Iroquois Valley was started in 2007 to provide land access to those who want to farm organically. As David Miller, Co-Founder, says, “We built our business to support the businesses of our farmers.”
Iroquois Valley starts with the farmer.
You decide on the land that works for you and bring that opportunity to the company. We know that you may need particular land to build your operations, properties that may just come on the market once in a lifetime. We are not a farmland trading company. We provide family farmers the land security and financial support that will help you regenerate soils and build businesses.
Who are our farmers?
Our farmers grow beans, corn, legumes, hay, wheat, nuts, fruits, vegetables and more; they milk cows and raise beef cattle, chickens, pigs and ducks. They farm more than 30,000 Iroquois Valley-purchased or -financed acres in 19 states. Many of our farmers are millennials. Most are from established farm families.
Who we work with:
We are looking for farmers who want to improve their soils while growing healthy food. Iroquois Valley invests only in those who have farming experience, usually with organic production or grass-based operations, and who have a financially viable operation. It is helpful if you have a family history of successful farm operations, but we know not all have had that opportunity. Our farmers make their own business decisions and run their own operations. We will help you through your challenges so that you will thrive.
What are our terms?
When we purchase land for you to farm, we provide five-year leases, with automatic two-year renewal provisions. Our goal is to provide you a lifetime lease, if that is what you want. Rent is based on the purchase price of the land. There is a base rent and then a variable rent payment when your operation reaches a certain level of revenue. We would work with you to create a fair economic structure for you and for us.
For our mortgage funding, we provide five-year fixed rate terms with interest-only payments (no principal). Our mortgages also have renewal provisions. We have provided refinancing, to help farmers consolidate their debt, as well as financed new purchases. We will provide more specifics as we begin discussions with you.
For lines of credit, we offer one to three years with renewable terms. We understand that cash flow is a barrier to farm profitability and that there is need for both land security and operating capital. In our analysis process, we take into consideration practices that build soil health and increase conservation to determine risk and rates.
May a farmer buy the land after leasing?
Once a farmer has completed seven years on the lease, they have the ongoing opportunity to purchase the farm in question. There is no obligation to purchase, however. For many of our farmers, having lifetime, secure rental arrangements are the best option as they build their operations and purchase land elsewhere.
Who funds Iroquois Valley?
Iroquois Valley is a public benefit corporation, which means we — and our 750 investors — want a financial return but we want to make sure that return is consistent with our values as well. These investors provide capital for the company with the understanding that the company needs that money long- term in order to help farmers. Our investors live in more than 45 states and five countries.
(c) 2023 Iroquois Valley Farmland REIT, Public Benefit Corporation