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America (and the world at large) is in the midst of a major catastrophe. Natural ecosystems are collapsing and the people who have the power to reverse the damage that is being caused are unable to access the capital they need to do so. That’s where Steward comes in.
Dan Miller, the Founder and CEO of Steward, came to the realization that the traditional lending model used in the agricultural space favors large-scale producers of a limited scope of products, which is why he decided to design a private lending platform that provides regenerative farmers, fishers, ranchers, and producers with the resources they need to sustain and expand their enterprises.
In today’s episode, Dan shares the journey that culminated in the founding of Steward, and how he plans to use this innovative platform to build a future wherein our food systems are equitable, economically viable, and ecologically restorative.
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Key Points From This Episode:
Where Dan’s interest in agriculture originated and the journey that led him to found Steward.
Problems that farmers are faced with in terms of accessing capital.
How Steward loans are structured and the flexibility that they provide to their borrowers.
An exciting example of a project funded by revenue based financing.
Why Steward doesn’t take any spread and the model they have chosen to use instead.
What Dan has done from a regulatory point of view to make Steward work.
How subscribers interface with the Steward platform.
The way Steward is responding to historically excluded farmers.
Dan explains how Steward is funded.
The vision that Dan has for the future of regenerative agriculture.
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Tweetables:
“What I think is missing in agriculture is flexibility and customization. Our goal is to be designed around the needs of the farmer.” — @GoSteward
“Government policy defines the entire market. Government policy in America, historically and primarily now, is focused on large commodity production of a few products, so if you're outside of that system, there is very little capital available.” — @GoSteward
“Most businesses can’t raise any financing; banks won’t lend to them. With Steward’s model of financing, the broader issue is access to capital for small business. Our focus on regenerative agriculture is really just a subset of small business.” — @GoSteward
“Just like our own software raises financing from broad pools of people, we’re doing the same thing for our company.” — @GoSteward
“It has to work in terms of economics; the people paying for the food at a price that can cover labor costs make it worth it for the farmers and the owners. It also has to broaden access to that type of food.” — @GoSteward
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Links Mentioned in Today’s Episode:
Steward — https://gosteward.com/
Steward on Facebook — https://www.facebook.com/GoSteward/
Steward on Instagram — https://www.instagram.com/steward/
Steward on LinkedIn — https://www.linkedin.com/company/go-steward/
Dan Miller on LinkedIn — https://www.linkedin.com/in/dan-miller-0a41357/
Dan Miller on Twitter — https://twitter.com/GoSteward
Fundrise — https://fundrise.com/
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Show Notes + Other Links
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