Delaware Agricultural Financing Program (DAFP) - Equipment Loans for Agricultural Businesses

• Program offers equipment loans ranging from $25,000 to $250,000 for Delaware agricultural businesses • Key eligibility requirements: - Must be Delaware farmer, producer, or food processor actively engaged in crop, livestock, aquaculture, or food production - Must provide proof of farm/food business ownership or IRS Schedule F from previous year - Must use Delaware-licensed contractors with primary business location in Delaware - Limited to one project per business per calendar year • Loan terms: - DEDA will finance up to 50% of total project cost - Private lender must approve remaining balance - 7-year maximum term - First year: interest-only payments - Interest rates: 3.35% (first-time farmers/aquaculture) or 4.25% (all others) - Full amortization after first year • Equipment loans can support: - Production - Processing - Packaging - Aggregation - Distribution - Both small and large-scale operations • Application process: Contact [email protected] to confirm project qualification