The Adirondack North Country Association (ANCA) has awarded a zero-interest loan to a farm in New York through its SOIL Loan Fund. Tucker's Black Angus Ranch in Brushton, N.Y. received this loan to support their long-term growth and stability.
ANCA partnered with Foodshed Capital, a certified Community Development Financial Institution, to provide these loans. Tucker's Black Angus Ranch obtained an $8,000 loan to buy three retail freezers.
The loans aim to help farmers streamline their processes and expand their retail opportunities. ANCA established the SOIL Loan Fund in May 2022 to address the challenges faced by small-scale, women-owned, and minority-owned farm businesses in accessing capital.
The fund has awarded a total of five loans for small farm projects. The loans are made possible through funding support from donors and lending assistance from Foodshed Capital.
Tucker's Black Angus Ranch is a veteran-owned family farm that produces high-quality meats using sustainable farming practices. Their loan will allow them to market more of their sustainably produced meats to their local community.
Funding for the loan program comes from private donations and grants from several organizations. ANCA encourages farmers and local food entrepreneurs to contact them for more information about the SOIL Loan Fund.
ANCA is an independent, nonprofit corporation that focuses on building prosperity across northern New York through various initiatives. Foodshed Capital is a certified Community Development Financial Institution that provides mission-driven lending and business support to regenerative farmers and food entrepreneurs.