Meryl and Lane Nevins founded Prospect Farm in Lisbon, N.H. in 2015. Theirs is a pasture-based diversified livestock farm committed to raising heritage breed animals humanely and holistically in harmony with nature. Lane and Meryl graze their animals by rotating them around the farm in a way that benefits the livestock's health and the land they farm. They sell their products through farmer’s markets, local restaurants, Root Seller in Lancaster, and wanted to build a community-supported agriculture (CSA) project.
In 2016, the Farm Service Agency (FSA) provided a small loan for the couple to invest in equipment and to build new pig enclosures, but they also needed operating capital to deal with seasonal cash flow fluctuations. Lacking the collateral to get additional financing from the FSA or another lenders, they turned to the Community Loan Fund.
Why the Community Loan Fund made the loan
The Community Loan Fund extended a small line of credit to Meryl and Lane because they were very willing to work with outside help. The Community Loan Fund provided a cost-share grant for a business consultant to do a full enterprise analysis of the farm and to suggest ways to improve cash flow. We were confident that Meryl and Lane were setting themselves up for future success.
We extended the line of credit and Meryl and Lane are managing it successfully. They've moved their farm over the state line to Lunenburg, VT, and are working on new marketing initiatives. Their CSA membership has steadily increased.