PORTLAND, Ore., Dec. 9, 2021 /PRNewswire-PRWeb/ -- After a successful soft launch this summer, Steward is expanding its new evergreen lending vehicle—Steward Regenerative Capital—to provide more farms and food producers with swift access to loan financing. The original funding goal of $3M was quickly surpassed in its first three months, leading Steward to increase the goal to $6M and open participation to a broader community of mission-driven lenders.
Unlike Steward lending campaigns that support specific farm projects, Steward Regenerative Capital is spread across multiple farms, funding immediate production needs and time-sensitive opportunities when they arise, such as repairing a tractor, purchasing equipment at auction, or acquiring farmland within a short timeframe.
"As Steward began lending to regenerative farms, we learned that farmers not only needed longer-term financing, but also quick access to short-term loans to take advantage of immediate opportunities. This has enabled farm businesses to move with confidence and compete in the fast-moving agricultural and real estate markets, such as helping a farm in Vermont [Studio Hill] purchase a critical piece of adjacent pasture land in less than 30 days. That same need has also enabled us to offer a short-term, high-yield loan product to lenders on our platform, nicely matching supply and demand", shared Steward's founder and CEO, Dan Miller.
The secured, semi-liquid lending vehicle is another way impact lenders can put their resources to work to propel the regenerative agriculture movement forward. Appropriate individuals, family offices, or high-net-worth funders that lend money to Steward Regenerative Capital on a short, 9-month term, receive monthly repayments with a fixed interest rate (currently 4.5% APR). Steward then makes bridge loans to growers and producers with urgent financial needs.
In just the past few months, Steward Regenerative Capital has already funded eight projects, including expanding a 4th generation sheep farm and agritourism site in Vermont and outfitting a sustainable seafood marketplace in New Hampshire.
About Steward
Founded in 2017, Steward is transforming agriculture by equipping human-scale, regenerative farms with the capital they need to grow. By providing access to flexible financing and expert support services, Steward partners with agricultural businesses to scale their operations, improve the health of their lands, and bolster local food systems. To date, Steward has provided over $8M in farm loans to fund 62 unique agricultural projects, backed by more than 1,300 participating lenders. Steward is proud to be a Certified B Corp. Learn more, seek capital, or lend support at gosteward.com
Media Contact
Stacia Kirby, Steward, 206-478-5841, [email protected]
SOURCE Steward
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