WASHINGTON, D.C. – On Wednesday, Jan. 18, U.S. Sen. Tammy Baldwin (D-WI) joined representatives from USDA, CoBank, Compeer Financial and other Farm Credit organizations to celebrate a milestone in the USDA’s Rural Business Investment Program: $1 billion in commitments.
On a dairy farm in Cambridge, Wisconsin, Baldwin saw technology developed by Isomark Health to detect bacterial and viral infections within 30 seconds in animals – before any visible signs occur – helping reduce fatalities and medical costs.
Isomark Health received investments and mentorship through the Innova Ag Innovation Fund, a Rural Business Investment Company (RBIC) funded by Farm Credit institutions and others. Innova and other RBICs are licensed to operate through the USDA’s Rural Business Investment Program.
The Rural Business Investment Program leverages funds from Farm Credit and others to provide rural entrepreneurs with the capital required to grow their businesses and help their ideas become reality. These businesses, in turn, bring jobs and economic development to rural areas while providing innovative solutions to the challenges facing rural communities and agriculture.
Since the first Rural Business Investment Company was founded in 2014, Farm Credit’s leadership in this arena generated capital commitments of more than $1 billion to more than 10 investment funds dedicated to advancing rural America. Farm Credit is proud to announce this important milestone and looks forward to continuing to grow its RBIC commitments into the future.
Farm Credit supports rural communities and agriculture with reliable, consistent credit and financial services, today and tomorrow. It has been fulfilling its mission of helping rural America grow and thrive for more than a century with the capital necessary to make businesses successful and by financing vital infrastructure and communication services. For more information visit www.farmcredit.com.