The Carrot Project and Salisbury Bank and Trust Company are pleased to announce loans made through the Greater Berkshire Agriculture Fund (GBAF) to two farms in the Hudson Valley, Ironwood Farm in Ghent, New York and Alewife Farm in Clinton Corners, New York.
“The Carrot Project is in the unique position of being able to provide financing to early-stage startup farm and food enterprises. We offer them business technical assistance services along with our lending program dedicated to agriculture and food. It’s specialized to help them succeed,” concluded Benneth Phelps, Loan and Outreach Coordinator for The Carrot Project.
Alewife Farm is owned and operated by Tyler Dennis, a first generation farmer. The farm is diverse in its production, growing more than 50 vegetable varieties in 2014, it’s first season of production. The farm operates on a 40-acre property in Clinton Corners, in Dutchess County, NY, producing organically raised vegetables, fruit, herbs, and honey for wholesale restaurant accounts. The loan proceeds were used to purchase the farm’s main tractor as well as field implements and irrigation equipment.
Tyler Dennis, Alewife Farm; Adam Higgins, Salisbury Bank.
Ironwood Farm is owned and operated by Jennifer Parker, Aliyah Brandt, and Lauren Jones. The farm is in its first season of operation, although the three owners have over 15 years combined farming experience. Their crops include organic vegetables, herbs, and rabbit, sold both locally and in the New York City area. The loan provided funds for the farm’s startup needs including working capital, a small greenhouse, a used truck, irrigation equipment, fencing, tools, cold storage, marketing supplies and livestock.
Benneth Phelps, The Carrot Project; Ironwood Farm; Adam Higgins, Salisbury Bank.
“Salisbury Bank is delighted to help both of these newly founded farms achieve their goals and improve their overall standing as they move towards the future,” said Dick Kelly, Executive Vice President and Chief Lending Officer. “This was a great opportunity to work with the Greater Berkshire Agriculture Fund again by financing two more deserving, local farms.”
The GBAF is a joint project of The Carrot Project and Salisbury Bank, and serves businesses located in the four-county region that includes Berkshire County, Massachusetts, Litchfield County, Connecticut and Columbia and Dutchess Counties in New York.
The GBAF is designed to help meet the growing demand for local food. GBAF loans can be used for working capital, capital needs such as equipment or buildings, operations, or other improvements. Financing and related business and financial technical assistance is available to farms and food enterprises using local ingredients.
For more information about the program, contact Martha Bryan at: firstname.lastname@example.org or 413.427.3472.
The Carrot Project (www.thecarrotproject.org) works at the forefront of change by helping to create a sustainable local farm and food economy. The Carrot Project (TCP) facilitates access to financing and business support so that today’s small farm and food businesses can grow into thriving, enduring enterprises. Making long-term investments in the building blocks of the food system provides healthful food for consumers, a replenished environment, and strengthened regional and local economies.
TCP works with family farms that use sustainable growing methods, and food system businesses that sell their products locally and regionally. The Carrot Project administers four regional loan funds, in Vermont, Maine, Massachusetts and the Greater Berkshires.
Salisbury Bank is a full-service community bank headquartered in Lakeville, Connecticut and presently operates full service branches in Canaan, Lakeville, Salisbury and Sharon, Connecticut; Great Barrington, Sheffield and South Egremont, Massachusetts; as well as Dover Plains and Millerton, New York. The Bank has been serving families and businesses for over 160 years and offers a full range of consumer and business banking products and services as well as trust and investment services.