Black Farmer Fund Inc

Overview

Black Farmer Fund Inc is a nonprofit organization dedicated to creating a thriving, resilient, and equitable food system by investing in Black food systems. Founded in 2017 by Karen Washington and Olivia Watkins, the organization aims to support Black farmers, agricultural businesses, and food entrepreneurs in the Northeast United States.

Mission

The mission of the Black Farmer Fund is centered on building community wealth and promoting local food sovereignty through collective power. This is achieved by providing critical financial resources and technical support tailored to the needs of Black food business owners, who historically face significant barriers in accessing capital and maintaining their agricultural endeavors.

Strategy

• Financial Support: The organization offers low-interest community notes and gifts to Black farmers, herbalists, restaurant owners, and other food-related entrepreneurs. By doing so, it addresses the issue of discriminatory and predatory lending practices that have adversely affected Black farmers for generations.

• Community Involvement: Black Farmer Fund emphasizes community-led decision-making and involvement in its investment processes. An investment committee composed of Black farmers and food industry entrepreneurs plays a key role in determining recipients of grants and loans.

• Technical Assistance: Beyond financial support, the organization provides technical assistance, business development resources, and relational support. Community workdays are organized to bring together farmers, volunteers, and other stakeholders for collaborative projects, fostering a sense of community and cooperation.

Programs and Impact

One of the significant initiatives by Black Farmer Fund includes its pilot fund, which was launched in 2021 with a fund size of $1.1 million, supporting eight agricultural businesses initially. This success led to the development of BFF Fund 2.0, a $20-million integrated capital fund aimed at supporting approximately 30 Black farmers and agricultural businesses over four years across the Northeast.

The fund has also introduced a Rapid Response Fund to provide emergency support to Northeast Black farmers and food entrepreneurs. Additionally, collaborations with organizations like OpenTEAM and Northeast Farmers of Color Land Trust are part of its broader strategy to leverage technology and community partnerships in assessing and meeting the needs of Black agricultural businesses.

Challenges and Vision

Despite the lack of government support, Black Farmer Fund has successfully raised significant funds, including over $12 million, to invest in Black food businesses. The organization continues to evolve based on community feedback, ensuring that its efforts align closely with the needs of Black farmers and food entrepreneurs.

The vision for a racially just agricultural ecosystem is central to the organization's long-term goals, focusing on systemic change and equitable access to resources for Black farmers and food system stakeholders.

Conclusion

Black Farmer Fund Inc represents a critical effort to address historical inequities in the agricultural sector by supporting Black farmers and entrepreneurs. Through its innovative approach to community-driven funding and technical assistance, the organization aims to build a more equitable and resilient food system in the United States.