FROM PAGE 1 HELPING HAND

our building. And we did finish it, only because of their help. Without their help, we would have been stopped dead in our tracks.”

King estimated it might have taken a couple of years to build up enough collateral to finance the renovations had it not been for FarmWorks. He remembers sharing the good news with the rest of the family.

“Everybody was overjoyed because the roadblock that was put up for us just got taken down,” he recalled. “When they gave us the money, we continued with the renovations, opened up and here we are now a business that employs 22 people in the Annapolis Valley.”

King said repaying the loan quickly was a sense of pride for the family business as FarmWorks was there for the restaurant when they needed it.

“Our priority, when we got over that hump, was, ‘let’s pay these people back as fast as we can because they need the money to help other people.’

And we did.”

Linda Best, managing director and founder of FarmWorks, said the program has helped more than 100 businesses across the province since it was incorporated in 2011.

“People invest in Farmworks and we use that money to lend to farmers, and processors and distributors and stores and restaurants,” she said. “Those businesses have survived COVID, and they are producing more and more good food for us.”

FarmWorks sells shares through a Community Economic Development Investment Fund (CEDIF), which provides investors with a tax break.

“That’s a win for people who care where their food is coming from, who care for the local economy, for the communities they live in,” Best said.

In its first year, despite having no clients, it raised $224,000. Last year, in the middle of the pandemic, $783,000 was raised, bringing its total to more than $4 million since its inception. It has loaned out $6.6 million during its history. As money from one loan comes in, it can be reinvested in another business.

It tells Best their message of healthy farms, healthy foods, healthy people and healthy communities is resonating with investors.

“People are starting to get it,” she said. “COVID has done as much in eight months at that time to raise awareness of the necessity of producing our own food as we’ve been able to do, at that time, in 10 years. …

“People are beginning to realize that we need to go back to where we were, not in the way we do agriculture, but to the extent that we’re producing for ourselves.”

Best, who grew up in Somerset and lives in Greenwich, said it’s not just loaning money but also helping to mentor business owners and connect them with other businesses.

“We do our best to make sure that people succeed,” she said.

King said he can’t speak highly enough about FarmWorks. He said the process reminded him of a different era.

“It was like the old days when you went in and you told people your story, you showed them your records, you showed them your history and they believed you. They had faith in you and lent you the money.”

Best smiles as she thinks about driving around the province and seeing the businesses they have been able to help grow.

“You wouldn’t believe the number of people who tell us that they would not have been in business if it weren’t for FarmWorks,” she said.

Jonny’s, which runs seasonally, is expected to reopen in March and King said he often thinks about the helping hand FarmWorks offered them in a time of need.

“They pretty much saved us,” he said. “They put us right back on track and right back where we needed to be, and we haven’t stopped since.”