Farmers often have limited resources or lack access to capital, which can impact the sustainability of their business or their capacity to grow. Our Microloan Program awards low-interest flexible loans which funds projects that have a huge impact on many of our vendors’ businesses, as well as the quality and quantity of the products brought to the Market. The Microloan Program helps vendors defray seasonal operating expenses, improve infrastructure, extend the growing season, and much more. Access to capital ensures that farmers and ranchers can provide a constant and growing food supply to Santa Fe and the region.
Any current vendor at the Santa Fe Farmers’ Market may apply for a loan of $250 to $5000, and on a case-by-case basis up to $10,000. The interest rate is 6%, with 3% going to the bank to cover administrative costs and the remaining 3% goes back into the fund.
At the end of 2017, we began working with Guadalupe Credit Union, which offers more locations and a financial literacy program, to better serve our vendors
Since 2008, we’ve made 202 loans totaling $747,590.
The Institute is happy announce a new emergency fund loan program to provide much needed cash flow to market farmers.
The terms and conditions are as follows:
$2,500 Short Term Temporary Emergency Loans to help alleviate cash flow challenges
Must be a vendor in good standing. Final decision to be made by the Microloan Committee.
No interest and no payments for 90 days (from time of funds disbursement)
Repayment within 1 year from time of funds disbursement
Guadalupe Credit Union Financial Assistance – Guadalupe Credit Union is now offering an Emergency Relief Loans to help people cover lost income during this time. It would be based on approved credit and capacity to repay on your regular income. Applications can be taken thru their website. You don’t have to be a member to apply.
