LEDC collaborators recently met with USDA Under Secretary of Agriculture for Farm Production and Conservation Robert Bonnie (pictured, center).
The purpose of the encounter was to discuss the $2.5 million USDA Land, Capital and Market Access grant that LEDC, as a Community Development Financial Institution (CDFI), received in conjunction with The Good Acre and Land Stewardship Project. The goal is to make access to capital easier for Latino and BIPOC farmers and communities so they can purchase land, expand their businesses and generate greater access to local markets.
LEDC will directly administer $1.2M of these funds. The monies will be used to offer low-interest loans – down to 5% – for the purchase of lands for anyone who wants to work in agriculture. At the same time, LEDC will offer all the necessary technical assistance in order to achieve the best possible outcome.
