FOODSHED INVESTORS
  • Re-Plant Texas
    • Producer Needs Survey
    • Direct Loans To Producers
  • Advisory
    • Funding Readiness
    • Virtual Biz Partner
    • Farmer Advisory
    • Innovation Center
    • Request Consult
  • Get Funding
    • Farmer Funding
    • Apply For Funding
  • Invest
    • Everyone
    • Accredited
    • Syndication
    • Register
  • Offices
    • Austin - HQ
  • Portfolio
  • About
    • Who We Are
    • Newsletters
    • Events
    • Blog
    • FAQ
    • Experts
    • Sponsor FI
    • Testimonials

Case Study: Cold Spring Farm

5/2/2018

 
Picture
Cold Spring Farm is a small diversified fruit and vegetable operation in the Dallas area of Weatherford.

AFI's EQIP pre-funding program allowed Cold Spring to utilize the EQIP program without constraining their cashflow.
High Tunnels and Cold Springs: AFI makes accessing High Tunnels a little easier with the EQIP High Tunnel Program

There are some pretty compelling reasons to farm: the chance to work outdoors, growing food that you love and share, and the fulfillment that comes with being a business owner. It’s easy to forget, though, just how much effort goes into growing good, sustainable food. Strolling through the produce department, picking out tomatoes at the Farmers’ Market, or even having fresh food delivered to your door...  ​one can lose track of the risk and challenges that family farms face every day.

Back in the spring of 2017, Beverly Thomas of Cold Springs Farm in Weatherford, TX contacted us to find out more about what it is we actually do here at Austin Foodshed Investors. We came to find that Beverly was interested in building a new high tunnel (which is another way to say big ol’ greenhouse). “Having a high tunnel means we can start crops earlier, raise crops year round, and sell really unique, high quality products. It keeps our customers engaged with us as a business.”

High tunnels happen to be expensive. Beverly was looking into a program the Natural Resource Conservation Service (NRCS) manages called the Environmental Quality Incentives Program (EQIP). The EQIP program helps farmers improve agricultural operations while implementing and improving conservation practices. EQIP has a suite of infrastructure development offerings for farmers including everything from rainwater collection, to solar power, and even maple syrup evaporators. Additionally, the EQIP High Tunnel Program will reimburse farmers for a considerable percentage of the cost of materials purchased for high tunnels.  This was good news for Beverly, who, by working with her NRCS agent at her local extension office, found she qualified for funding.
 
One challenge of the EQIP program is that funding is distributed through reimbursement. This means that farmers pay for the high tunnel materials out of pocket, and are reimbursed only after they are constructed, inspected, and approved. This makes perfect sense from a program accountability perspective but can be challenging for small and medium scale growers.
​
Beverly told us, “Applying and qualifying for EQIP through NRCS was easy and straight forward. It helped that I have experience building high tunnels, so I knew I could build the thing. But, I knew I’d have difficulty fronting all the money for this, so when I heard about AFI I got in touch with them to see how they could help out.”
 
AFI stepped in by offering Beverly a bridge loan to cover the up-front cost of the high tunnel. “This helped out tremendously and allowed me to get my high tunnels in and installed with very little out of pocket costs.” As an angel investor group, AFI is able to make these loans happen quickly, which provides flexibility to farmers to project manage more effectively.
 
“AFI is really excited about the EQIP program, which is such a boon to growers. We want this program to positively impact as many sustainable farmers and ranchers as would like to utilize it in Texas. So, if we can make EQIP easier, less risky, and more accessible to the growers we work with, then that’s what we’ll do,” Jarred Maxwell Co-Founder and Partner at AFI said. He added, “Ultimately, we’re here to support and help create resilient local food businesses in Central Texas.”
 
If you’d like more information on how to partner with AFI and the EQIP High Tunnel program,  feel free to contact us.

Comments are closed.
    Picture
    INSIGHTS
    "Insights" is our blog of case studies, newsletters, podcasts, videos, tips & tools, research, and more at the intersection of food, finance, and social good.
    Newsletter Sign Up

    Categories

    All
    Austin Scene
    Case Studies
    Food Systems
    Funding
    Industry News: F&B / Ag
    Investables Beyond FI
    Investing
    News From FI
    Portfolio News
    Research & Publications
    Sustainability
    The FI Podcast
    Tips & Tools
    Videos

    Archives

    February 2020
    September 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    January 2018
    October 2017
    July 2017
    June 2017
    May 2017
    April 2017
    February 2017
    January 2017
    December 2016
    October 2016
    September 2016
    August 2016
    July 2016
    June 2016
    May 2016
    April 2016
    February 2016
    January 2016
    December 2015
    November 2015
    October 2015
    September 2015
    August 2015
    June 2015
    May 2015
    April 2015
    March 2015
    February 2015
    January 2015
    December 2014
    November 2014
    October 2014
    September 2014
    August 2014
    July 2014
    June 2014
    February 2014
    January 2014
    October 2013
    September 2013
    May 2013
    December 2012
    October 2012
    March 2012
    September 2011
    August 2011

    RSS Feed

Engage
​​  Sign Up for Newsletter 
Request Advisory Services
  Apply for Funding 
  Register as Investor
​  Register as Expert
​  Syndicate Deals with FI
​  Sponsor FI
  Become Community Supporter
  Read our Blog
  Find Local Foodshed Events
  Review Case Studies
  Listen to our Podcast
  Read News from FI
Advisory
Advisory Overview  
​Request Advisory Services
​  Register as Expert
  Review Case Studies
  Funding Readiness
  Virtual Business Partner
  Farmer / Rancher Advisory
 Innovation Center

Social Media
  Twitter
  Facebook
  LinkedIn
  YouTube
  Instagram
 Funding
Funding Overview 
Apply for Funding​
  Farmer / Rancher Funding​
 FI Direct Investments

Investing
Investing Overview
 Register as Investor
Everyone Network

  Accredited Network
​  Syndicate Deals with FI

Portfolio
About
About Us
​​FAQ
News From FI
Disclosure
Terms of Use
​Privacy Policy

​Offices
  Austin
 
Login


Copyright © 2019, Local Impact Investors, LLC d/b/a Foodshed Investors
  • Re-Plant Texas
    • Producer Needs Survey
    • Direct Loans To Producers
  • Advisory
    • Funding Readiness
    • Virtual Biz Partner
    • Farmer Advisory
    • Innovation Center
    • Request Consult
  • Get Funding
    • Farmer Funding
    • Apply For Funding
  • Invest
    • Everyone
    • Accredited
    • Syndication
    • Register
  • Offices
    • Austin - HQ
  • Portfolio
  • About
    • Who We Are
    • Newsletters
    • Events
    • Blog
    • FAQ
    • Experts
    • Sponsor FI
    • Testimonials