$1 Million in Loans for Detroit's Healthy Food Businesses
Through a partnership with the Michigan Good Food Fund, the Detroit Development Fund recently announced that it plans to make $1 million in loans available to healthy food companies in Detroit.
Launched in 2015, the Michigan Good Food Fund is a $30 million public-private partnership loan fund supporting good food enterprises that benefit underserved communities in Michigan.
The combined effort will provide funds over the next five years to Detroit entrepreneurs engaged in healthy food production, distribution and processing and retail projects that benefit undeserved communities throughout Michigan.
Partners and funders of the effort include Capital Impact Partners, which underwrites larger loans; Fair Food Network, Michigan State University Center for Regional Food Systems and the W.K. Kellogg Foundation, with lenders Northern Initiatives and now the Detroit Development Fund.