Delaware Agricultural Financing Program

Delaware Department of Agriculture Delaware Agricultural Financing Program Home Office of the Secretary Delaware Agricultural Financing Program NAVIGATE Office of the Secretary Delaware Agricultural Financing Program Delaware Farm and Food Policy Council LEADelaware Media Relations Language Access Public Meetings Contact Us Listen Delaware Agricultural Financing Program (DAFP) The Delaware Department of Agriculture has partnered with the Delaware Division of Small Business to increase the viability of Delaware’s agricultural industry by broadening lending opportunities across the agricultural sector. How DAFP Works Equipment loans will be available for supporting activities, including distribution for small and large operations. The Delaware Economic Development Authority (DEDA), through the state’s Division of Small Business, will provide loans of $25,000 to $250,000 with a maximum loan amount of 50% of a project’s total cost. Applicants must demonstrate eligibility from a private lender for the balance of project costs. Final closing will be contingent on the approval of all participating lenders. All loans will have a term of up to seven (7) years, with interest-only payments due in the first year, followed by full amortization. Interest rates will be fixed at 3.35% for first-time farmers and aquaculture projects and 4.25% for all other projects. Eligibility Delaware food processors actively engaged in , and/or food production in the State of Delaware. Proof of farm or food business ownership or an IRS Schedule F tax form from the previous year can be provided. All work must be performed by experienced and qualified contractors licensed by the State of Delaware whose primary business location is in Delaware. Project financing is limited to one project per business annually, defined as one calendar year from the time of the closing date of its most recent loan. How to Apply Those interested in applying for a loan through the Delaware Agricultural Financing Program should submit an application to DAFP@ Delaware Agricultural Financing Program (DAFP) Application Additional Information Delaware Agricultural Financing Fact Sheet (DAFP) NEWS: September 3, 2024   Delaware Launches Agricultural Financing Program Questions?  If you have questions about a potential project for which you are seeking funding, reach out via email to DAFP@ About DDA Mission Office of the Secretary Sections & Commissions Human Resources Media Relations Public Meetings FOIA Requests For the Consumer Buy Local Guide Forest Maps Pest Identification Complaints & Questions For Producers & Businesses Certification & Training Grants & Loans Land Preservation Licenses & Permits Nutrient Management Pesticide Monitoring Registrations Ag Education Agricultural History Agricultural Statistics Education Programs Topics Food Products Inspection Enforcement Actions Social Media Facebook Page   Twitter Feed   Instagram Photos Flickr Photos   Pinterest Board Facebook Page   Twitter Feed Instagram Photos   Flickr Photos Pinterest Board + Show state footer menu Delaware's Government Delaware's Governor State Directory Elected Officials General Assembly Delaware Courts State Employees Cities & Towns Delaware State Code State Regulations Business First Steps Phone Directory Locations Directory Delaware Public Meetings Voting & Elections Transparency Choose Health DE Tax Center Personal Income Tax Privacy Policy Weather & Travel Contact State Agencies Corporations Franchise Tax Gross Receipts Tax Withholding Tax Guides to Services Help Center Mobile Apps E-mail / Text Alerts Social Media gov (opens in a new window) X (formerly gov (opens in a new window)