| Jun 25, 2013
Danish Daily is a multi-generation organic farm. Started in 1976 by Ellis and Dorothy Foster, Danish Dairy has grown to be the largest dairy on the south coast of Oregon with 800 cows. The dairy has not only grown in milking cows, but also in profitability, efficiency and sustainability. Today, the farm is operated by Ellis and Dorothy’s children, Floyd, Carl and Madelyn.
Despite Danish Dairy’s success, securing financing was difficult. The family found many banks were hesitant to make loans to a farm where income can fluctuate. This was the case in 2008 when Danish Dairy needed a loan for working capital. In 2013, the siblings faced the same situation when they sought financing to construct two new barns on the Coquille farm. In both instances, Craft3 was able to help by taking a different approach.
Craft3 looks at income projections for industries like farming and fishing and structures its loans accordingly. It took this approach into consideration when crafting loans for Danish Dairy in 2008 and again in 2013. With financial assistance from Craft3, Danish Dairy was able to construct a dry cow barn and a replacement loafing barn to relieve overcrowding, which reduced mortality rate and increased milk production.
Craft3’s investment in Danish Dairy enables entrepreneurs to become critical forces in the communities where they live, strengthening economic resilience.