Karen Washington and Olivia Watkins, co-founders of the Black Farmer Fund, are making significant progress in empowering Black-owned agricultural enterprises. After raising $11 million to support wealth-building initiatives in September 2023, they have now reached their target for a second fund, which will allocate $20 million to support Black-owned farms in the Northeast.
This initiative is crucial for the African American agricultural community as it aims to enhance their market presence. Based in New York City, the nonprofit has expanded its reach and secured a second fund to deploy $20 million in capital to strengthen the Black food system in the Northeast. According to AfroTech, the second fund will provide low-interest loans and grants to food businesses, helping Black farmers gain more control over the supply chain. Historically, Black farmers have faced systemic obstacles, including loan discrimination, which has resulted in land loss and reduced income, making the Black Farmer Fund’s mission essential for economic empowerment.
In July 2024, the Biden Administration also addressed these inequities by announcing $2.2 billion in aid for Black farmers affected by racial discrimination, especially in states like Mississippi and Alabama. This federal support, alongside the Black Farmer Fund’s efforts, reflects a growing commitment to addressing the challenges faced by Black farmers and working toward lasting solutions.
The Black Farmer Fund has already allocated $2 million to businesses aligned with its mission. These businesses include New England Sweetwater Farm and Distillery in New Hampshire, Nourrir in New York, Global Village Foods in Vermont, and Edenesque in New York. These companies are expected to contribute to the Fund’s goals by promoting sustainable farming and creating opportunities for Black farmers to enter the market.
Olivia Watkins, co-executive director of the Black Farmer Fund, expressed enthusiasm for supporting these businesses through BFF Fund 2.0. She emphasized that these enterprises embody the Fund’s commitment to fostering sustainable agriculture, strengthening local economies, and building a more equitable food system.
