Detroit Food & Fitness Collaborative members and friends, and others who care about access to good food in Detroit, are welcome to join a launch event for the Michigan Good Food Fund. It will take place from 10:00 a.m. to 12:00 p.m. on Monday, June 22, at Shed Five in Eastern Market. RSVP here.
This is part two of a two-part series about the fund.
Michigan Good Food Fund is committed to supporting projects that benefit traditionally underserved communities through increased access to nutritious food as well as capital and job opportunities. It also encourages the sourcing of locally grown food and sustainable environmental practices. It presents an opportunity not only for entrepreneurs, but also for foundations and other investors looking to amplify their work for greater impact in service to low-income children and families.
The fund supports efforts across the value chain including healthy food production, distribution, processing, marketing and retail projects. It will offer financing through flexible, competitive loans as well as grant investments with a mission-driven approach, targeting those enterprises often overlooked by traditional sources of financing. Lending will be bolstered by business assistance to help entrepreneurs grow their ventures and build a pipeline of investment-ready projects.
The goal is to grow the fund to $30 million.
The new Michigan Good Food Fund is modeled after the pioneering Pennsylvania Fresh Food Financing Initiative, the California FreshWorks Fund, and other similar successful statewide efforts. However, unlike other healthy food financing initiatives, which primarily focus on retail efforts, the Michigan fund will work to create financial and social impact throughout the food supply chain.
About Michigan Good Food Fund: The Michigan Good Food Fund is a new public-private partnership loan and grant that provides financing and business assistance to healthy food production, distribution, processing, marketing, and retail projects that benefit underserved communities across Michigan. Join the fund on Facebook or Twitter @MIGoodFoodFund with the hashtag #MGFF.