Agricultural Financing for African American Farmers
The Black Farmer Fund (BFF) is a vital initiative that offers technical assistance, business development, and financial support to Black farmers and food entrepreneurs. The fund, launched in 2019 by Karen Washington and Olivia Watkins, aims to foster long-term success and shift the narrative about the success of Black farmers and their importance in the food system.
In the United States, Black farmers own less than 2% of American farmland, amounting to only 3 million acres. This stark statistic is a far cry from the 14% of farmland owned by Black Americans in 1919. The BFF is committed to addressing this disparity and supporting the Black community in agriculture.
The BFF provides grants and loans to community-driven businesses that employ sustainable farming practices or fight for economic justice. In 2021, the organization's pilot fund raised $1.1 million and supported eight agricultural businesses in New York State. BFF 2.0, launched in March 2023, aims to continue this momentum, with the goal of raising $20 million in integrated capital funds and supporting 30 Black farmers and agricultural businesses across the Northeast over the next four years.
Olivia Watkins, an environmental biologist by background, has worked at Kahumana Organic Farms in Hawaii and Soul Fire Farm in Petersburgh, New York. Karen Washington, who co-founded Black Urban Growers, is a co-owner of Rise & Root Farm, and has served on the boards of New York City Community Garden Coalition, Just Food, and WhyHunger. In 2010, Washington received a National Medal for her work in Bronx urban gardens.
The duo's efforts have not gone unnoticed. In 2023, the James Beard Foundation awarded Washington and Watkins its Humanitarian of the Year Award. The BFF 2.0 campaign is currently in progress, having raised $10 million in the current phase using Integrated Capital, with a goal to raise a total of $100 million over the next four years to support Black farmers and landowners.
Karen Washington's journey with farming began when she started a garden as a homeowner and was hooked after tasting her first tomato. The BFF is a testament to her passion and commitment to fostering a more robust, equitable farming system. The fund is focused on continuing to deploy the $20 million raise and empowering the Black community in agriculture.
