Farm Financial Templates: Free Downloads

We've developed these free templates specifically for small farm financial planning. Use them for general or annual financial planning, to accompany a business plan, or to meet the requirements for financial statements as listed on The Carrot Project's loan application checklist. The monthly templates are most useful for looking at 12 months of your business in detail, while the yearly templates are most useful for summarizing multiple years.

Yearly Financial Statements Template (Download .xlsx) 

Monthly Financial Statements Template (Download .xlsx) 

Sample Business Plan and Financial Statements (Download .pdf)

Borrower's Financial Glossary (Download .pdf)

External Resources

The following resources may help you find information to understand how to draft or improve your business plan and reach someone who can help you plan further.

We welcome feedback on this list as we try to make it as useful as possible. Please send any comments to info @ thecarrotproject.org.

Each listing is preceded by its state abbreviation or (M/S) for multi-state.

State Agricultural Business Guides

Many states have guides to running an agricultural business in that state that include information on state regulations, zoning, business and tax obligations, and resources for farmers.

(CT) Connecticut Agricultural Business Management Guide

(VT) A Legal Guide to the Business of Farming in Vermont

(NY) Guide to Farming in NYS

(MA) MA does not have an official state guide, but the New Entry Sustainable Farming Project has a Massachusetts Agricultural Resource Guide.

(ME) The Maine Department of Agriculture has a guide in their FAQ’s on Farming in Maine under the question: “I want to farm in Maine, but I don't know how to get started. HELP!”

Business Planning Courses

Both classroom and online courses exist to help you write a business plan. If there is no course in your area, there are online courses and templates you may use.

(M/S) The Northeast Beginning Farmers Project, from Cornell University’s Small Farms Program, hosts online courses each winter. Topics include: Financial Record Keeping, Writing a Marketing Plan, and Understanding the Business, Regulatory and Tax Implications of Farming.

(NY) Hawthorne Valley Farm offers the Hudson Valley Farm Beginnings Whole Farm Planning Course each winter which includes developing enterprise budgets, an income and expense plan, and a marketing and pricing strategy.

(MA) The MA Department of Agricultural Resources (MDAR) hosts three types of courses each winter for farmers at various stages of business planning.

(MA) The New Entry Sustainable Farming Project offers a Business Planning Course in which participants develop business plans and enterprise budgets, research their markets, evaluate the equipment & resources they need for their business, and develop crop plans.

(VT) The Vermont New Farmer Project through UVM Extension offers business planning courses geared toward business at various stages: startups, 1-5 years, and 5+ years. They also offer Ag Financial Management, and Whole Farm Planning for Women.

(VT) Women’s Agricultural Network through UVM Extension offers courses including  ‘Growing Places’ for those entering the farming world, and ‘Taking Stock’, a course for existing businesses to tune their operations.

(RI) Rhode Island’s Department of Environmental Management Division of Agriculture offers grants through its Farm Viability Program.

Business Planning Online Templates and Guides

(M/S) The Northeast Beginning Farmers Project, from Cornell University’s Small Farms Program offers worksheets and templates embedded in online planning lessons where you can save work in your own online files. Start with the New Farmer Hub.

(M/S) Start2Farm.gov offers a roundup of Business Planning and also a guide to Finding Financing

(M/S) The Field Guide to the New American Foodshed through USDA Risk Management Agency (RMA) offers Case Studies, One Page Business Plans, and a Decision Tree.

(M/S) AGPLAN: The Agricultural, Fisheries, and Small Business Planning website provides step-by-step guided instructions to help rural business owners develop a business plan free of charge, through the resources of the Center for Farm Financial Management at the University of Minnesota.

(M/S) Community Involved in Sustaining Agriculture (CISA) offers a wide range of programs, workshops, and resources to help local farmers build their businesses.

University Cooperative Extension Programs

University Cooperative Extension programs are great for assistance with technical information on various types of enterprises such as: dairy, animals, vegetables, fruits, and field crops.  They have information on pest and disease management, and enterprise (start-up) budgets for various types of enterprises. They may also have staff available for reviewing farm plans and budgets, depending on the resources available in that state.

(ME) UME Cooperative Extension’s Tori Jackson works primarily in Androscoggin and Sagadahoc Counties, but also provides business assistance statewide. A popular link is their Small Business Education website and the most popular resource is their virtual Small Business Library. Check out their workshops, classes, and events here.

(NH) University of New Hampshire’s Cooperative Extension provides various agricultural business management resources.

