The Carrot Project
The Carrot Project is a Boston-based nonprofit providing financial coaching, business consulting, training, and loan facilitation to farm and food businesses across New England, with a primary focus on serving BIPOC, women, and low-income farmers.
- Company typePrivate
- Founded2010
- HeadquartersBoston, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What The Carrot Project does
The Carrot Project is a Boston-based nonprofit organization (501(c)(3), founded 2006) that supports agricultural businesses through financial coaching, business consulting, training, and facilitated access to capital. Operated as a fiscally sponsored project of Third Sector New England, Inc. (TSNE), the organization primarily serves farmers, fishers, and food entrepreneurs across New England—Massachusetts, Rhode Island, Connecticut, New Hampshire, and Maine—with referrals possible for Vermont and New York. Approximately 90% of clients are BIPOC, women, or low-income/limited-resource farmers, with a stated annual goal of reaching 400 farmers and food businesses. Client outcomes reported include an average +$20,000 change in net income per client, a 52% average net-income increase over two years (2015 NESARE study), and a 62% net-income increase in one state program after two years of business planning support.
The organization's core offerings include 1-on-1 business coaching and consulting, a loan program facilitating $5,000–$250,000 in capital through partnerships with PVGrows Investment Fund and Franklin County CDC (with Massachusetts Society for the Promotion of Agriculture providing additional loan guarantees), and hands-on workshops delivered primarily during the agricultural off-season (October through March). Notable educational resources include the USDA FSA-approved "Making It Happen" curriculum (approved in MA, NY, CT, and RI), free Excel-based financial templates in basic, intermediate, and borrowing-specific versions, and a pre-recorded Farm Financial Video Series. The Carrot Project also operates the Agricultural Viability Alliance—a network connecting farm, food, and forestry viability advisors in New England and the Hudson Valley—and hosts the biennial National Farm Viability Conference.
The Carrot Project is funded primarily through donations and grants, supplemented by sliding-scale workshop fees and loan-program administration support. Core staffing consists of approximately 10–15 staff and contractors, led by Executive Director Benneth Phelps (the organization's first full-time employee in 2011 with 12+ years of on-the-ground experience, formerly Director of Farmer Services at Dirt Capital Partners) and Deputy Director Julia Grigg. Beyond direct service delivery, the organization has been active in federal policy advocacy for over a decade—its research was instrumental in pressing for the USDA FSA Microloan program in 2011, and it continues to lead multi-organization coalition efforts for FY2026 and FY2027 USDA appropriations supporting farm viability programs.
The Carrot Project firmographics
Firmographics- Name
- The Carrot Project
- Legal name
- The Carrot Project
- Website
- https://thecarrotproject.org
- Company type
- Private
- Founded year
- 2010
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- The Carrot Project is a Boston-based nonprofit providing financial coaching, business consulting, training, and loan facilitation to farm and food businesses across New England, with a primary focus on serving BIPOC, women, and low-income farmers.
- Ownership category
- akta.pro rank
The Carrot Project industry classification
Industry- Product category
- Nonprofit Agricultural Business Services
- NAICS
- Farm Management Services (115116)
- SIC
- Agricultural Services (700)
- akta.pro primary industry
- Capital Projects & Farm Expansion Advisory (Feasibility, Site Planning, ROI) (AFACAJAN)
- akta.pro secondary industry
- Agriculture & Food Security Development (BPAGABAB)
Keywords
Where The Carrot Project is headquartered
LocationHeadquarters
- HQ city
- Boston
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
The Carrot Project business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Others
Revenue model
- Donations and Grants: The Carrot Project is a nonprofit organization that relies on donations and grants to fund its programs. Donations support providing training and resources to 400 farmers and food businesses annually. The organization is a fiscally sponsored project of Third Sector New England, Inc. (501(c)3).
- Program Service Fees: Fees for training workshops offered on a sliding scale to increase equity and accessibility. Some workshops are free while others have modest fees ($38 for professional development events). Business consulting may be free or subsidized depending on location and household income.
- Loan Program Administration: The Carrot Project facilitates loans of $5,000-$250,000 through partnership with PVGrows Fund and Franklin County CDC. They provide loan application assistance and technical support but are not the primary lender.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Freemium | Monthly | Free/Subsidized Services for Low-Income Farmers |
| Subscription | One time | Workshop Training Fees |
| Other | Monthly | Loan Program ($5,000-$250,000) |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels7 records
The Carrot Project product offering
Product offeringCore offering
The Carrot Project provides 1-on-1 business coaching and consulting, facilitates farm and food business loans of $5,000–$250,000 through partner lenders, and delivers hands-on financial management workshops and digital educational resources to farm and food entrepreneurs in New England. It also operates the Agricultural Viability Alliance and the National Farm Viability Conference to build sector-wide capacity.
