Local products in Whole Foods stores is providing up to $25 million in low-interest loans to independent local farmers and food artisans. They're proud to support small producers who need a hand, not a handout, to help them make their dreams a reality.
by Heather Callaghan
If you are expanding a local growing or food business, you might want to look to Whole Foods Market. Or, do you wish to convert your farm to organic?
They had success with their $10 million in fixed low-interest loans to over 150 businesses. So why not follow it up and keep the growing going?
They announced last Thursday that they have now committed $25 million in funding to their Local Producer Loan Program (LPLP). Since 2007, they have provided 184 loans to 155 companies. Funds are targeted to help local growers, producers and food artisans.
Whole Foods (WF) appears to be walking the walk to better local growing by sending money where it's needed – the small local growing pioneers. To people where it might otherwise be difficult to obtain a loan, or at least a low-interest one.
According to them, their first $10 million has enabled growth, but also went …