There are many farmers in Louisiana who have a marketable, delicious product, but are unable to afford the steps necessary to increase production and take their goods to local farmers' markets, grocery stores or restaurant kitchens. This program selects local farmers for a series of micro-loans that provide them financial support as well as marketing and business strategy. Partnerships with local MBA programs will offer each loan recipient an assigned team to aid and guide them as they take the steps necessary to increase their business and expand the distribution of their product. As the farmers increase their revenue, they will be able to repay their loan to the Foundation, ensuring the sustainability of the program.
The John Besh Foundation is assisting farmers to obtain small loans between $500 and $20,000 in order to expand their farming operations. These loans will be made by Hope Credit Union. Since the John Besh Foundation will provide the collateral for these loans, the applicant will not be required to provide any collateral.
To qualify for a loan:
- The farm must be located within 200 miles of New Orleans, LA.
- The applicant must demonstrate economic need and low family income.
- The loan cannot be used to repay other debt.
Applications can be mailed to
426 Gravier St, New Orleans, LA 70130