Lending Successful

Equipment To Store And Grind Feed

by Covey Rise Farms

Covey Rise Farms is seeking a loan to purchase the equipment necessary to store and grind their own non-GMO feed for their pastured poultry.

Project Summary
  • Location: Radnor, OH
  • Products: Livestock Poultry
  • Loan Term: 60 months
  • Interest Rate: 8.00% APR
  • Repayments Begin: 3 months after disbursement
100% of $73,000

Funded on 05/04/2021


Covey Rise Farms sits proudly in the grasslands of Central Ohio, home to ethical, pasture-raised chicken, lamb, pork, turkey, and beef sold locally and shipped around the country. Founders Charlie and Kerissa Payne consider themselves first and foremost grass farmers, committed to raising animals whose grazing and movement builds healthy soil in their pastures in addition to yielding nutritious, flavorful meat. 

Both first generation farmers, Charlie and Kerissa’s goal is to sustain a farming operation that will thrive for generations to come. They’ve endowed Covey Rise Farms with a bedrock foundation of regenerative principles, accounting for the welfare of their animals, their soil, and their community. Locally, they sell their meats wholesale, to restaurants, and at farmers markets, and they’ve been featured on the front page of the New York Times, in Edible Columbus and Columbus Monthly, and on several podcasts.

Use of Funds

Covey Rise Farms has grown rapidly inside its first decade of production. From their initial 100 broiler chickens on pasture, they’ve grown to 15,000 chickens, in addition to sheep, pigs, and cows all on pasture. They’re raising funds now to purchase the equipment necessary to grind and store their own non-GMO feed for their pastured poultry. By being able to store locally sourced, non-GMO grain on site, they’ll realize a 30-40% savings in feed costs. They’ll also maximize the efficiency of their time and work as they’ll be spending less time coordinating the logistics of transportation and be able to purchase the grain in bulk when market prices are lower.

Regenerative & Sustainable Practices

Covey Rise Farms is focused on the life and welfare of the animals they’re raising, and on regenerating and strengthening the biology of their soil. To that end they:

  • Utilize rotational grazing, moving their animals between pastures on a consistent schedule to give grasses time to grow back their blades and set in deeper roots.

  • Keep all animals truly free range on open pasture and handled humanely.

  • Don’t use any chemicals, antibiotics, or hormones.

  • Build their own compost to make a closed-loop system.

  • Only raise heritage breed pigs, from farrow to finish.

Lender Incentives

Participating lenders can expect to receive products from Covey Rise Farms when lending at the following tiers:

  • $1,000+ Custom farm hat

  • $5,000+ 10lb Pastured meat box shipped to your door

  • $10,000+ (2) 15lb Pastured meat boxes shipped to your door

  • $15,000+ (2) 20lb Pastured meat boxes shipped to your door

  • May 05, 2021

    Thank You!!!!

    From the bottom of our hearts, we want to Thank You for believing in our dream, our farm, and our project! We are absolutely blown away that in less than 30 hours, our loan went from its first participation to fully funded.

    So what now?!? Thankfully we already have a site laid out for the feed bin setup, we will begin working to bury electrical lines, set forms, and start looking for a weather window to pour the concrete pad. We are also reaching out to contacts for sourcing the bins, tractor, and grinder but with used equipment, it does take time to find the right fit! We will work to update all of you as the project progresses and you can always follow our daily progress via the farms Instagram page: @coveyrisefarmsohio

    Again thank you so much and we look forward to a brighter future for regenerative agriculture!

$28,000 - New tractor

$8,000 - Grinder/mixer for feed

$12,000 - Grain bins with augers

$4,000 - Concrete pad & electrical setup

$21,000 - Initial grain purchase

Total Budget: $73,000

This loan will be made to Covey Rise Farms LLC, an Ohio domestic limited liability company that grows and sells pasture-based meats.

This loan is for a new feed storage and grinding setup to drive down operating costs.

The total loan amount is $73,000, which will assist Covey Rise Farms in growing and expanding its business.

This loan is set at an 8% interest rate, with a 60-month term, and fully amortized monthly payments beginning 3 months after funds are disbursed.

Lender Participation Agreement Download
Borrower Loan Agreement Download

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