Slow Money Hawaii

Slow Money Hawaii is creating a powerful new way for our community to support regenerative farmers and food entrepreneurs. By connecting caring lenders with island growers who need affordable capital, the organization is helping grow more local food, preserve agricultural land, and strengthen Hawaiʻi’s food security—one meaningful loan at a time.

Slow Money Hawaii Supports Local Farmers

Thrive Family Farm on Oʻahu
Thrive Family Farm Oʻahu. The Witte family took out three successive loans of $25,000 each to purchase land and install growing tunnels, such as shown.

While Slow Food Oʻahu brings people together to support and enjoy good, fair food, Slow Money Hawaii brings local farmers and food entrepreneurs together with money--so that they can grow and make more food for the islands. The volunteer effort specifically aids farmers who use regenerative farming practices, with the overarching goal of increasing food security in Hawaiʻi and preserving agricultural lands.

According to Slow Money Hawaii founder Mary Spadaro, it is particularly hard for small farmers and food entrepreneurs to access affordable capital to grow their businesses because, “loans from typical institutional lenders are either too expensive or have stringent requirements beyond what a small or start-up farmer can meet. Banks are not sympathetic to the variables that are an accepted part of farming.” The recent, devastating Kona low storms are tragic illustration of risks that farmers embrace, and strive to survive.

The Banana Source on Oʻahu
The Banana Source (Oʻahu). Gabe Sachter borrowed $20,000 to buy a pull-behind mower for his tractor.

The local effort is part of an international Slow Money movement inspired by the Slow Money Institute, which started in 2009 in Boulder, Colorado. Spadaro emphasizes that while pairing lenders with farmers is important, a driving impetus for her in founding Slow Money Hawaii was to give the community another way to express support for local, sustainable agriculture. “I do this because I want people to have a relationship with their food and the farmers who grow it. This seems especially important for us as an island community.” She points out that another benefit is the relationships that can grow between lender and farmer. “One of our first loans was from a senior farmer who approached us, wanting to lend to a farmer nearby who was just starting up. That junior farmer was Julius Ludavico, owner of J Ludavico Chicken, and he has since told me that ‘the money was great, but the mentorship was even more meaningful.’”

Lava Meats on Hawaiʻi island
Lava Meats (Hawaiʻi). Leslie Carroll borrowed $12,000 to purchase a new, better meat grinder for her all-local sausages.

Since Slow Money Hawaii’s start in 2017, the organization has made 31 loans across the island chain, totaling about $650,000, according to Spadaro. The loans have involved 80 lenders, most of whom are lending on the order of $2000, and many of whom are lending over and over again. “The farmers are typically getting loans of $20,000 to $60,000,” she says, “and the repayment rate has been phenomenal, probably because borrowers and lenders are essentially neighbors.” Spadaro facilitates the loans by introducing lenders to farmers and outlining the loan process for them. The loans are typically very short term and low interest. “We’ve been growing by word of mouth. Now, some lenders are sticking a toe in to make larger loans, for instance to Farm Link Hawaiʻi and Hawaiʻi ʻUlu Cooperative,” she says.

Slow Money Hawaii is a lean operation: Spadaro takes no salary and has the help of a part-time administrative person through grant funding from Ulupono Initiative. It is also a trustee of the KIVA global on-line lending platform, meaning it can provide Hawaii-based borrowers useful endorsement when they seek funds through that program. The KIVA nonprofit operates internationally to crowdfund for individuals engaged in all types of entrepreneurial endeavors. Slow Money Hawaii has 120 members on a KIVA lending network. Network members are notified whenever a Hawaiʻi-based food producer or farmer (already endorsed by Slow Money Hawaii) launches a loan on KIVA.

Pono Pies on Maui
Pono Pies (Maui). At the birth of Pono Pies, John Cadman got a $10,000 loan to print product labels in bulk.

If you are a community minded person who wants another way to ‘put your money where your mouth is’ about supporting sustainable local agriculture, reach out to Spadaro through the Slow Money Hawaii website.