Black Farmer Fund initiates $20 Million integrated capital fund for Black Farmers and Food Businesses in the Northeast

Black Farmer Fund is a community-led investment fund that invests in Black agricultural and food businesses in the Northeast to build an equitable food system.

NEW YORK , NEW YORK, USA, March 29, 2023/EINPresswire.com/ -- Black Farmer Fund solicits investors to build a $20 million community-led investment fund, "BFF Fund 2.0," to support Black agricultural and food businesses in the Northeast with capital through a combination of patient low-interest loans and grants.

In its pilot phase, Black Farmer Fund’s experienced team of agricultural and finance professionals oversubscribed a $1 Million pilot fund and supported eight thriving food businesses across New York State with $643,000. By centering social justice and community wealth building in our work, Black Farmer Fund is revolutionizing investment.

We are:

-Providing patient, integrated, non-extractive capital and technical assistance to Black Agricultural and Food Businesses such as Farmers, Herbalists, Chefs, Caterers, and more!

-Strengthening the regional food sovereignty movement. Of the eight investees, 95% of goods and services were sold locally, with $610,000 in revenue.

-Putting the decisions around who receives funding in the hands of experienced Black farmers and food systems entrepreneurs from across the Northeast and centering the voices of the community.

-Creating opportunities for Black communities to build wealth for themselves, as well as to strengthen the food system in the Northeast when they invest in the fund.

Investing has long been a space where few hold great power over many, and for every five dollars White farmers make, Black Farmers make one dollar. In the last 100 years, the number of Black farmers has decreased from 925,000 to 35,000 because of racist and discriminatory practices in the lending space and at large. By putting the decision-making power in the hands of the community and directing capital and resources, and community connections to Black food businesses, we are empowering our community to eat and live well while nourishing our planet.

“One of the ways that we create community wealth is by placing the power of how, and where, money gets distributed into the community of Black agricultural workers and owners themselves, so they are dictating where the money goes.” – Olivia Watkins, Co-Founder, Black Farmer Fund

“We're a powerful group of people; Let's think about what communal wealth and social capital means within our community because collectively if we put all our money together, we can change the system in our favor.” – Karen Washington (Mama K), Co-Founder, Black Farmer Fund

If you are interested in investing to build a thriving and racially-just Black agricultural ecosystem to build generational wealth and expand food access within the Black community, please review our website for more information.

This is not an offer. Offers are made only through the offering memorandum. In certain states, this offering is only open to accredited investors. Contact us at invest@blackfarmerfund.com to know if you’re in one of those states.

Black Farmer Fund

Black Farmer Fund invests in Black food systems in the Northeast by bringing capital, business support, and community connections to Black Farmers and Food Business owners. Black Farmer Fund provides patient, non-extractive capital and puts the decisions around who receives funding in the hands of experienced Black farmers and food systems entrepreneurs across the state. We aspire to see a thriving and racially-just Black agricultural ecosystem to build generational wealth and expand food education within the Black community.

To learn more about our work, go to our website blackfarmerfund.org or follow us on Instagram and Twitter at @blackfarmerfund or LinkedIn at Black Farmer Fund.

Onyx Ramírez
Senior Communications Manager
3477346819
onyx@blackfarmerfund.com

Olivia Watkins
Black Farmer Fund
‪347-201-2974‬
invest@blackfarmerfund.com