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Urban Farm Infrastructure And Equipment

by Storey Family Farm
Urban Farm Infrastructure And Equipment

Storey Family Farm is purchasing new equipment, installing water lines, and building a greenhouse to expand vegetable and poultry production capacity in 2022.

Project Summary
  • Location: South Bend, IN
  • Products: Fruit & Vegetable Poultry Mushrooms
  • Loan Term: 60 months
  • Interest Rate: 6.50% APR
  • Repayments Begin: 9 months after disbursement
$48,000
100% of $48,000

Funded on 12/18/2021

Overview

Storey Family Farm in South Bend, Indiana is a first-year farm that specializes in regenerative, pasture-raised poultry, vegetables, and mushrooms. They currently have 450 hens on a leased 10-acre pasture and operate their market garden on an owned 1-acre urban parcel. Their hens are fed organic grain from a local co-op, rotated on pasture from spring through fall, and overwintered in a hoophouse. Storey Family Farm sells almost all of their eggs to two local restaurants and a grocery co-op, with the remaining sold direct-to-consumer via their online store. High demand from local chefs, schools, and grocery stores is driving their need for expansion. Located in a prime area for neighborhood engagement, the farm is within a stone's throw from a school, community center, and South Bend’s major farmer’s market.


Use of Funds

Storey Family Farm is seeking a $48k loan from Steward to expand their exceedingly popular vegetable and pasture-raised poultry production. Funds will be used to purchase new equipment, for water installation, and to build out a new greenhouse, which will help them increase production capacity and sales going into the 2022 season. These upgrades will enable the farm to produce more food with greater efficiency, leading to increased revenue and profit.


Regenerative & Sustainable Practices

Storey Family Farm is committed to improving the ecological and social well-being of their community and surrounding environment. They work to grow nutritionally-dense, ecologically-minded food that is accessible for people with low incomes and considers the entire ecosystem in their farming practices. Through their farming philosophy they are:

  • Establishing beds using a deep compost mulch method in their market garden, with minimal tillage and extensive cover cropping to protect the vast microbiology supporting healthy plants.

  • Farming without the use of any synthetic pesticides and finding natural fertility sources, such as compost, chicken manure, bone meal, and kelp meal.

  • Rotationally grazing all of their livestock (currently broiler chickens, turkeys, and egg laying chickens) on pasture. The birds are fed organic, non-GMO feed from a local co-op and housed in infrastructure influenced by Polyface Farm legend, Joel Salatin.

  • Supporting lower-income community members and striving to make their food as affordable and accessible as possible by working with government food assistance programs.

  • Sustainably cultivating mushrooms and microgreens indoors with organic substrate materials sourced 80% in-state. When mushroom blocks and microgreen trays are spent they are added to compost piles, where they become some of the main drivers of the farm's soil fertility.

  • Growing a diversity of seasonal produce (50+ varieties) and mushrooms, and incorporating perennial hedgerows as habitats for beneficial insects, birds, and small animals.
  • December 23, 2021

    Our Project Is Fully Funded!

    We're very grateful to be sharing the news that you all made it happen: our project is fully funded! Thank you for your commitment to and support of regenerative agriculture and, more specifically, Storey Family Farm.

    Now the real fun begins as we will be purchasing and establishing our propagation greenhouse, irrigation system, and more! Stay tuned for more updates as we'll keep you in the loop on how your funds are being used.

    Thanks again,
    Stephen & Raquel Storey

Water Installation and Supplies--$20,000: Hooking up city water on their 1 acre urban farm and supplies for irrigation.

Tools and Equipment-- $15,000:  Including a transplanter, seeder, and harvester as well as a variety of other tools needed for production next season. 

Propagation Greenhouse--$13,000: All materials for the buildout of a new greenhouse and the installation of ventilation and heat.

Total Budget - $48,000


This loan will be made to Storey Family Farm LLC, an Indiana limited liability company, which grows and sells produce and pasture raised poultry for their local community.

This loan will be used for equipment purchase, water installation, and the buildout of a propagation greenhouse.

The total loan amount is $48,000  which will assist Storey Family Farm in growing and expanding their business.

This loan is set at a 6.5% interest rate, with a 60 month term, and fully amortized monthly payments beginning 9 months after funds are disbursed.


Borrower Loan Agreement Download
Lender Participation Agreement Download

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