The Greater Berkshire Agriculture Fund (GBAF) is a partnership between The Carrot Project and Salisbury Bank and Trust Company. The fund focuses on small and midsized farms and food system businesses using sustainable or organic practices or products and serving markets within the Greater Berkshire area. Food system businesses primariliy engaged in processing, storage or distribution of agricultural products are encouraged to apply.

 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.

The interest rate is the same as the Salisbury Bank commercial lending rate, currently 4.99%, please contact us or check the Salisbury Bank 'Business Smart' online information for an updated rate. 

Application Deadline: Always the 1st of the month or the next business day if the 1st falls on a weekend or holiday. 

Download the Application (Word doc)

Download the Application (PDF)

You may submit your financials in any format, but if you would prefer a template for your financial statements, you may download one below.

Eligible Borrowers

Eligible borrowers are located within the four county region of Dutchess and 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 system businesses involved in processing, storage or distribution of agricultural products are eligible if: 

• 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 the GBAF four county area, although the points of sale are not required to be within this region.
• The business must have less than 50 employees.
• Agricultural industry support services such as veterinarians, feed & fertilizer stores, or general retail outlets, or any business whose product is not primarily local & agricultural are not eligible. 

Please contact us with any questions, or for assistance in developing your application for this program.

If you are interested in receiving updates about the Greater Berkshire Agriculture Fund or would like more information, please contact Benneth Phelps at bphelps(at)thecarrotproject.org or 413.650.6151.

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 historical and projected "Income Statements" and "Cash Flow Statements" as listed on The Carrot Project's loan application checklist. The monthly and yearly templates can be used together or independently; the monthly templates are most useful for looking at the past or future 12 months of your business in detail, while the yearly templates are most useful for summarizing your cash flow projections 2 and 3 years into the past or future. 

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)