The Individual Development Accounts (IDA) program is the first of its kind in the nation. The program has attracted national attention in the 2007 Farm Bill negotiations. It helps farmers save money and build equity in order to buy an asset for their farm or to put a down payment on land.
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The following stories highlight some of the successes through the program since 2003 when California FarmLink first committed the matched savings accounts to farmers. Several are designed to show how the program complements existing FSA programs. |
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We are not currently accepting applications for the IDA program. Please encourage your Congressional representatives to support federal funding for agricultural IDA programs in the Farm Bill! |
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Our IDA program is designed to help beginning and underserved farmers finance their agricultural endeavors. The core of the IDA program is a "matched savings" plan that matches every $1 saved by the participant with $3 from outside funds contributed through California FarmLink. Participants are asked to commit to saving $100 per month for two years, so that by the end of the program, together with the FarmLink matching funds, they will have $9,600 to put towards a down payment on a farm or to purchase farm equipment. IDA programs have been utilized primarily in urban areas over the last several years focusing on micro-enterprise development, low-income housing, and higher education. California FarmLink built on this successful model to develop the first IDA program nation-wide focused specifically on agriculture, and serving skilled and committed farmers. |
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