Michigan Good Food Fund
The Michigan Good Food Fund is a $30 million public-private partnership loan and grant fund financed by the Healthy Food Financing Initiative (HFFI) and a broad coalition of food sector, nonprofit, higher education, government, and philanthropic partners. Managed by Capital Impact Partners, the Fund provides support for healthy food production, distribution, processing, and retail projects that benefit underserved communities throughout the state which might not otherwise be covered by more conventional lenders. The Fund aligns with the priorities outlined in the Michigan Good Food Charter to provide patient capital and grants to “good food” entrepreneurs as well as business assistance to prepare them with their ventures and financing.
The Michigan Good Food Fund offers assistance to organizations and other entities that are promoting regional food initiatives, including those that are addressing racial disparities in food access and creating jobs with livable wages (McCann & Kelly 2016). As of November 2016, awards have been granted for two projects in Detroit and several others in cities across Michigan that will expand entrepreneurial opportunities in those areas and increase food access (Welch 2016).
Priority 10 – Make Michigan the place for good food, Priority 15 – Invest in regional food supply chain infrastructure, Priority 17 – Increase infrastructure & farmer participation in local food purchasing, Priority 20 – Include farming in economic development & educational and/or TA programs
McCann, N., & Kelly, R. (2016, September 8). “Michigan Good Food Fund for Local
Food Entrepreneurs.” Michigan Good Food. Retrieved September 19, 2016 from LINK.
Welch, S. (2016, November 15). “Michigan Good Food Fund grants to help launch
Detroit grocery store, expand farmers market.” Crain’s Detroit Business. Retrieved on November 16, 2016 from LINK.