FarmStart, an investment program through Farm Credit East helping emerging agricultural businesses get started, recently passed the $10 million mark with an investment in a local farm.
The program, which invests working capital of up to $75,000 to farms across the entire northeast region, has brought more than $500,000 to Long Island businesses since its inception 11 years ago. A FarmStart advisor also works with each participant to help the new business stay on track toward achieving their business objectives.
“Surpassing $10 million in FarmStart investments is an exciting milestone and indicates the continued interest of young entrepreneurs to enter the industry,” FarmStart program manager Lynn Weaver said in a statement.
The milestone investment was made at Leannes Country Gardens in Wading River, a nursery that opened next to Lewin Farms in 2016.
“It’s stimulating to see some of the unique ideas of young farmers to penetrate Long Island’s consumer-driven marketplace,” Riverhead branch manager Steve Weir said in a statement. “The growth of the FarmStart program exemplifies the continued interest of these young entrepreneurs to get started in agriculture.”