Bread & Butter Farm Case Study

A wide variety of financing options across the capital continuum are available to assist with the capital needs of Vermont’s food system businesses. However, navigating through the multitude of financing options can be overwhelming. In response to the need to help businesses better understand and navigate the variety of financing options available to them, the Financing Cross-Cutting Team of the Farm to Plate Network convened a series of panels that illuminated financing options that different food system businesses have used—High Mowing Organic Seeds and convertible debt, Bread & Butter Farm and a complex farmland deal, Liz Lovely and royalty financing, and Aqua Vitae and convertible debt. The second financing case study, Complex Dough, focuses on the land deal that enabled Bread & Butter Farm to purchase a conserved farm in Chittenden County. Nearly a dozen organizations and more than 25 individuals were involved, including a statewide land trust, a local land trust, two municipalities, an agricultural lender, a foundation, an angel investor, CSA members, and nonprofits. Although this particular patchwork quilt of financing sources was unique to Bread & Butter Farm, the fact is that new farm ventures in Vermont must often pull together a variety of financing sources, particularly if the purchase of valuable land is involved.
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