Steward is transforming agriculture by equipping human-scale regenerative farms with the capital they need to grow. Together, we can fund the future of farming.
Non-Accredited Investors Subscribed
At Steward, we believe food is more than calories, and farms are more than production lines. That’s why we fund farms that fit: human-scale producers that meet the real needs of their communities while regenerating the integrity of the systems they manage. Nearly every step of the conventional finance system works against these agricultural stewards. They are too diverse, too local, too small. But we don’t see it that way.
We believe investing our best resources into our most indispensable vocation is the key to building durable, local economies and equitable, resilient food systems. By partnering directly with human-scale farms, ranches, fisheries, and producers—real stewards committed to regenerative practices—we participate in the rejuvenation of soil biology, the restored function of agricultural ecosystems, and the joy of good food shared in community. This is real agri-culture, and that’s where we want to dedicate our time and our capital.
Empower the movement of regenerative agriculture. Invest in the Steward Holding Company.
"We have consistently found that access to capital is one of the primary barriers for producers to unlock growth in their business. The truth of the matter is that if your farming model doesn’t fit squarely into the mold of a traditional farm lender, you are underserved. Steward is working to fix that. Steward is bringing a new model of finance that unlocks capital for a very large segment of producers that can’t get the resources they need to supply a market that is currently exploding."- Eric Smith, The Grantham Foundation, lead investor in a Series A Round and Board Member
Steward Lending makes a loan to an individual farm or ranch for specific commercial purposes. For as little as $100, qualified lenders can participate in a campaign to support an individual business, essentially buying a “piece” of the loan Steward is making. Steward works with each borrower to customize the loan’s structure and term based on their unique circumstances. We offer flexible payment terms on the business loans we make, such as providing a period of accrued interest after the loan is disbursed so funds can be used to generate revenue before starting to make repayments. Loans can support the acquisition of land, infrastructure, equipment, and operations based upon the future potential of the business, providing a pathway to growth and scale. All loans are secured by the collateral of the borrower. Lenders are repaid monthly throughout the lifetime of the loan.
This short-term credit product provides bridge loans to qualified farmers and food producers, giving them swift access to capital. Lenders can support the growth of multiple regenerative agriculture businesses through a single loan to Steward, ranging from $100 to $1 million. Steward then uses these funds to make secured, short-term bridge loans. This product is semi-liquid, has a 9-month loan term, and offers a fixed annual interest rate, currently set at 5%, paid monthly to participating lenders. Lenders have the option to renew their participation at the end of each loan term and lend additional funds to this evergreen campaign at any time.
Steward develops proprietary technology which forms the backbone of our underwriting and fundraising systems. Our technology facilitates the compliance administration of transactions and transfer of funds between lenders and borrowers, in a two-sided marketplace. The Steward platform is built with usability and accessibility in mind, paying attention to the broad and diverse customer base we serve.
Our borrowers are human-scale regenerative & sustainable farmers, ranchers, fishers, and agricultural producers throughout the United States. They grow in a variety of sectors, such as fruits & vegetables, livestock, poultry, grain, dairy, flowers, bees, aquaculture, fisheries, forestry, hemp, mushrooms, and wine. We also work with food systems infrastructure, such as value-added processing and food hubs.
The borrowers we work with are economically viable, ecologically minded, and determined to be a sound credit risk.
The businesses we fund must be:
Steward thoroughly reviews each borrower who applies to raise funds on the platform, conducting diligence to assess the borrower's business operations, financial position, and agricultural practices. With a breadth of knowledge and direct experience in the farming industry, Steward's in-house due diligence team and its distributed network of consultants provide comprehensive underwriting as well as active support to improve the borrower's operational capacity.
Differentiating itself from a traditional lender, Steward considers factors beyond the purely financial, such as regenerative practices of the business, potential community impact created by the borrower's success, and social factors of the business around diversity, equity, and inclusion.
Steward's diligence process ultimately leads to borrowers who are both values-aligned and economically viable.
Individual lenders, high net worth individuals, family offices, and foundations. Those who lend with Steward aim to do good and do well (impact + return). They want their money to make an impact in the agriculture sector and are committed to building sustainable food systems. They enjoy being educated about the unique benefits of a regenerative approach through farmer stories. They support climate solutions like carbon sequestration and soil health and support local justice and marginalized communities.
Series A-1 and A-2
On April 20, 2021, Steward held the first close of its Series A investment round at $596.73 per share, led by The Grantham Foundation and Tripple with investments of $2,250,000 and $750,000, respectively
Steward's Founder & CEO, Dan Miller, exchanged his $4,558,749 investment since inception into Series A Preferred Stock at the same share price. The Series A round also involved the conversion of Convertible Notes at a 20% discount.
We subsequently raised $252,000 in additional capital from select users through the Steward platform.
On August 20, 2021, we held the initial closing for the Series A-3 follow-on offering at $665.21 per share, raising $500,000 from two lead investors, Evelyn Steyer and Kat Taylor. We also raised an additional $80,000 from users through the Steward Platform.
The current Series A-4 round will be offered entirely through the Steward Platform at $925 per share. The target raise amount of $2,500,275, with a minimum of $2,775 (3 shares) per investor. We are offering this round to an unlimited number of accredited investors and up to 35 non-accredited investors.
This is the first time we are offering non-accredited investors the opportunity to invest in the Steward Holding Company. Non-accredited investors are allowed to invest up to 5% of their income or net worth, whichever is higher.
Invest now to join the movement.
These are the key terms only.
Company: Steward Holdings (US), Inc., a Delaware public benefit corporation
Security Type: Series A-4 Preferred Stock
Max Offering Amount: $2,500,275
Minimum Offering Amount: $1,000,850
Price Per Share: $925.00
Pre-Money Valuation: $26,608,709
Minimum Investment: $2,775 / 3 shares
Maximum Investment: $2,500,275
Target Closing Date: August 31, 2022
Use of Proceeds: General corporate use including staff, technology, marketing, regulatory, and legal
Current Capitalization: See cap table in the Documents tab
Join a growing community of sustainably-minded lenders reaping the rewards from responsible farming