HVADC AGRIBUSINESS LOAN FUND

HVADC assists farmers and food producers access capital through ag loans to help them progress their businesses through its Agribusiness Loan Fund.

HVADC ayuda a los agricultores y productores de alimentos a acceder a capital a través de préstamos agrícolas para ayudarlos a progresar sus negocios a través de su Fondo de Préstamos para Agronegocios.

 

Specialized Lending for Agribusiness

The HVADC Agribusiness Loan Fund provides an alternative credit instrument for those businesses which may not be able to access sufficient capital through traditional institutions. When you work with the HVADC Agribusiness Loan Fund you will have the opportunity to work with a non-profit lender that understands the unique missions, finances, challenges and operations of agriculture-related businesses and shares your commitment to land stewardship and the growth of local agriculture. The HVADC Agribusiness Loan Fund provides both traditionally structured loans and ‘gap’ funding; for those who are seeking to expand their businesses, but may not have access to adequate traditional credit sources. 

Who Should Apply 
Businesses in agriculture or those using or selling agricultural products, such as local farms, value-add product manufacturing, food processors, food aggregators, food distributors, craft beverage producers, wineries, retail businesses, restaurants, and more, throughout the Hudson Valley region of New York State.

The HVADC Agribusiness Loan Fund is a particularly good source of alternative financing for those with businesses with revenues of more than $100,000, have had difficulty obtaining credit from traditional bank sources, and those who have been challenged by rising costs and high interest rates. We do serve businesses of all sizes though. Many agribusinesses have found our loans appealing alternatives to high-rate credit card and overdraft products, while others have used them to complement their long-term strategies.

While our review of applicants is routed in our principles as a CDFI, in general, the following types of businesses are our most successful borrowers with these attributes:
 

• Growth-oriented businesses looking to expand operations or expand value-added product offerings.

• Businesses owned by entrepreneurs of all backgrounds, particularly women, veterans, LGBTQ+, BIPOC and those from lower-income backgrounds or communities.

• Established small businesses seeking working capital.

• Businesses investing in equipment, inventory or technology upgrades.

• Businesses receiving grant funding on a reimbursement bases, but need bridge financing before funding is received.

How We Can Help
 

Loan Uses: Working capital, equipment purchase, real estate acquisition*, leasehold improvements, and business expansion

Loan Types: Traditional variable rate structured loans, short-term bridge/gap loans

Loan Sizes: $25,000 to $1,000,000+*

Loan Terms: One to ten years

Loan Rates: Generally Prime  -1.00% to Prime +2.75%. Please inquire for current rates based upon loan size, use and term. 

*If an application request does not meet the criteria for the HVADC Agribusiness Loan Fun, it may be referred to a partner organization that may be better able to assist you. 

HVADC is able to work with clients to complete their application, connect applicants with required resources or advisors to execute their projects, assist with business development consultation, solutions and more.
Eligible agribusinesses seeking capital for their next projects can reach out to HVADC Business Service Coordinator, Duane Stanton to learn more about the Agribusiness Loan Fund Program at 518-432-5360 Ext 402 or dstanton@hvadc.org

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