Product overview
The Carrot Project offers a comprehensive suite of programs and services to support farm and food business viability. The core offerings include 1-on-1 coaching and business consulting, loan programs ($5,000-$250,000), and trainings/workshops. These are complemented by educational resources including the Farm Financial Video Series (a free video course on financial reports), Financial Templates (free Excel tools in Basic, Intermediate, and Borrowing-Specific versions), and Research and Reports. The organization also hosts the Agricultural Viability Alliance (a regional advisor network) and the National Farm Viability Conference. A Fellowship program provides professional development in farm viability and access to capital. Notable workshop series include 'Making It Happen' (approved for USDA borrower training) and 'Deepening Roots, Growing Success' (for urban farmers). Services focus on financial management skills, business planning, and access to capital for agricultural entrepreneurs.
Differentiator
Problem solved
Functional benefit
Products and services
- 1-on-1 Coaching and Business Consulting One-on-one coaching and business consulting services that help farmers and food business owners achieve greater financial management expertise and confidence in making business decisions. Delivered by staff and contractor advisors, often free or cost-shared based on location and household income.
- Loan Programs Loan programs facilitating capital or operating loans of $5,000 to $250,000 to farm, forestry, and fishery businesses, and to processing, distribution, and storage enterprises. Loans are available for businesses that may not qualify for financing elsewhere, with technical assistance bundled alongside capital access.
- Trainings and Workshops Hands-on, skills-based trainings and workshops targeted to local farm and food producers, focusing on bookkeeping and financial management skills. Workshops are offered on a sliding scale with priority for BIPOC farmers, and include both in-person and virtual formats.
- Making It Happen: Profitability and Success Training Interactive training series teaching financial management tools including cash flow budgeting, scenario planning, enterprise budgeting, and sensitivity analysis. Approved as USDA FSA borrower training in multiple states.
- Deepening Roots, Growing Success Business training program for urban farmers and locally-sourced food processing operators covering accounting, financial management strategies, legal issues, and access to capital.
- Financial Templates Free Excel-based financial templates developed specifically for small farm financial planning, available in Basic, Intermediate, and Borrowing-Specific versions for general or annual financial planning and loan application requirements.
- Farm Financial Video Series Pre-recorded video course explaining how to use The Carrot Project's tools and templates. In under 10-minute segments, the course covers profit and loss, balance sheets, and cash flow reports to provide clarity over farm finances.
- Agricultural Viability Alliance A program connecting farm, food, and forestry viability advisors in New England and the Hudson Valley, offering regional professional development and mentorship, and national advocacy for consistent funding for business technical assistance.
- National Farm Viability Conference A national conference bringing together farm viability professionals for peer-to-peer learning and networking, focused on strengthening farm sustainability, building resilient local food systems, and supporting long-term profitability of farming enterprises.
- Farm Viability and Access to Capital Fellowship A two-year temporary position (extendable to four years maximum) combining relationship building and business/financial education for partner organizations and farm/food entrepreneurs, focused on sector transformation and serving underserved farmers.
Quantifiable outcome
- Clients realize +$20,000 change in net income after accessing business assistance, financing, and training
- +4 more outcomes
Companies that use The Carrot Project
Customer profileNamed customers10 records
Segments4 records
Ideal customer profiles2 records
The Carrot Project technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
The Carrot Project partnerships and signals
Strategic signalPartnerships
14 partnerships are on record, tiered core and minor.
- Third Sector New England (TSNE)coreFiscal sponsor providing back office capacity including accounting, audit, contracts, fiscal sponsorship, and HR. The Carrot Project is a fiscally sponsored project of TSNE, a 501(c)3 organization.
- American Farmland TrustcoreLong-term research and policy partner. Co-led development of The Blueprint for regional network of organizations supporting farm and food business viability. Partners on Agricultural Viability Alliance.
- Communities Involved in Sustaining Agriculture (CISA)coreProgram collaborator providing support for local farm and food businesses in Massachusetts.
- Hudson Valley Agribusiness Development CorporationcoreProgram collaborator working on projects for local farm, fishing, and food businesses in the Hudson Valley region.
- Agricultural Viability AlliancecoreA program of The Carrot Project that connects farm, food and forestry viability advisors in New England and the Hudson Valley. Serves as backbone organization for National Farm Viability Conference.
- University of Vermont Cooperative ExtensionminorResearch partner from the Measuring Profitability and Success study (2015).
- Maine Organic Farmers and Gardeners Association (MOFGA)minorResearch partner from the Measuring Profitability and Success study (2015).
- Coastal Enterprises, Inc.minorResearch partner from the Measuring Profitability and Success study (2015). Maine-based community development financial institution.
- New Entry Sustainable Farming ProjectminorProgram collaborator working on sustainable farming projects.
- Southside Community Land TrustminorProgram collaborator working on agricultural projects.
