CISA’s Emergency Farm Fund is open

Applications accepted until January 22, 2024. Application review will begin August 1st.

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CISA, in partnership with the Franklin County CDC, is offering zero-interest loans of up to $25,000 for Massachusetts farms in Franklin, Hampden, and Hampshire counties affected by fluctuating winter temperatures that killed peach buds in February, the deep freeze of May 18, and by excessive summer rainfall, including associated flooding and crop and soil damage. The Emergency Farm Fund (EFF) was established in 2011 in response to damage from Hurricane Irene suffered by farms in western Massachusetts.

The EFF is now accepting applications from eligible farms struggling to meet their immediate financial needs because of income, crop, or equipment loss due to these weather events. The goal of the fund is to respond to critical, time-sensitive needs by helping farms recover from their losses, continue farming, and/or build resilience for future extreme weather events.

Loan applications will be accepted from farms that:

• • Suffered financial losses of crops, buildings and/or equipment.
  • Operate in Franklin, Hampshire, and/or Hampden counties in Massachusetts.
  • Demonstrate need and capacity to repay the loan (a perfect credit history is not required)
  • To be considered for the full loan amount, farms should have gross annual sales for 2022 of approximately $20,000 or more.

If there are more applicants than funds available, priority will be given to farm businesses that:

• Experienced significant losses relative to business size
• Demonstrate high potential to benefit from the loan.
• Are owned by one or more limited resource producers; and/or
• Have not received an Emergency Farm Fund loan in the past five years.

Loan Amount and Rate:

Loans are available at a 0% interest rate for up to $25,000.

Loan Repayment:

Full repayment is expected within three years, with monthly payments beginning six months after the loan is closed; upon request, alternative repayment schedules may be considered.

Loan Application Review:

Applications will be reviewed and considered by the EFF Loan Review Committee beginning August 1st and continuing until January 22, 2024. Approved loans will be disbursed after completion of a signed loan agreement and promissory note.

About CISA’s Emergency Farm Fund Loan Committee:

The Loan Review Committee includes representatives from CISA, the Franklin County CDC/Pioneer Valley Grows Investment Fund, Equity Trust, the Massachusetts Department of Agricultural Resources, and farmers.

Please contact Stephen Taranto at CISA (stephen@buylocalfood.org or 413-665-7100, ext.17) with questions and for help determining if the Emergency Farm Fund is the best option for your business.