A $20 million integrated capital fund,
BFF Fund 2.0 builds off of our Pilot Fund and provides Black agricultural and food businesses in the Northeast with gifts, patient debt, and technical assistance to optimize their growth potential and social impact.
The History
Over the last century, Black farmers have become severely underrepresented in farming and farm ownership.
Black farm ownership declined from 10 million acres in 1930 to 1.9 million in 2022.
Today, black farmers represent 1.34% of farmers in the United States, while the Black population across the country hovers around 13.4%.
Additionally, between 2009 and 2016, Black farmers received .07% less of the United States Department of Agriculture (“USDA”) lending than between 2001 and 2008.
Although this may not seem like a large drop in percentage, it indicates that Black farmers could have received $28 million more in financing than they did.
Across the Northeast,
the average income for Black farms is
$4,024 vs. $21,356 for all farms
The data demonstrates that the underrepresentation of black farmers is a direct result of documented historical discrimination THROUGH PRACTICES SUCH AS REDLINING, CREDIT DENIAL,
Supporting Black food actors with capital resources is essential to addressing these systemic barriers.
BFF Fund 2.0 is
Investment Approach
Community Wealth Building
Holistic Wealth: Define and measure success in terms of creative opportunity, quality of life, and sustainability
Sustained funding for investees
Non-extractive finance:
Integrated capital: Provide funding in the form of loans, gifts, and royalty financing to support small business creation and increase access to land and economic capital
Patient capital: Prefer long-term value creation over short-term return on investment by offering loan terms that center the needs of entrepreneurs and fully include them in the underwriting process
Reparative capital: Acknowledging the harm that has been caused financially in Black agricultural communities and leveraging shifts in capital to repair communities
Shifting Power in Food
Democracy: Supporting decentralized leadership with shared, community-led decision-making within the food justice space
Ownership: Improving racial equity and autonomy in the food ecosystem by empowering local food actors and prioritizing their interests
Community Impact
Cooperation: Building strong relationships and facilitating the sharing of knowledge and resources within the community
Influence: Fostering community-led efforts to inform public policy in the areas of production, distribution, and access to healthy, economical, and culturally-relevant foods in communities of color
Resilience: Reinforcing long-term economic, environmental, and social sustainability
Investment Opportunities
Or send a check to:
228 Park Avenue South
#38732
New York, NY
10003
MEMO: BFF Fund 2.0
disclaimer:
This overview is not an offer to sell nor a solicitation of an offer to buy securities; the offering is made solely by BFF’s Offering Memorandum.
In certain states, the offering is made solely to accredited investors; contact invest@blackfarmerfund.com for more information.
