If your small business increases access to healthy food for Michigan children & families in underserved communities…
What is the Michigan Good Food Fund?
Michigan Good Food Fund is a new $30 million public-private loan and grant fund created to finance healthy food production, distribution, processing, and retail projects that benefit underserved communities across Michigan. The Fund’s approach to financing is mission driven, they may invest in your project when traditional sources are not an option.
Businesses can apply to the Fund for up to $250,000 in financing through Northern Initiatives.
Projects financed through the Fund could include:
- A Full-Scale Supermarket looking to remodel an existing site to accommodate more cases for produce, fresh meat, and dairy.
- A Mobile Market needing investment in vehicles and refrigeration to bring fresh, affordable product into underserved communities
- A Processing Facility needing additional machinery and equipment to support expansion into new product lines or to support additional volume.
- A Food Incubator in need of tenant improvements and equipment to provide commercial spaces for smaller food entrepreneurs.
- A Food Hub needing upgraded refrigeration space and loading platform improvements to better supply good food to corner retail and schools in under-served areas.
- An Entrepreneur acquiring machinery to expand her business in drying, packing, and delivering dried local fruit.
- A Producer purchasing higher-capacity equipment that would improve yield and increase sales.
- A Corner Store looking to renovate store layout and acquire necessary equipment to sell fresh fruits, vegetables, and meats.
- A Food Cooperative seeking working capital to purchase more inventory to meet growing demand.
- A Farmers Market seeking financing for improvements to a permanent site, whether it be for infrastructure costs, facade upgrades, or acquisition of a leased or owned facility.
- A Farmers Market Vendor in need permanent working capital to finance inventory in order to increase volume to be able to sell at farmers market.
Questions? Contact Chris Wendel.
Like any other loan Northern Initiatives offers, every one of these loans comes with complimentary access to a suite of practical trainings and tools that matter most – money, marketing, and management.