Performing Department
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Non Technical Summary
Beginning farmers need equity and equity-like capital to both secure traditional financing like loansand to grow value-added farm businesses. The problem is even more severe when farmers take overhigh- value, value-added farms or implement climate smart management practices or developclimate smart value-added products. This project proposes to increase capital, including equity,investment in beginning famer.. This will be done through a four-prong approach that cultivatesinvestor readiness, creates an equity investment network ready to review and fund packaged deals,improves beginning famer readiness for funding, and prepares fundable financial packages forvetting and funding consideration by an equity investor network. The outputs of this programinclude 70 farmers receiving farm financial training or coaching, 45 farmers receiving a completefinancial model, 40 famers receiving and fundable financial package, and 22 famers securingfunding. Of our famers reached a minimum of 15% will be socially disadvantaged. As a result over$16.5 million will be invested in beginning farmers, 70 farmers will have increased their knowledgeon farm financial management, and 22 farms will have increased their financial resilience.
Animal Health Component
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Research Effort Categories
Basic
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Applied
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Developmental
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Goals / Objectives
Long Term GoalThe long-term goal of this project is to nurture and increase equity investment in beginning farmers, particularly more complex, higher value projects. This will be done through a four-prong approach that cultivates investor readiness and creates an equity investment network that is ready to review and fund packaged deals, and prepares fundable farm financial packages for vetting and funding consideration by an equity investor network.ObjectivesThe objectives for this project are as follows:1) Cultivate investor readiness to fund beginning farmers2) Improve beginning farmer readiness for funding3) Create fundable beginning farm financial packages4) Align investor interest with fundable beginning farmers
Project Methods
Evaluation and Impact Metrics Collection - Implementation PlanOutcomes Collection PlanActivity # 1 - Design Program Specific Evaluation ToolsCompletion DateQ4 2024CollaboratorsFFI StaffHowQ4 2024 - Evaluation tools revised or createdFFI staff will revise tools and share with survey/evaluation design specialist for review.Q4 2024 - Tools finalized with survey/evaluation design specialist.Resources RequiredFFI metrics tool, FFI Staff Time, Survey/Evaluation Design ExpertWho ResponsibleFFI - Grants and Contracts CoordinatorOutputsPre and Post Evaluations, Annual Impact Survey (This set = FFI evaluation tools)Activity # 2 - Design Impact Survey ProcessCompletion DateQ4 2024CollaboratorsFFI StaffHow DesignQ4 2024 - Evaluation tools automated and integrated into ZohoQ4 2024 - Evaluation tools and surveys tested with beginning farmersResources Required- Staff and collaborator time.- Zoho developer- Beginning farmer time to test survey process19Who ResponsibleFFI - Grants and Contracts CoordinatorOutputsAutomated data collection process in Zoho, reporting process identified for aggregating data from ZohoActivity # 3 -ImplementationCompletion DateQ1 2025 - Q2 2027CollaboratorsFFIHow Recruit, DeliverFFI will use evaluation tools with all program participants.Resources RequiredCompleted survey tools, FFI Staff Time, and Beginning Farmer TimeWho ResponsibleFFI - Program Manager and Grants and Contracts CoordinatorOutputsMetrics data and summary reporting shared with collaborators