- UCONN Cooperative ExtensionminorProgram collaborator providing agricultural extension services.
- Vermont Farm & Forest Viability ProgramminorProgram collaborator supporting farm and forest viability.
- Land and Sea TogetherminorProgram collaborator working on local food system projects.
- MGCC Small Business Technical Assistance Grant ProgramminorProgram collaborator providing small business technical assistance.
Scale indicators7 records
Recent moves7 records
Expansion highlights5 records
The Carrot Project competitors and assessment
Company assessmentDirect peers
- Communities Involved in Sustaining Agriculture (CISA): Western Massachusetts-based nonprofit supporting local farms and food businesses through technical assistance, training, and farm-to-institution programs. Listed program collaborator of The Carrot Project, serving overlapping New England farmers.
- PVGrows Investment Fund: Pioneer Valley impact investment fund providing loans and equity to farms and food enterprises in MA, CT, RI, NH, and ME. Core lending partner of The Carrot Project with directly comparable ag-focused lending and technical assistance integration.
- Franklin County Community Development Corporation: Western Massachusetts CDFI providing small business loans including to farms and food enterprises. Core lending partner that holds final approval authority on The Carrot Project's loan program, operating a directly comparable model.
- Coastal Enterprises, Inc. Maine-based community development financial institution (CDFI) providing loans, technical assistance, and business advising to farms, fisheries, and food businesses. Listed research partner of The Carrot Project, with directly comparable farm business lending plus advising model.
- American Farmland Trust: National nonprofit focused on farmland preservation and farm viability. Already a research/policy partner of The Carrot Project, with overlapping mission around farm business technical assistance and federal Farm Bill advocacy.
- Dirt Capital Partners: Impact investment firm connecting farmland investors with farmers through lease-to-own and other arrangements. Executive Director Benneth Phelps previously worked here, and the model overlaps Carrot's mission of removing financial barriers to farm viability.
- Hudson Valley Agribusiness Development Corporation: Regional ag development corporation serving the Hudson Valley with business advising, technical assistance, and capital access for farm and food businesses. Listed program collaborator of The Carrot Project, with directly comparable model.
- Vermont Farm & Forest Viability Program: Statewide Vermont program providing in-depth business planning, financial analysis, and technical assistance to farms and forest products businesses. Direct functional peer, listed program collaborator, with nearly identical coaching-plus-capital-readiness model.
Broad incumbents
- SCORE: National nonprofit network providing free small business mentoring, workshops, and educational resources. Overlaps The Carrot Project's coaching, financial education, and workshop-based advising model, but with a broader small-business scope rather than agricultural specialization.
- National Young Farmers Coalition: National farmer advocacy organization focused on policy, land access, and equity for beginning farmers. Comparable mission overlap with Carrot's BIPOC and first-generation farmer focus, broader national scope and policy profile.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
The Carrot Project social profiles
Digital presenceThe Carrot Project financial estimates
Financial estimateRevenue estimate
Valuation estimate
The Carrot Project leadership team
Management profileNumber of profiles
Profiles9 records
The Carrot Project funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
The Carrot Project M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about The Carrot Project
What does The Carrot Project do?
The Carrot Project provides 1-on-1 business coaching and consulting, facilitates farm and food business loans of $5,000–$250,000 through partner lenders, and delivers hands-on financial management workshops and digital educational resources to farm and food entrepreneurs in New England. It also operates the Agricultural Viability Alliance and the National Farm Viability Conference to build sector-wide capacity.
Is The Carrot Project a public or private company?
The Carrot Project is a private company. It is classified as nonprofit foundation owned and is currently operating.
When was The Carrot Project founded?
The Carrot Project was founded in 2010. It employs 11 to 50 people.
Where is The Carrot Project based?
The Carrot Project is headquartered in Boston, United States, in the North America region.
How does The Carrot Project make money?
Three revenue lines are on record. Donations and Grants are the primary driver. The others are program Service Fees and loan Program Administration.
Who are The Carrot Project's main competitors?
Direct peers on record are Communities Involved in Sustaining Agriculture (CISA), PVGrows Investment Fund, Franklin County Community Development Corporation, Coastal Enterprises, Inc., American Farmland Trust, Dirt Capital Partners, Hudson Valley Agribusiness Development Corporation and Vermont Farm & Forest Viability Program. Broad incumbents are SCORE and National Young Farmers Coalition.
Does The Carrot Project have an API?
No public API is recorded for The Carrot Project.
What industry is The Carrot Project in?
The Carrot Project's product category is Nonprofit Agricultural Business Services. Its primary akta.pro industry code is AFACAJAN, Capital Projects & Farm Expansion Advisory (Feasibility, Site Planning, ROI), with a secondary code of BPAGABAB, Agriculture & Food Security Development. Its NAICS code is 115116 and its SIC code is 700.