Selma Cafe has been lending to area farmers from its beginning in 2009 from the proceeds of our breakfast events. We launched the Farmer Fund in September 2010 at the Grange Kitchen & Bar to amplify the impact of this infrastructure building program. Memebers of the community pledged an initial $30,000 in loans that, by being matched with breakfast funds, will greatly expand our lending program to support area farmers.
In 2011 we began partnering with University Bank, who now originates and services each of the farmer loans. There are over $100,000 in available funds in the program as of this writing.
Currently, all lending is for the construction of hoop-houses. These structures are creating a vital new four-season agriculture economy in our region. As the program continues we will be making loans to farmers for other important infrastructure building projects as these needs are articulated.
The Farmer Fund offers members of the local community an opportunity to support local farmers by partnering with us on each of our projects. By working with others in our community that seek to lend money directed to farm infrastructure, we will be able to triple the impact breakfast funds currently generate. Lenders (you!) will be able to specify which projects get funded and will earn 2% interest. More importantly, you will know that a portion of your assets are working in the community to grow livelihoods as well as food.
For more information about the fund, email [email protected]
You can read more about the projects we have funded to date here.