Capital Impact Partners
Capital Impact Partners (CI) uses HFFI financing to support the Michigan Good Food Fund, an initiative that will expand access to healthy food for underserved Michigan residents by linking local food production with local retail. The Michigan Good Food Fund will provide grants and loans to projects that expand marketing opportunities for local food producers. Grants of up to $150,000 and loans of $250,000+ will be available to healthy food retailers, including producers, nonprofit organizations, commercial grocers, and food hub operators. The initiative launched in early 2014. You can find more information about Capital Impact Partners here and about the Michigan Good Food Fund here.
Source of money: HFFI CDFI-Financial Assistance Program
Note: Capital Impact Partners is a CDFI headquartered in Virginia, but Capital Impact Partners is using HFFI financing to work in California and Michigan.
Local Initiatives Support Corporation
The Local Initiatives Support Corporation (LISC) uses HFFI financing to expand healthy food options in low-supermarket access areas. LISC has approved four healthy food loans in Michigan. In Detroit, LISC helped finance interior improvements at Seven Mile Foods so this 18,000-square-foot grocery store could offer more fresh foods. LISC also funded the expansion of Parkway Foods, which will expand to 32,000-square-feet and relocate to serve the Jefferson Village housing development. This project will create at least 15 new jobs and retain 23 positions. In Flint, LISC financed the relocation and expansion of the Flint Farmers Market, and in Kalamazoo, a LISC loan supports the Park Street Market, the only full-service grocery store in the area. You can find more information here.
Source of money: HFFI CDFI-Financial Assistance Program
Note: The Local Initiative Support Corporation is a CDFI headquartered in New York, but the Local Initiative Support Corporation is working in Michigan.