Three-year agricultural loan program delivers environmental and financial benefits to farmers

Published: June 29, 2026 by Maggie Monast

In 2022, Farmers Business Network (FBN), in collaboration with Environmental Defense Fund and Gradable, launched the Regenerative Agriculture Financing (RAF) Operating Line program. Results from the three-year program demonstrate the value of rewarding farmers for implementing sustainable practices that build resilience and support farmers’ financial health.

Designed to recognize the long-term value of sustainable farming practices, the program provided a 0.5% interest rate rebate to grain farmers for meeting soil health and nitrogen management standards developed by EDF.

Farmer interest in and enrollment in the RAF program was strong from the start, with the program’s 2022 launch becoming FBN’s fastest-selling financial product. The $25 million pilot fund expanded to $64 million by the program’s third year.

Key results from the program’s three-year run:

Farmers who met the RAF environmental standards had lower nitrogen losses to water and air compared to the national average.
Farmers using winter cover crops and in-season fertilizer applications had improved nitrogen management outcomes, helping them maintain crop yields, minimize excess nutrients and support long-term soil health.
Participation increased each year, generating a large-scale dataset spanning more than 80,000 acres of working farmland.

Three-Year Summary

Three-year summary of soil health and nitrogen stewardship outcomes from the Regenerative Agriculture Financing Operating Line program.

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Report cover for "The regenerative agriculture financing program"

Interest in the RAF Operating Line program demonstrated strong farmer demand for loans that reward growing practices that build resilience, reduce input costs and deliver environmental benefits. Results from the program also provided valuable insights for agricultural lenders interested in supporting farmers’ efforts to build resilience and protect soil health. Together, these findings highlight a clear opportunity to scale regenerative agricultural finance through partnerships across lenders, food and agriculture companies and impact investors.

As of 2025, FBN Finance no longer offers operating lines, however, the company continues to build on the RAF program’s impact through a land loan version currently available to interested farmers.

Learn more about the RAF Land Loan program

Join us for a webinar on July 14 at 12PM ET to learn about key findings and insights from the RAF Operating Line program. Register here.