UMass agriculture fund expands bank loan options

AMHERST —A fund at the College of Massachusetts is giving the opportunity to apply for a considerable, no-curiosity personal loan to any graduate to assistance agricultural functions.

Loading...

Load Error

The Lotta Agricultural Fund was established in 1924 to offer interest-absolutely free loans to Stockbridge University of Agriculture graduates to guidance their agricultural food stuff creation enterprises. The fund is now open to any UMass Amherst graduate engaged in agricultural activities, but desire will be specified to Stockbridge alumni.

To utilize for a mortgage, candidates should mail a letter to the basis that oversees the fund. The letter need to consist of applicant’s title, significant discipline of analyze, and 12 months of graduation from UMass Amherst, the size of the bank loan being sought, preferred timing for disbursement and payback interval (up to 10 several years), and earlier and current encounter similar to agricultural production considering the fact that graduation.

It really should also involve the identify, location and description of farm or other agricultural small business wherever funds would be used the sizing of the farm in acres or other acceptable measurements relating to agricultural creation its operational identification as retail, wholesale or both aspects of how a mortgage would be employed to improve or develop the operation and any added pertinent aspects.

All loans must be secured by assets of larger benefit, normally the farm and land itself.

A lot more information and facts about making use of for a bank loan can be identified at the Stockbridge School of Agriculture site. The web site includes a call type for applicants’ inquiries.

The fund was founded with a donation from actress Charlotte “Lotta” Mignon Crabtree, who received her begin entertaining miners in Gold Rush camps in California. As her job grew on phases in California and New York, she became identified as “The Nation’s Darling” and some proclaimed her “America’s first superstar.”

Ignoring the notions of suitable etiquette for gals in her time, she available a bawdy design and style of leisure, significantly like Mae West, whom she later on influenced. Crabtree’s marketing pics show her smoking thick cigarillos and wearing men’s garments.

She under no circumstances married and attained good wealth through her operate, purchased land in several states and curated philanthropic funds for the social superior. Prior to her dying in 1924, Crabtree set up quite a few charitable funds, which include the Lotta Agricultural Fund at Stockbridge.

Continue on Examining