California CDFI Invests in Farmers to Support Healthy and Prosperous Communities
Client: Nile Estep-Salitrero
Client Location: Carmel Valley, CA
CDFI: California FarmLink
CDFI Service Area: California
Lending, land access, and education for California farmers
Nile Estep-Salitrero, a small business owner based in Carmel Valley, California, sought to secure financing to acquire a farm property that would host events, farming activities, and its own residence. However, he quickly ran into a barrier accessing capital that many other small-scale farmers face.
Because of agricultural industry risks associated with weather, cyclical income, and market volatility, along with this farm’s zoning and designation as a commercial property, mainstream banks considered Nile to be “unbankable” and he didn’t qualify for financing, including a residential mortgage. But where traditional banks see risk, community development financial institutions (CDFIs) see potential.
OFN Member Loan Helps Retain 20 Agriculture Jobs
California FarmLink, a statewide CDFI, stepped in with a loan that provided long-term stability for Nile. The loan’s impact has been far-reaching—it retained five full-time and 15 part-time jobs, sustained produce sales and distribution for dozens of farms, and preserved land access for a farmer tenant on part the property.
Additionally, California FarmLink provided technical assistance that helped Nile navigate the complex documentation and compliance needed for the loan, including tax returns, revenue projections, and a state-backed loan guarantee.
Nile shared this appreciation for California Farmlink’s support, stating, “I want to thank you all so much for your help on securing my loan! Truly, I cannot tell you how much it means to me and my family. We just did a big tomato harvest and many field trips that brought so much joy and excitement to many people. I hope it inspires those younger generations to get into farming and learn more about how to best take care of our soils and celebrate the abundance of food we receive from it.”
Nile’s property is part of a historic rural farm that began organic practices in 1947. A portion of the farm was leased to Earthbound Farm in the 1980s, which grew into national prominence as the U.S.’s largest organic produce brand. Today, Nile continues this legacy by practicing regenerative, chemical-free agriculture while supporting a vibrant community of local farms.
Rural Farmers Empowered by CDFI Financing
CDFIs like California FarmLink are creating meaningful change by empowering rural farmers, ranchers, and fishers with funding and other support. In turn, these entrepreneurs increase access to nutritious and fresh food for American communities. In 2020, CDFIs originated an estimated $5.9 billion in financing in rural areas alone. By creating equal access to opportunity, CDFIs build business resilience and healthy local food systems one loan at a time.
To learn more about OFN’s commitment to investing in rural America, visit our rural development page.
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