Practical Farmers of Iowa Savings Incentive Program

The Savings Incentive Program (SIP) is a two-year program supporting beginning farmers in creating successful farm businesses. Participants complete business-planning trainings (Farm Finance Fundamentals, Marketing Fundamentals), receive one-on-one mentor matching and networking, and save up to $4,000 in a farm savings account over two years. After completing the program, PFI matches the participant's savings dollar-for-dollar, up to $4,000, to use toward the purchase of a farm asset or assets.

• Be a farmer or farm operator with less than seven years of experience.

• Reside in Iowa or farm in Iowa or adjoining states.

• Be a member of Practical Farmers of Iowa.

A matched-savings program, not a grant: "Over the two-year program, you will save up to $4,000 in your farm savings account. After completing the program, Practical Farmers of Iowa will match your savings dollar for dollar, up to $4,000, to use toward the purchase of a farm asset or assets."

So the maximum cash benefit is $4,000, and you get it only by setting aside $4,000 of your own money first and completing the program requirements. The match is restricted to buying a farm asset.

What comes with it over the two years: two virtual trainings ("Farm Finance Fundamentals" and "Marketing Fundamentals") plus "personalized one-on-one training from the instructors" in Year 1; deeper business-plan and financial-statement work in Year 2; and "a personalized one-on-one mentor match" plus PFI networking.

Cost to participate: PFI membership is required for eligibility ("Be a member of Practical Farmers of Iowa"); PFI lists membership at $50 annually for an individual and $75 annually for a farm or household. No other fee, interest or repayment is published.

Applications for the class of 2028 run Aug. 10-Oct. 23, 2026.

Applications for the Class of 2028 will be accepted Aug. 10-Oct. 23, 2026, via the SIP application form at the top of https://practicalfarmers.org/programs/savings-incentive-program/. Contact PFI's Amber Mohr for more information.