Chicago Community Loan Fund
Chicago Community Loan Fund (CCLF) is using HFFI financing to fund a pipeline of projects that include innovative approaches to food production such as urban farms, creative additions to food processing such as business incubators, and the addition of distribution centers such as farmers markets and supermarkets in underserved areas. One project is the TurkeyChop in Chicago, Illinois, a restaurant that makes a difference in communities of color that lack healthy choices by providing leaner meat options with less fat and salt. You can find more information here.
Source of money: HFFI CDFI-Financial Assistance Program
Emerson Park Development Corporation
The Emerson Park Development Corporation is using HFFI financing to create a supermarket in the Vieux Carre Shopping Plaza in a part of East Saint Louis, Illinois, that is underserved by grocery stores. The 14,535-square-foot supermarket will increase healthy food access for thousands of local and rural consumers. The project will create 24 jobs, of which 18 will be reserved for low-income individuals. These jobs will provide livable wages with benefits and career development opportunities. You can find more information here.
Source of money: HFFI CED Program
IFF
IFF used HFFI financing to establish the Healthy Food Access Program to finance both forprofit and nonprofit grocery stores in areas without access to fresh and healthy food. IFF has funded five grocery projects to date, including two in Illinois, and it has a pipeline of potential deals to fund in 2014. In Chicago, IFF funded Saver's Fresh Market Roseland, a 15,000-square-foot grocery store that is expected to create 19 jobs. IFF also funded the East St. Louis Save A Lot, a 14,000-square-foot grocery store that will host an in-store dietician and create 35 full- and part-time jobs. You can find more information here.
Source of money: HFFI CDFI-Financial Assistance Program
Note: IFF is a CDFI headquartered in Illinois that is using HFFI financing in Iowa, Missouri, and Wisconsin.