Healthy Food Financing Initiative
HFFI is structured to help offset costs related to land, construction, or business start-up and operations. The amount of incentive, the criteria for qualification, and the regulatory conditions will vary depending on the program’s goals and the scope and size of the project budget. The HFFI may not make a healthy food project financially viable, but it intends to reduce the costs and financial risks of the project. The HFFI should be paired with a combination of other financial incentives including grants, other low-interest loans, and policy interventions to support healthy food retail.
Eligible Projects: Supermarkets and grocery stores serving USDA defined food deserts and other low-income neighborhoods; green grocers; neighborhood corner stores. Non-retail space for eligible healthy food activities, including farms, food hubs, food processing facilities and incubator kitchens.
Max Loan Amount: $100,000
Interest: 0%-2% (based on the debt coverage ratio of the project)
Term: Amortization over 120 months with no payments for the first 90 days after project start-up.