2020 Directors Cup Honorees Named
- Young and beginning farmers up to age 40 years or in their first 10 years of farming are eligible for FreshRoots lending assistance.
- The first 10 years of full-time farming is defined by the number of years an individual has filed a Schedule F tax form.
- If jointly applying for a loan under the FreshRoots program, neither co-applicant can be both 41 years of age or more and have more than 10 years of full-time farming experience.
- Provide annual fiscal year-end balance sheet throughout lending assistance eligibility.
- Five-year discounted interest rate on up to $1 million farm real estate loans and $500,000 operating loans – to find out today’s rate contact your local FCI office.
- Relaxed lending standards
- FCI will cover the cost of the FSA 1.5% guarantee fee on eligible farm real estate loans.
- A completed fiscal year-end balance sheet, business plan, and cash flow statement, must be provided at each application.
- Get started by accessing these downloadable templates:
- Balance Sheet
- Machinery List
- New FreshRoots Members - Business Plan Template and Outline for Business Plan
- Existing FreshRoots Members - Subsequent Business Plan Template
- Farms Operated Schedule
- Cash Flow Projection - check out this tutorial for how to complete the cash flow template
- Per Acre Cash Flow
- Be sure and save these files to your local desktop or laptop computer before entering information and save again each time you open and fill out.
- Borrower-members up to age 40 or in their first 10 years of farming qualify for up to $2,000 in FreshRoots learning incentives.
- Young and beginning farmers do not have to participate in FreshRoots lending assistance to earn learning incentives.
Up to $2,000 in stipends are available to individual and married-couple borrower-members who attend three learning workshops within two years.
- Receive $1,000 for attending a local farm financial analysis workshop.
- Earn two $500 stipends for attending any two Farm Credit College or Fielding Forward events.
- For details on the next FCI educational workshop near you, visit www.farmcreditIL.com/learning.
DIRECTORS CUP AWARD
The FreshRoots Directors Cup presented by the Farm Credit Illinois Board of Directors celebrates young and beginning farmers committed to continuous learning and intentional living for a brighter future for their farm family business and community.
Individual and married-couple FreshRoots participants who are up to age 40 or in their first 10 years of farming on January 1 of the year they apply and who have been an FCI member-borrower for at least three years are eligible to apply.
Applicants will submit a formal application highlighting the personal growth and professional development they have pursued while participating in the FreshRoots program.
An independent committee will select the annual recipients.
- Applications will be available online February 1 to April 1 annually.
Recipients receive a $5,000 cash award and a trophy.
Up to six Directors Cup recipients may be selected annually.