Vermont Farm Fund initiates loans for farms impacted by Hurricane Irene
Back in February 2011, shortly after the fire at our farm that took our barn, and after receiving so many donations from our community to help us get back on our feet, we decided we wanted to eventually pay the donations forward somehow. With the help of an advisory committee, and the partnership of the Center for an Agricultural Economy the non profit Vermont Farm Fund was created with the intent that the money that was so generously given to us could eventually circulate again to support other sustainable VT farms.
When Tropical Storm came through at the end of August, impacting so many Vermont farmers, it was clear that the Vermont Farm Fund could play an important role. Though we are still recovering financially from the fire, we paid forward $40,000 of the donations we received into the fund to enable us to start giving loans to farmers in crisis. Since launching this new campaign, more donations to the fund have come in from individual donors, classrooms of school children, and other non profits like the Waterwheel Foundation who generously donated $50,000. Within 3 weeks, the Vermont Farm Fund had began awarding 0% interest loans of $5000 or $10,000 to farmers who sustained damage from Hurricane Irene.
Why is VFF giving loans rather than grants?
Businesses in crisis need fast access to money. Whether it is a grant or a loan with easy terms is less important than how long it takes to get the money, how burdensome the application process is, etc. Disasters are part of farming. Fires, floods, heavy snows hailstorms and droughts are not going to go away. We intend to build VFF into a loan fund with significant assets so that it can better respond to future events. In order to do so we can't rely solely on the unending generosity of donors to the fund, the payback of previous loan recipients is an important element to keeping this money going.
Donate and spread the word!
The needs of farmers across the state is great. Many have lost their crops, their processing equipment, farm machinery, greenhouses, hay, even land as rivers changed course and scoured away entire acreage. If you are able, please make a tax deductible donation to the Vermont Farm Fund through the Center for an Agricultural Economy so that Vermont farmers can continue their work of bringing good local food to our tables. And please share this news widely!
Download the official Press Release
Click Here for a VFF Farmer Emergency Loan Application
Click here and Donate Now
The link brings you to the donate page for the Center of an Agricultural Economy. Please click the Donate Now button through Just Give, and designate your donation for the Vermont Farm Fund.
Mail your Donation:
Vermont Farm Fund
Center for an Agricultural Economy
PO Box 451
41 S. Main St.
Hardwick, VT 05843
