NM Healthy Soil is offering financial resources in the form of low interest loans to farmers and ranchers who receive Healthy Soil Program grants from the New Mexico Department of Agriculture (NMDA):

NMDA’s Healthy Soil Program grant funds are not paid up front. Grantees must purchase approved project items first, then seek reimbursement by invoicing and providing related receipts through their project sponsor. NMDA encourages grantees to invoice early and often so they can be reimbursed frequently throughout the grant term.

New Mexico Department of Agriculture

With bridge funding through NM Healthy Soil grantees don’t have to go out of pocket to start their healthy soil project. Once the grant award dollars are received they pay off their bridge loan in a seamless transaction.

NMDA’s Healthy Soil Program is accepting applications once a year, typically in late spring. Individuals, businesses, and nonprofits directly engaged in farming, ranching, and other forms of land management are eligible to participate. Visit the Healthy Soil Program website for more information and to apply.

Instead of conventional credit metrics, NM Healthy Soil in partnership with Nusenda Credit Union is using a relationship based lending model to qualify these low-interest bridge loans:

Nusenda Credit Union’s Co-op Capital is a relationship-based, micro-lending program that was created as a solution to financially empower individuals who might not qualify for traditional lending opportunities, and spur economic development. The Co-op Capital program flips the traditional lending model and bases lending on trusted relationships between partner organizations – such as nonprofits, community organizations, and educational institutions – and individuals in the communities they serve.

Nusenda Credit Union

By providing this bridge funding, NM Healthy Soil aims to strengthen New Mexico agriculture, expand diversity within farming, and increase participation from young and beginning farmers and ranchers.