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Micro Farm Loan Workshop w/ Carrot Project
December 6, 2022 @ 10:00 am - 5:00 pm
Learn about insurance options for small, diversified farms. Build your toolkit for financial resilience.
USDA Micro Farm is USDA’s newest insurance program, available specifically for farmers making up to $350,000 annually. Micro Farm prepares your farm for the unexpected by protecting your total farm revenue from losses in income. For example, if you’re insured for $100,000 and you only make $30,000 during the year, you could receive a claim payment of $70,000 to recover the difference. This insurance covers everything under one policy – including income from post-production processing (for example, freezing or drying) plus value-added products (for example, jams, jellies, cider, canned or pickled goods, etc.).
This workshop is a sequence of five parts, divided into Session One and Session Two. Session One (Parts A and B) covers Micro Farm eligibility requirements and the application process. In Session Two (Parts C, D, and E), we’ll look at ways to refine your financial recordkeeping. We invite you to attend one or both sessions depending on your interests and needs. The full workshop will be offered three times, twice in-person and once virtually.
Session 1: Micro Farm Insurance – What is This and Who is Eligible?
(Part A) Leave knowing whether Micro Farm insurance is applicable to your operation and what other risk management options are available if you are currently ineligible.
Session 1: Micro Farm Insurance – Applying for Insurance and What You Need to Know
(Part B) Leave knowing how to apply for and benefit from Micro Farm insurance, and what financial records you will need. Understand how the insurance premium and coverage works, and how to work with an insurance agent and place a claim.
Session 2: Refining Your Records
Refine your financial recordkeeping to better manage your farm business and prepare you for the Micro Farm insurance program.
(Part C) Understanding Your Farm’s Financial Records
(Part D) Preparing a Schedule F Tax Form
(Part E) Steps for Improving Your Financial Recordkeeping
Interested in exploring this program on your own time? We also have self-guided tools available. Click on the “Launch self-guided tools” button to launch these free, online tools.
This training series is offered free of charge for all participants. In-person and virtual options available. Participate based on your interests, needs, and schedule. Workshops currently available only in English.
The Carrot Project’s farm programs are geared towards farmers in Southern New England, with priority given to businesses in RI, MA, and CT. Class size is limited.
- In-Person (Vernon, CT) – Dec 1, 2022 (10am – 5pm, morning and afternoon sessions)
- In-Person (Beverly, MA) – Dec 6, 2022 (10am – 5pm, morning and afternoon sessions)
- Virtual (Zoom) – Dec 7 and Dec 9, 2022 (12 – 3pm each)
- Live Office Hours – Dec 21, 2022 (1pm) and Jan 4, 2023 (7pm)