Beginning with Compeer Grant Program

Compeer Financial, a member of the Farm Credit System, is dedicated to sustaining agriculture and supporting rural communities. With a century-long history of providing financial services to farmers, Compeer has implemented targeted programs to support new generations of agricultural producers. One such initiative is the "Beginning with Compeer Financial Grant Program," which is tailored specifically for beginning farmers within their 144-county territory. The goal of this grant is to lower the financial barriers for early-stage farmers, thereby enabling them to access vital business development tools and services needed for long-term success. The program defines “beginning farmers” as individuals who have been actively farming for ten years or fewer and who treat farming as either a part-time or full-time vocation. Eligibility also requires residency within Compeer Financial’s service area. The structure of the grant is tiered based on the applicant’s existing relationship with Compeer Financial. Loan clients with a total principal balance of $50,000 or more may qualify for up to $1,500. Clients with smaller balances, or those using Compeer’s financial services, are eligible for up to $500. Farmers who are not clients, including those whose only relationship is through crop insurance, can receive up to $250. Additionally, farmers enrolled in multi-year training programs in Illinois, Wisconsin, or Minnesota may receive a bonus grant of $500, increasing their maximum award to $2,000. Grant funds are intended for business development purposes and cannot be used for operating costs or equipment purchases. Eligible uses include first-time tax or accounting services with Compeer or an outside provider, purchase of farm accounting software, tuition for farm business management courses, registration for workshops, fees for developing value-added products, FSA guarantee fees, and legal costs associated with farm transitions or LLC formations. All grant reimbursements require proof of payment and submission of a completed W-9 form. Grants must be redeemed within 12 months of approval, after which unused funds will be forfeited. Applicants are allowed to reapply if their relationship with Compeer Financial changes. For instance, a farmer who initially received $250 as a non-client and later establishes a client relationship may reapply for additional funding, not to exceed a cumulative award of $1,750 unless enrolled in a multi-year program. Each farm household can receive up to $1,500 (or $2,000 with program enrollment), and the total cap per farm operation is $5,000. Team members of Compeer Financial or their immediate families must undergo additional ethics review as part of the application process. To apply, eligible farmers must complete and submit an application by mail or email to the attention of Melanie Olson at Compeer Financial. The mailing address is 21088 Keswick Loop, PO Box 1219, Lakeville, MN 55044. For inquiries, applicants may contact Melanie Olson at [email protected] or call 952-997-1255. Upon grant approval, recipients must provide receipts and a W-9 form to receive disbursement. The grant does not have a stated application deadline or recurrence pattern, but applicants are encouraged to apply as funding is likely limited and subject to program availability. While there is no specified annual cycle, the program appears to operate on a rolling basis, enabling applicants to submit throughout the year. This rolling structure allows beginning farmers to seek funding as their business needs arise, offering critical flexibility in the timing of support. By focusing on financial literacy, business development, and long-term sustainability, Compeer Financial’s grant program underscores its commitment to the next generation of farmers in the Midwest.