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Next
LIVE Mentor Seminar
with MATTHEW LESKO
May 19, 2012 12 :00 pm EST
Next
LIVE Q&A Seminar
with MATTHEW LESKO
Saturday, May 19th, 12 pm To 1 pm
Low-Interest Loans & Grants For Farms,
Wineries and Forest Products
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Steve McHenry
Executive Director
Maryland Agriculture and Resource-Based
Industry Development Corporation
http://www.marbidco.org/home.html
Question and Answer Session
Includes Other Speakers
Loans Programs:
Maryland Resource-Based Industry Financing Fund Loan
Up to $200,000 at 3% to purchase land or capital equipment
http://www.marbidco.org/loans/mrbif.html
Rural Business Working Capital Loan Fund
Up to $75,000 at 4.75% for working capital and equipment purchases
http://www.marbidco.org/loans/rbwc.html
Forestry Equipment and Working Capital Loan Fund
Up to $150,000 for working capital and equipment purchases in the forest products business
Maryland Vineyard Planting Loan Fund
Up to $100,000 at 3% to plant vineyards or develop wineries
http://www.marbidco.org/loans/mvplf.html
Rural Business Energy Efficiency Improvement Loan Fund
Up to $15,000 at 4% to install equipment or make operational improvements that reduce energy consumption
http://www.marbidco.org/App%20Energy%20Eff%201.2010.pdf
Grant Programs:
Temporarily suspended, but hope to return soon
Maryland Value Added Producer Grants Program
Up to $25,000 matching grant for receiving a US Dept. of Agriculture Grant
http://www.rurdev.usda.gov/rbs/coops/vadg.htm
10% is reserved of Beginning Farmers and Socially Disadvantaged Farmers
http://www.marbidco.org/business/mvapg.html
Local Government Ag/RBI Project Cost Share Program
Up to $5,000 of cost share funding for local government economic development projects
http://www.marbidco.org/applications.html
Other Programs:
Farm Energy Audits
$300 for energy audit which will be refunded if you implement one or more of the recommendations made thru the energy audit. Incentives can pay for up to 50% of project costs.
http://www.marbidco.org/7%2017%2009%20energy%20audit%20flyer.pdf
Next Generation Farmland Acquisition Program
Assists young and beginning farmers with the purchase of farmland. Funds are not expected to be available until FY 2012
http://www.marbidco.org/about/about_us.html
Interview Highlights:
There is a similar agency like theirs in Pennsylvania.
Their money is for Ag and Resource-Based business.
Their mission is not to create jobs but to keep rural land to be used for agriculture and not for development.
Provides access to affordable capital.
They are publicly funded but operate like a private non-profit.
They offer mostly loan programs.
Budget problems have curtailed the grant programs but they are hoping to bring them back.
They work together with commercial lenders or other financial institutions.
They like to see the lender provide 10% of the investment needed.
The loan for wine growers has an option where you pay interest only for the first 3 years.
Special funds available for Ag-Cooperatives.
This video was made at Future Harvest SASA Annual Convention
http://www.futureharvestcasa.org/
ADDITIONAL SOURCES:
http://www.mredc.umd.edu/Documents/FinancingforAgricultureProducts_DRAFT.pdf
PODCASTS and VIDEOS:
http://www.mredc.umd.edu/rootdistance.html
BUSINESS PLANNING:
http://www.mredc.umd.edu/rootbeginning.html
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