(VT) University of Vermont’s Cooperative Extension offers Ag & Farm Management Resources and a Risk Management Blog and general business management and planning tools.

(MA) University of Massachusetts’ Cooperative Extension offers a guide to its services.

(NY) Cornell University’s Small Farms Program offers Business Management Resources.

(CT) The University of Connecticut’s Cooperative Extension Service has a Farm Risk Management and Resource Library offers a variety of links that appeal to different types of farmers, and provides information for different skill levels.

Small Business Development Centers

(M/S) Small Business Development Centers are located around the country and provide business planning assistance to all types of small businesses. Their services are free or low cost. Even if an office does not have agricultural expertise, they can still be of assistance in helping to put your business plan and financials together.

(NH) New Hampshire Small Business Development Centers 

(MA) Massachusetts Small Business Development Center Network 

(VT) Vermont Small Business Development Center 

(CT) Connecticut Small Business Development Centers 

(NY) New York State Small Business Development Centers 

(ME) Maine Small Business Development Centers

(RI) Rhode Island Small Business Development Centers 

Business Planning Organizations & Consultants

These consultants can help you with planning for the startup, growth or transfer of your business.

(M/S) Land for Good helps with a variety of land transfer needs for farmers, including evaluating parcels for the suitability of a given farm, helping to package applications or responses to calls for proposals for land, and working with parties in the land transfer process to ensure a successful transition.

(NY) The Hudson Valley Economic Development Corporation offers detailed business planning services in the Hudson Valley, mostly in Columbia, Dutchess, Orange and Ulster Counties, but they may also work in nearby areas on a fee-for-service basis. They will work with any type of farm- or agriculture-related business, of any business size. Start by inquiring about their Incubator Without Walls program.

(M/S) Julia Shanks Food Consulting works with food and agricultural entrepreneurs to help them achieve and maintain financial sustainability. She offers both direct consulting services and a plethora of other tools for entrepeneurs, including video tutorials and downloadable templates. Businesses can access Julia Shanks’ consulting services by inquiring directly or through The Carrot Project’s business and financial technical assistance program.

Other Technical Assistance and Resources

(M/S) Beginning Farmer and Rancher offers comprehensive resources on Bookkeeping and Other Basics; Cash Flow Budgeting and Managing Debt; Small Farm and Ranch Income Taxes, and more from consultant Poppy Davis.

(M/S) Cabbige offers software to support small farms in managing inventory, setting prices, and generating harvest and sales reports. 

(M/S) The National Young Farmers Coalition's Finding Farmland Calculator can be used to build scenarios for purchasing farmland.  You can compare detailed estimates of total costs, monthly payments and affordability metrics, then download the results to have on hand when meeting with a loan officer.

(M/S) The Northeast Beginning Farmers Project, from Cornell University’s Small Farms Program hosts a map containing technical assistance providers from Maine through Maryland, broken out by provider category. Start with the ‘Business Planning’ category.

(M/S) The Legal Services Food Hub, a project of the Conservation Law Foundation, provides transactional documents related to farm and food enterprises, including incorporation papers, contracts, leases, sales/purchases, etc. 

(M/S) The Rural Advancement Foundation International has a Guide to Agricultural Credit.

(M/S) Community Involved in Sustaining Agriculture  provides technical assistance through special programs, workshops, one-on-one training sessions, farm visits, and referrals to farmers in Hampshire, Franklin and Hampden counties, MA. They offer many detailed resources applicable to a wider farmer audience including those on regulations: Food Safety and GAP, HACCP, and labor laws.

(M/S) NOFA / MOFGA, the Northeast Organic Farming Association and Maine Organic Farmers and Gardeners Association offer farmer support and extension services which vary by state.

(M/S) The Women’s Agricultural Network (WAgN) exists in many states and partners to offer courses, workshops and other educational and networking opportunities. WAgN CT, WAgN VT.

(VT) The Vermont New Farmer Project through UVM offers technical assistance and has a comprehensive Resource Guide.

(VT) Vermont Housing and Conservation Board (VHCB) offers a list of Farm Business Development Programs in Vermont.

Risk and Disaster Management

Farmers’ Legal Action Group provides disaster assistance resources including a Farmers' Guide to Disaster Assistance.

Farm-Risk-Plans.usda.gov The USDA Risk Management Agency’s website designed to walk small to medium scale farmers or ranchers through every step of business and risk management planning. It will support farmers and ranchers who are starting a new business, managing or growing an existing business, or planning for succession.

Farm Aid has a Family Farm Disaster Relief Fund, a Hotline, and a listing of Disaster Assistance.