The Ohio Ecological Food and Farm Association (OEFFA) has partnered with a group of socially-motivated local investors who are making $500,000 available to launch a groundbreaking initiative: the OEFFA Investment Fund. The purpose of the fund is to promote sustainable agriculture in Ohio by making flexible and affordable capital available to OEFFA member farmers and farm-related businesses.
The traditional sources of farm and small business financing are often not receptive to small- and mid-sized sustainable and organic farmers and entrepreneurs who may lack personal capital, an equity base, sufficient credit, and the needed tools and training to convert farm production plans to the kinds of business plans that many financial institutions require. These challenges are compounded by the national trends of agricultural lending over the last few decades, and the turmoil in the financial industry more recently.
Despite the increasing demand for local, healthy food and the economic opportunities it creates, many business ideas are not pursued because of a lack of financing.… Continue readingRead More »