California FarmLink is pleased to announce that it has been awarded a $2 million Wells Fargo Open for Business grant to help finance small farm and ranch businesses.
The grant will enable FarmLink to offer 0% interest loans for farmers and ranchers. It is focused on growers who are investing in their business success through FarmLink’s educational programs and one-on-one technical assistance to recover from the coronavirus pandemic.
Thanks to the Open for Business Fund, a roughly $420 million small business recovery effort, FarmLink has established its Farm Recovery and Resilience Fund to expand access to affordable business loans. With a focus on serving farmers of color, women farmers, and beginning farmers and ranchers, California FarmLink has also created two in-depth, peer-based business education courses, one in English and one in Spanish. The organization is currently recruiting participants for its Resiliencia y Prosperidad program, which will take place in Salinas starting in February.
“This grant enables FarmLink to help small business owners recover and emerge from the pandemic even stronger and more resilient. Wells Fargo has been a valued partner for nearly twenty years, supporting our mission to invest in the prosperity of farmers and ranchers,” said Reggie Knox, CEO of California FarmLink.
By focusing on lending, education, and access to land, FarmLink has created a comprehensive approach to support next-generation farmers and ranchers. Many of its programs are designed to serve Latina/o farmers, who are the fastest growing demographic among new growers entering California agriculture.
“We are thrilled to support California FarmLink and its Farm Recovery and Resilience Fund. Having access to trusted experts is critical for diverse farmers and ranchers facing financial hardships,” said Christina Pels-Martinez, region bank president, Wells Fargo. “This grant will help FarmLink continue its great work helping diverse farmers and beginning farmers to succeed in California agriculture.”
California FarmLink is a nonprofit organization investing in the prosperity of farmers and ranchers through education, loans, and access to land. FarmLink focuses on serving communities of color and beginning farmers and ranchers.
