FBN, a farmer-to-farmer network and marketplace for agricultural services, has announced the launch of its Regenerative Agriculture Financing (RAF) Land Loan pilot program. This initiative is supported by a $750,000 loan and grant from the Walton Family Foundation. The program aims to provide about 20 farmers with discounted interest rates on newly financed land for seven years. These discounts will be available to farmers who implement sustainable soil and water health practices, meeting criteria developed by Gradable and the Environmental Defense Fund.
Dan English, GM of FBN Financial, said, "This program is an innovative example of using agriculture finance to facilitate regenerative ag." He added that it creates a "win-win" by reducing costs for farmers while promoting effective land stewardship.
The RAF Land Loan offers loans for acquiring or refinancing farmland. Interest rate discounts are applied to those implementing specific environmental practices. FBN Finance manages loan administration, while Gradable oversees data collection and environmental reporting.
Moira Mcdonald from the Walton Family Foundation expressed support for the initiative, highlighting its role in protecting both people and nature amidst climate change challenges.
FBN plans to expand this program through additional funding opportunities in the future.
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