Small farms get creative with crowdfunding

Friday, June 6, 2014

Small farmers who can't or don't want to get a bank loan can go the way of independent bands and filmmakers and get their startup capital through a crowdfunding site like Kickstarter or Indiegogo.

Rebecca Bloomfield of Bloomfield Farm in Almonte, Ont., used Indiegogo to raise $14,000 over two months. She said via email that "the financial support was incredible, and is what made it possible for me to get started that season (2013). Otherwise, I would have had to work to save money just to be able to purchase equipment, seeds, etc. With crowdfunding, I was able to start right away."

Just as valuable as the money, she says, was the moral support built into the crowdfunding model, where people contribute because they believe in your cause. "It somehow made the work feel more meaningful than it would have otherwise, because it was made possible by friends, family and strangers who felt connected to the project and the broader vision."

HarvestFunders.com is one of a handful of crowdfunding sites that focus exclusively on agriculture. Bayfield, Colo., farmer Jesse Lasater told The Durango Herald that he started the site after a farmer friend was denied a loan. At the time, Lasater's cousin was running a crowdfunding campaign to raise $30,000 for his band to record an album. He ended up raising $40,000. "That really showed me the power of crowdfunding," Lasater said. The site, launched in March, currently has three farm campaigns running. BF