The popularity of farming in recent years has increased, with more non-farmers seeking a way to buy their dream of the perfect farm. Whether the interest is in knowing the origin of the food we eat, raising a family in a wholesome hardworking atmosphere or returning to a more simple lifestyle, becoming a farmer is the “in” thing.

Just browse the most popular novels today and you will find that fiction with an agricultural theme or “farm lit” is one of the fastest-growing genres.

At the same time, those of us who work with in the agricultural industry wonder, “Who will be the next generation of farmers?” as each year, the statistics show that the average age for a farmer is 58 years old. Many farm families do not have a relative to continue farming the land or a succession plan in place. The solution seems to be to match those who desire to farm with access to capital and educational resources.

Where should aspiring farmers look for help in seeking financing? Loans and grants for farmers can be found through government sources, commercial lenders, crowdfunding and private investors. Very few grants are available for beginning farmers, but those who are serious about finding resources will look for cost-share opportunities and mini-grants from the U.S. Department of Agriculture agencies such as Natural Resource Conservation Service and USDA Farm Service Agency.

Often, programs exist to help farmers minimize risk of new crops or farming techniques as in the SARE (Sustainable Agriculture Research and Education program) Producer Grants or USDA Value-Added Producer Grants.

Commercial lenders such as banks and agricultural lenders such as Farm Credit often offer lines of credit for farmers and beginning farmer loan programs. Having good established credit is important when seeking loans of this type, as in any new business venture.

Before approaching commercial lenders, be sure to develop a solid business plan for your farm to show that you have considered the risks and opportunities of a farming venture. The Richmond County Cooperative Extension office can assist with the development of a business plan and provide other resources for beginning farmers.

Crowdfunding is using a social platform to entice people to invest small amounts in your business. For funding a farm, consider looking at Barnraiser, Kickstarter or Indiegogo and develop a compelling story that will be used to encourage investment in your dream. To be successful, you will have to be active in social media and creative enough to really sell your story to strangers and friends alike.

Slow Money is a movement that boasts $41 million in financing for farm and food entrepreneurs by private investors who ascribe to the Slow Money principles since its inception. The mission of Slow Money is to catalyze the flow of capital to local food systems, connecting investors to the places where they live and promoting new principles of fiduciary responsibility that “bring money back down to earth.”

Slow Money works through local networks and investment clubs and in North Carolina alone, Slow Money N.C. has made 80 loans totaling more than $720,000.

On Nov. 19, Woody Tasch, the founder of Slow Money, will be giving a workshop during a farm-to-table lunch called the Plowshare Luncheon. This special event will be held at the Pinehurst Fair Barn and is sponsored by Green Fields Sandhills, and would be a great opportunity to learn more about investing in farmers or becoming a recipient of a Slow Money loan.

For more information, visit http://plowshare.eventbrite.com or call the Richmond County Cooperative Extension at 910-997-8255.

Susan A. Kelly is executive director of the N.C. Cooperative Extension’s Richmond County Center.

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Susan A. Kelly

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