Practical Farmers of Iowa is now accepting applications for its next class of the Savings Incentive Program, a two-year mentorship and support program for beginning and aspiring farmers. Applications are due by Friday, Oct. 12, and must be submitted online.
The Savings Incentive Program aims to help beginning farmers succeed at their farm start-ups through mentorship from experienced farmers; business plan support; the chance to save money and receive matching funds; the opportunity to attend a range of learning events; and access to a network of supportive peers.
How It Works:
After 24 months and completion of all program requirements, participants earn a dollar-for-dollar match on money saved up to $2,400, for a possible $4,800 that may be used to help purchase a farm asset. This savings component helps beginning farmers overcome prohibitive start-up costs – though many participants cite the networking, mentorship and business plan work as the most beneficial aspects of the program.
- Applicants must either be farming on their own now and have farmed for seven or fewer years, or have experience working for a farm business.
- Must reside in Iowa or farm in the state of Iowa or bordering counties in adjoining states.
- Must be a member of Practical Farmers of Iowa.
Apply before Oct. 12 to be considered for the SIP Class of 2021.
For questions about the Savings Incentive Program or application process, contact Greg Padget at email@example.com or (515) 232-5661.