"One hears a lot about the rules of good husbandry; there is only one — leave the land far better than you found it."
- George Henderson, The Farming Ladder
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Organic Farmer Loan Fund
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The Maine Organic Farmers and Gardeners Association is accepting applications for the Spring 2010 funding cycle. This fund is intended particularly to help organic farmers working on establishing a credit history for their farms.
Funds, generally in amounts of $5,000 to $20,000, may be used for working capital or farm equipment, and will be available to: MOFGA-certified organic farmers; farmers transitioning to organic production; and current participants and graduates of MOFGA’s Journeyperson Program.
A complete application will consist of the following:
- Bangor Savings Bank Business Loan Application
- Bangor Savings Bank Customer Identification Policy (CIP) Forms (2) and Questionnaire for Business Entity
- A current balance sheet listing assets, liabilities and net worth
- A projected twelve-month cash flow of gross sales and expenses
- A projected budget for the upcoming production season of sales and categorized expenses for your business including a breakdown of expenses for the entire project being financed, anticipated additional sources of financing and the total project cost
- Trade Reference Sheet. If unavailable, please send three letters of reference.
- Copies of the last two years federal tax forms.
Download the application packet (840k PDF).
The application deadline for the next funding round is Friday, January 29, 2010.
More information and application forms also are available from the MOFGA office. Call 207-568-4142 or send an email to loanfund@mofga.org.
Special thanks to NOFA-Vermont for pioneering the way!
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