Browse Ambrook’s collection of funding programs by The Carrot Project

To apply, potential applicants must first fill out the Loan Inquiry Form﻿﻿.

The application deadline is always the first of the month or the next business day if the first is a weekend or holiday.

Dorothy Suput

Jeff Cole

The Carrot Project’s loan programs are available for businesses in Massachusetts, Rhode Island, and Connecticut.

 

Capital or operating loans of $5,000-$50,000 are available to farm, forestry and fishery businesses, and to&#x2004;processing, distribution and storage enterprises that use any type of local agricultural product.

 

Loans are available for businesses that may not be able to obtain financing elsewhere, including startups and farms in the first few years of operation. Those who already have a business plan are ideally suited to apply. We offer guidance on when and how to apply for financing, as well as assistance with loan applications, and connection to lenders that lend up to $250,000.



The Carrot Project’s loan programs are available for businesses in Massachusetts, Rhode Island, and Connecticut.
 
Capital or operating loans of $5,000-$50,000 are available to farm, forestry and fishery businesses, and to processing, distribution and storage enterprises that use any type of local agricultural product.
 
Loans are available for businesses that may not be able to obtain financing elsewhere, including startups and farms in the first few years of operation. Those who already have a business plan are ideally suited to apply. We offer guidance on when and how to apply for financing, as well as assistance with loan applications, and connection to lenders that lend up to $250,000.

Eligible Borrowers

Farms: 
- Annual gross annual revenues of $499,999 or less.
- Applicants must be engaged in cultivation of farm, forest or aquatic products or adding value to such products.
- Farm property must be owned or leased by the applicant(s); leases should be in effect for at least the repayment period of the loan.

Food Enterprises: 
- Must be involved in processing, storage or distribution of agricultural products. Businesses whose primary purpose is to process, add value to, store, or act as distributors for local agricultural products are eligible. For example: agricultural co-ops, co-packers, food hubs, produce delivery companies, cheese makers, butcher shops and farm stands are eligible when distributing or adding value to local products.
- The sources of the ingredients or materials from which the product is produced are primarily within Massachusetts and/or nearby states, although the points of sale need not be within this region.
- The business must have less than 50 employees.
- Agricultural industry support services such as veterinarians, feed & fertilizer stores, general retail outlets, or any business whose product is not primarily local & agricultural are not eligible.

A payment that must be returned to the provider following specified terms of repayment and interest rate.

Loan

- Borrower’s Financial Glossary (Download .pdf)
- Yearly Financial Statements Template (Download .xlsx) 
- Monthly Financial Statements Template (Download .xlsx) 
- Sample Business Plan and Financial Statements (Download .pdf)

Local Food

Landscape

High Tunnel

Air Quality

Carbon Capture

Regenerative

Wildlife and Pollinator Habitat

Soil Health

Trade Relief

Farmers Market

Certified Organic

Certified Grassfed

Cover Crops

Reduced Tillage

Marketing

Certification

Facilities

Conservation

Research

Compliance

Loan Terms for MA
- Loans from $5,000 to $50,000 available
- The interest rate is approximately 6-7% (subject to change)
- Flexible loan terms from 1-7 years. There is no penalty for early payment.
- Funds may be used for operating or capital expenses. If a loan is used for fixed assets, inventory or receivables, the purchased items will be used as collateral to secure the loan.

Loan Terms for RI and CT
- Loans of up to $250,000 are available.
- The interest rate is approximately 6-7% (subject to change)
- Flexible loan terms from 1-7 years. There is no penalty for early payment.
- Funds may be used for operating or capital expenses. If a loan is used for fixed assets, inventory or receivables, the purchased items will be used as collateral to secure the loan.

This program is not currently open for application.

The Hudson Valley, Berkshire County & Western CT Loan Program (also known as the Greater Berkshire Agriculture Fund) is a partnership between The Carrot Project and Salisbury Bank and Trust Company. The program focuses on small and midsized farms and food system enterprises using sustainable or organic practices or products and located within the four county region of Dutchess, NY, Columbia, NY, Litchfield, CT, and Berkshire, MA﻿. Food enterprises primarily engaged in ﻿processing, storage or distribution of agricultural products﻿ are encouraged to apply.



Eligible Borrowers: 

Eligible borrowers are located within the four county region of Dutchess, NY, Columbia, NY, Berkshire, MA, and Litchfield, CT.

Farms:
- Annual gross revenue of $499,999 or less
- Applicants must be engaged in cultivation of farm, forest or aquatic products or adding value to such products produced locally
- The farm property may be owned or leased by the applicant but written leases should be in effect for at least the payment period of the loan.

Food Enterprises:
- Must be involved in processing, storage or distribution of agricultural products. Businesses whose primary purpose is to process, add value to, store, or act as distributors for local agricultural products are eligible. For example: agricultural co-ops, co-packers, food hubs, produce delivery companies, cheese makers, butcher shops and farm stands ARE eligible when distributing or adding value to local products.
- The sources of the ingredients or materials from which the product must be produced primarily within the four county area, although the points of sale need not be within this region.
- The business must have less than 50 employees.
- Agricultural industry support services such as veterinarians, feed & fertilizer stores, general retail outlets, or any business whose product is not primarily local & agricultural are not eligible. 

Loan Terms
- Loan amounts available from $5,000 to $75,000
- The interest is currently 4.99% 
- Flexible loan terms from 1-7 years. There is no penalty for early payment
- Funds may be used for operating or capital expenses


List of The Carrot Project Funding Opportunities