With the cost of diesel fluctuating to highs and unpredictable, with tax burdens, challenges in obtaining and maintaining personnel, there are many support options to maintain, protect and grow your family farm. These are just a few.
If you need assistance in reviewing options and finding resources, please feel free to contact us.
Private funders seeking "alternative investments" often focus on specific aspects of a farm's operations, like rebuilding or rehabbing barns or facility, obtaining new equipment, livestock, farmland, or other components. This focused funding provides the investor with an opportunity to watch how their investment fuels and advances the agribusiness.
AcreTrader.com is an example platform which brings private investors together with local farms nationwide, and offers investment opportunities frequently at the 5-figure level.
Many young farmers who are starting their own families are seeking farms that they can acquire for their careers and multi-generational future. Find a young farmer who may want to partner and/or acquire, especially if you have a multi-generational farm, but your next generation is not continuing on.
The U.S. Department of Agriculture offers a range of low-interest loan based financing, which is typically backed by a percentage of private investment in partnership with specific banks and credit bureaus, and provides long-term options to pay back those loans.
Conservation Easements are a frequent option, though government agencies are frequently backlogged with long waiting lists, and so it is important to review all options available.
Some small family farms decide to file and operate as a tax exempt 501c3 nonprofit organization. This is a very viable option especially if the family farm is involved with community partnerships, such as educational field trips and study for school children or homeschool, research partnerships with area universities and colleges, participation as issue expert with civic groups and associations.
Farms can also preserve their farmland through Land Trusts, which are a similar nonprofit designation.
Though highly competitive, some foundations and local government agencies provide grants to support the livelihood and growth of farms and agribusiness.
If you have a historical farm (i.e., has been active for 50 years or more), and it has official status as a historical property (which is a very detail intensive and long-term process to acquire this designation), then additional grants and benefits may be available.
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