This $490,510 federal Project Grant award was provided by the U.S. Department of Agriculture's (USDA) National Institute of Food and Agriculture (NIFA) under the Beginning Farmer and Rancher Development Program (CFDA 10.311). The grant aims to increase access to equity and equity-like capital for beginning farmers, particularly those who are socially disadvantaged, in order to help them secure traditional financing and grow value-added farm businesses. The four-pronged approach includes cultivating investor readiness, creating an equity investment network, improving farmer readiness for funding, and preparing fundable financial packages. Key outputs include providing financial training to 70 farmers, developing complete financial models for 45 farmers, and securing funding for 22 farmers, of which at least 15% will be socially disadvantaged. As a result, over $16.5 million in investment is expected to be directed towards beginning farmers to enhance their financial resilience. The grant will be implemented by the University of Wisconsin System, a prominent educational institution and 1862 Land Grant College, from September 2024 through September 2027.
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