network of financial cooperatives established in 1916 to provide a dependable source of credit to farmers, ranchers, and rural America.
MidAtlantic Farm Credit Offers Special Financing Program for Local, Organic, and Sustainable Growers is a post from: Best Home Mortgage
