LEXINGTON, Ky. (LEX 18) — A pipeline of support is strengthening the future of agriculture in Kentucky, from lender to non-profit to farm.
Farm Credit Mid-America recently announced a $250,000 investment in Black Soil KY, renewing a partnership that’s helping preserve and grow Black-owned farms across the state.
At Coleman Crest Farm in Lexington, this support is helping maintain a historical legacy that dates back to the post-Civil War era.
“My great grandfather and great grandmother, they bought this farm in March of 1888,” said Jim Coleman. “My great grandfather was born on this farm in 1845 as a slave, served in the 5th United States Colored Infantry Regiment of the Union Army, defeated the Confederates and came back home as a sergeant, and bought the farm he tilled as a slave for $1,200.”
As LEX 18 visited the farm on Thursday, fourth-generation farmer Coleman was teaching his student employees how to harvest potatoes.
After returning to Lexington following decades in New York, Coleman wanted to reimagine his historical family farm with organic farming, agritourism events, and a program for aspiring farmers.
“I’m pleased to tell you that because of Ashley Smith and Black Soil, mission accomplished,” Coleman said.
Black Soil KY, a one-of-a-kind agribusiness, exists specifically to support farms like Coleman’s. Since Ashley Smith launched the non-profit in 2017, it has invested more than $1 million into Black farming operations and agricultural businesses.
“We represent less than 1% of Kentucky farmers, so this tiny yet mighty sector has worked hard to defy the odds, while staying connected to their heritage and legacy in agriculture,” said Ashley Smith, CEO of Black Soil KY.
The organization operates through grants, agritourism activities, sales, and partnerships.
“Through the support of Farm Credit Mid-America, we’ve been able to build up the infrastructure of these family-owned farms. They’ve grown their market share five times over the five year period that we established our partnership with Farm Credit,” Smith said.
Following a successful 4-year partnership and $200,000 investment in Black Soil, Farm Credit Mid-America has announced a new 5-year partnership with a $250,000 investment.
Farm Credit Mid-America aims to support Black Soil programs that offer mentorship, training, and financial guidance to Black agricultural entrepreneurs, with the goal of increasing their market share and building long-term success.
“Day to day we lend money, but what we really look to do, how do we grow agriculture in the state of Kentucky?” said Mark Barker, Farm Credit Mid-America senior VP for ag lending in Kentucky.
According to Barker, growth in this sector requires a funding mechanism like Farm Credit, whose mission perfectly aligns with Black Soil.
“Our purpose is to secure the future of rural communities in ag. If you think of what our purpose is and what Black Soil is, perfect alignment. They’re growing ag, that’s our goal, to grow and see agriculture thrive, so it’s a good mesh for us,” Barker said.
