Upper Shore Regional Council Farm Incentive Fund
The Upper Shore Regional Council (USRC) and MARBIDCO have partnered to offer an incentive program targeted to farmers in these three Upper Shore counties: Cecil, Kent, and Queen Anne's.
Overview
This fund is designed to incentivize loan requests from Upper Shore farmers and to help them meet certain down-payment (equity) requirements of lenders in order to help improve the credit quality of their applications. The program connects farmers with vital resources by making a 5% equity contribution towards financing a project funded by a MARBIDCO loan.
Available MARBIDCO Programs under the USRC Partnership:
Each MARBIDCO program has its own eligibility criteria and application/approval process. Upper Shore applicants should follow the regular application process and meet the rigors of MARBIDCO’s underwriting criteria for each loan program.
USRC can contribute up to a maximum of $15,000 towards the MRBIFF loan program, and in all other loan programs the equity incentive match would be capped at $5,000 (per applicant). A match of 5% borrower equity is generally required to obtain the incentive funds.
To learn more about the Upper Shore Regional Council, visit their website.