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Sustainable Agriculture and Food Systems Keith R. Bisson SVP, Program Management and Development CEI kbisson@ceimaine.org kbisson@ceimaine.org Rural LISC 2013 Seminar June 5, 2013 Washignton, DC Slide 2 The Intermediary: CEI Mission: To help create economically and environmentally healthy communities in which all people, especially those with low incomes, can reach their full potential Organized as a CDC in 1977, certified as a CDFI in 1995 88 Staff $898.5 million capital under management/committed 41,044 businesses/people counseled $2.44 billion leveraged Support the Triple Bottom Line Economy, Equity and Environment Three areas of focus: Financing and Investment Business Development Services Policy Slide 3 Sustainable Agriculture and Food Systems at CEI: Creating Opportunity Along the Value Chain from Farms to Retailers Supports viability and expansion of rural food economies in Maine and the Northeast Committed to increasing food self-sufficiency and access to healthy food for all Provide: Business Technical Assistance Financing Sector Initiatives Slide 4 Business Technical Assistance Coordinate team-based business planning Leverage resources and networks Provide sector expertise Slide 5 Financing Flexible debt; lines of credit; equity and equity-like financing; guarantees Amounts from $500,000 or more Coordinate multiple sources of capital Slide 6 Sector Initiatives Food access initiative for underserved populations State and federal policy and advocacy networks Strategic collaboration with regional farming and food organizations Slide 7 Programmatic Impact Over our 35 year history, CEIs food system work has resulted in over 295 direct investments totaling more than $15 million and leveraging an additional $75 million. In the past 5 years, food system lending has created or retained 323 jobs and kept 6,773 acres of farmland in production. Our current portfolio totals nearly $5.7 million; and within that our agriculture and value chain portfolio nearly $2.7 million. Slide 8 The CEI Team: Sustainable Agriculture and Food Systems Program Team: Gray Harris, Director Daniel Wallace, Program Developer Experienced team of five loan officers with complete loan servicing staff Business Development Services division with 12 experienced business counselors Slide 9 Northern Girl Caribou, Maine Value-add processing of locally grown vegetables, in Maines northernmost county, Aroostook. $25,000 equity investment to support operations. Sources of funds: CEIs Healthy Food Finance fund and Annie E. Casey foundation funds. Slide 10 Fossas General Store Dexter, Maine Community store that sources local farm products year round. Phase II plans include vegetable processing, and a creamery. $50,000 term loan for working capital, renovations, and debt refinance. CEI Fund source: Healthy Food Finance Funds. Slide 11 Village Farm Freedom, Maine Organic farm in midcoast Maine, offering over 100 varieties of vegetables, herbs and flowers for 75+ CSA member households and several wholesale accounts.CSA $15,000 microloan to construct a greenhouse and install an irrigation system. 2 CEI Fund sources: Maine Farm Business Loan Fund (partnership with The Carrot Project); The Organic Loan Fund Slide 12 CEI Staff Slide 13 MAINE FRESH Slide 14 Slide 15 Q & A