The Maine Organic Farmers and Gardeners Association's Organic Farmer Loan Fund is intended particularly to help organic farmers working on establishing a credit history for their farms.
Loans, 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
- Bangor Savings Bank Personal Financial Statement Form
- 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 (820k PDF).
Please contact us to find out if we are currently accepting applications. Call 207-568-4142 or send an email to email@example.com.
If you are looking for a smaller loan for your farm or food business, the No Small Potatoes Investment Club makes loans of up to $5,000. Go to their website for more information: www.nosmallpotatoesinvestmentclub.com
Special thanks to NOFA-Vermont for pioneering the way!