Michigan Good Food Fund: Catalytic Investment Award - Round 4
November 8, 2019
The Michigan Good Food Fund is providing $250,000 in Catalytic Investment Awards to support enterprises that increase access to healthy food in Michigan.
Awards will be made by Capital Impact Partners, the Michigan Good Food Fund administrator, to enterprises that demonstrate a clear ability to increase the availability of affordable, healthy food and create jobs in the community, and be ready for debt financing within 18 - 24 months. The average award amount is expected to be $50,000.
Who Is Eligible to Apply? Michigan good food enterprises that are generating revenue and will utilize the award to scale the business and prepare for debt financing to support growth within 18 - 24 months. An eligible enterprise can be a non-profit organization, cooperative, or for-profit entity.
Awardees must be able to travel to Detroit on December 12, 2019 to engage in a collaborative process with other awardees to determine the final amount of each award. All awardees will receive a minimum of $10,000. Through a facilitated process, each awardee will allocate an additional $40,000 to peer projects among the group.
What is a Good Food Business? A good food business is a food enterprise that grows, processes, distributes, makes, and/or sells healthy foods – whole, natural, and minimally processed – making them accessible and affordable to residents at all income levels. Preference will be given to businesses owned by entrepreneurs of color and women and to businesses that create jobs in Michigan, source locally, and are good environmental stewards.
Permitted Award Uses. Uses include feasibility studies, business planning, predevelopment expenses, project management, construction, equipment, working capital, or inventory.
How to Apply? Apply through this website. All applications must be submitted online by 11:59 pm Eastern Time, November 8, 2019. Awards will be announced in early December.
The Michigan Good Food Fund is a $30 million loan fund that provides financing and business assistance to good food enterprises that benefit underserved communities across Michigan. Priorities include supporting increased access to healthy, affordable food; job creation; racial and social equity; environmental stewardship; and local sourcing. Learn more at MIGoodFoodFund.organd sign-up for updates at http://migoodfoodfund.org/email-signup/.