Delaware Launches Agricultural Financing Program

Delaware farmers and agricultural businesses now have access to a new financing program designed to help them start or grow their operations.

The Delaware Agricultural Investment Fund (DAIF) is a $20 million revolving loan fund that will provide low-interest loans to farmers and agricultural businesses for a variety of purposes, including:

• Purchasing land and equipment
• Expanding existing operations
• Developing new products and markets

The DAIF is a partnership between the Delaware Department of Agriculture and the Delaware Economic Development Office. The program is funded by a grant from the USDA Farm Service Agency.

Loans from the DAIF will be available in amounts up to $500,000. The interest rate on loans will be 3%, and the term of loans will be up to 10 years.

To be eligible for a loan from the DAIF, applicants must be farmers or agricultural businesses that are located in Delaware. Applicants must also be able to demonstrate that they have a sound business plan and the ability to repay the loan.

The DAIF is a valuable new resource for Delaware farmers and agricultural businesses. The program will provide access to affordable financing that can help farmers and businesses start or grow their operations. The DAIF is expected to create jobs and boost the Delaware economy.

For more information about the DAIF, please contact the Delaware Department of Agriculture at 302-698-4500.