SARANAC LAKE, N.Y. — The Adirondack North Country Association (ANCA) and Foodshed Capital have announced the first loan provided through their new revolving loan fund for small-scale food producers.
Julian Mangano of Della Terra will use his SOIL Loan to develop a commercial composting operation that will divert organic waste from landfills, build soil health on his Castorland, N.Y. farm, and provide high-quality compost for local farmers and gardeners.
With a goal of supporting farms and food businesses who have difficulty accessing loans through conventional programs, ANCA, a regional economic development nonprofit serving businesses and communities in northern New York, partnered with Foodshed Capital, a certified Community Development Financial Institution that centers mission-driven lending and customized business support for underserved farmers, to develop the SOIL Loan Fund.
The first phase of the program launched in May 2022 with $100,000 from donations and a Generous Acts Fund grant from Adirondack Foundation.
“Julian’s business plan for a composting operation is very well thought out and comprehensive, and his project will fill a critical food system gap in Lewis County,” said ANCA Local Food System Director Adam Dewbury. “His goals are very much in line with those of the SOIL Loan Program as we aim to support projects that will help businesses grow and improve their financial stability. ANCA and Foodshed Capital are honored to provide Julian the financing support he needs to move his project forward.”
Read the full story in the Adirondack Almanack.