Firm funds farms.
Author | Kelly, Lindsay |
Position | NEWS |
"Investing with operators to build great Canadian farms."
For the last two years, that guiding creed has led Area One Farms to secure agricultural investments with producers in Alberta, Saskatchewan, Manitoba and Ontario, and now the North has entered onto its radar.
The investment fund, which is based in southern Ontario, is a unique solution for existing producers who are looking to take a bigger risk with land acquisition and development than what a traditional bank loan can offer.
"Everything has to be in alignment, which is the hard part," said Joelle Faulkner, who runs the venture with her brother, Benji.
"You have to have a person that wants to partner, you have to find the proper property for them, they have to have a plan that is growth on what they're already doing, and they have to be interested and excited about it."
The business model is designed around building partnerships through which farmers can expand their operations without paying fees, rent or interest.
Area One works with backers who invest in property, land improvements, equipment and other expenses associated with farming.
The farmer is then able to maintain financial stability while growing the business. Profits are shared between operators and the investors.
The idea was hatched from personal experience.
A decade ago, the Faulkners, whose family has a long history in agriculture in southern Ontario, wanted to grow their own operation by purchasing a neighbouring farm.
The family didn't want to take on additional bank debt, but couldn't find investors to partner with them, and so the investment went unrealized.
Area One aims to offer farmers the opportunity the Faulkners were denied.
The company hasn't yet secured any agreements with Northern Ontario producers, but the Faulkners are intrigued by the opportunities presented by the fertile land of the Northern...
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