The 2024-2025 Microloan Application is Live!
Back in 2015 we were asking the question, what can the Grain Train do to help bolster the local food and farm economy? To help us grapple with that question we invited Crosshatch Center for Art & Ecology to the table. After a lot of spit-balling we came up with the microloan concept. The Grain Train would be the funders of the loans, and we would also sponsor Crosshatch as the administrators of the project.
2016 was the first year we awarded three different loans. It was so exciting to see farmers and producers able to move forward with their dreams and elevate the work they were doing. Next, Oryana, our sister co-op in Traverse City joined, offering microloans to their seven-county area. Just this year, the Kalkaska Economic Development Cooperation has joined in as a funder for Kalkaska County.
The Grain Train funds applicants from Antrim, Charlevoix, Cheboygan, Emmet, and Otsego counties. Some years one applicant is funded for the full $10,000, other years we fund multiple applicants in varying amounts up to $10,000. We are looking for candidates that are working towards boosting their food or farm business while at the same time elevating the region's local food system. We encourage the usage of sustainable practices, but proposals are not limited to particular practices or scale.
When reviewing applications, we are looking for well thought out plans that include a detailed budget. We look for those that are able to show us in succinct detail what their dreams are so we can help bring them to life. Below are some basic details of the program.
POTENTIAL USES FOR LOAN
- Essential tools for the farm or food business
- Materials, land, livestock, or essential infrastructure (reoccurring annual inputs discouraged)
- Certification
- Marketing and distribution
- Professional development
- Value-added product production
- Processing, packaging, and marketing for farm products
- *Production of CBD and food products containing CBD will not be considered for funding due to present discrepancies between federal and state regulation of this substance
LOAN DETAILS
- Applicants may request $500 - $10,000 based on evidence of project potential
- Repayment terms are negotiable (typical repayment time frame is 12-18 months)
- 0% interest rate
- No application fee
We can't wait to see what projects our local farmers and producers will be submitting this year. Applications will close by February 7th and loans will be awarded in early March. The Grain Train exists to contribute to a vibrant local economy and so that the local community has the resources to live a healthy and sustainable lifestyle. The Microloan program is just one way we reach those Focused Ends. Until next time, see you at the stores!