Blue Ridge Bank Government-Guaranteed Lending staff originated and underwrote this $75,000,000 loan combination, guaranteed by the USDA Business and Industry, USDA Rural Energy For America, and USDA Food Supply Chain guaranteed loan programs, to Trellis Loop Florence, LLC (80 Acres Farms). The project involves purchasing and renovating an existing building into a state-of-the-art, hydroponic, vertical farming operation. Loan proceeds will equip the building with the necessary machinery and equipment to create a 100% climate-controlled environment for producing, harvesting, packaging, and distributing leafy greens, microgreens, berries, and tomatoes.
"80 Acres Farms was created after spending 30 years in the food industry and realizing that our food system is broken. Mother Nature is so unpredictable that it leaves our farmers struggling every year. Prices are unpredictable, the produce quality is unpredictable, and the supply is unpredictable. We can't always get the produce we want whenever we want it. Indoor farming is the better way. So we created 80 Acres Farms." -Mike Zelkind, Co-Founder, and CEO.
