Michigan healthy food loan fund passes $10M in investments
A loan fund designed to boost access to healthy food in underserved Michigan communities has made more than $10 million in investments.
The two-year-old Michigan Good Food Fund announced Wednesday it surpassed that mark through financing six enterprises in southeastern Michigan, Grand Rapids, Kalamazoo and the Upper Peninsula.
The $10.5 million in financing also aims to spur economic opportunity through the creation of community stores, cafes and food processing centers.
Projects include a Kalamazoo market anchoring a rehabilitated retail strip and a healthy food cafe in a Marquette library. Another recipient is a kitchen and processing center in the Detroit suburb of Inkster serving three food companies.
The public-private partnership includes the W.K. Kellogg Foundation, Fair Food Network, Michigan State University's Center for Regional Food Systems, and Capital Impact Partners.