Cover photo for Santa Fe Farmers' Market Institute Micro-Loans

Santa Fe Farmers' Market Institute Micro-Loans

Santa Fe Farmers’ Market Institute

About

Farmers often have limited resources or lack access to capital, which can impact the sustainability of their business or their capacity to grow. Our Microloan Program awards low-interest flexible loans which funds projects that have a huge impact on many of our vendors’ businesses, as well as the quality and quantity of the products brought to the Market. The Microloan Program helps vendors defray seasonal operating expenses, improve infrastructure, extend the growing season, and much more. Access to capital ensures that farmers and ranchers can provide a constant and growing food supply to Santa Fe and the region.

Eligibility

Any current vendor at the Santa Fe Farmers’ Market may apply for a loan of $250 to $5000, and on a case-by-case basis up to $10,000. The interest rate is 6%, with 3% going to the bank to cover administrative costs and the remaining 3% goes back into the fund.

Terms

The terms and conditions are as follows:

  • $2,500 Short Term Temporary Emergency Loans to help alleviate cash flow challenges

  • Must be a vendor in good standing. Final decision to be made by the Microloan Committee.

  • No interest and no payments for 90 days (from time of funds disbursement)

  • Repayment within 1 year from time of funds disbursement

  • 6% interest, same as current loan, after 90 days

Similar Programs

Details

Organization

Santa Fe Farmers’ Market Institute (SFFMI)

Financial Instrument

Loan

Minimum Award Amount

January 1, 250

Maximum Award Amount

$10,000

Image Credit

Melissa Askew

Updated January 28, 2021

This information was gathered from public sources. Ambrook is not responsible for or able to affect the results of any financial programs listed, nor are they responsible for any incorrect information that is listed or is on the hyperlinked external sites. All information is subject to change.