Announcing the CDFA Federal Policy Conference: April 14-15, 2020 in Washington, DC
The CDFA Federal Policy Conference will highlight policies and programs at the federal level and will feature development finance experts and practitioners from key federal agencies, congressional offices, and policy organizations. Attendees will have access to networking opportunities with a dozen federal agencies, a federal grant application writing workshop, and so much more. Register now to secure your spot!
PA Former Steel Site Is Turning Into An Aquaponics Facility
Backed by the social impact investors Hollymead Capital, the nonprofit Food 21 and an opportunity zone fund, with Peoples Natural Gas as its chief cheerleader, freshly sprouted InCity Farms is in the process of finding a headquarters in Pittsburgh. Its planned $30 million Duquesne facility is expected to employ 130 — starting salaries around $35,000 — potentially expanding to 275.
New OH Community Loan Fund Backs 3 Projects in Akron
The Western Reserve fund, which the Development Finance Authority of Summit County (DFA), said it helped to form in spring with $900,000 in initial funding, is currently a 501(c)(3) nonprofit. The DFA plans to apply to have the fund designated as a community development financial institution (CDFI). The Greater Akron Chamber is using the funds toward its new headquarters, the Well for its "Launch Kitchen" and trucking company JRayl for a new office headquarters in town.
Detroit, MI Food Entrepreneurs of Color Fight Barriers to Launch and Scale
Finding and securing capital is a well-documented struggle for startup food businesses owned by people of color, especially Black and Black women owners. Through the Eastern Market Growing Communities (EMGC) Micro Grant Matching Initiative, food entrepreneurs can apply for funding to assist with areas like equipment, business signage and display stands, land, and legal support.
Low-interest Loans, Vacant Storefronts: How Downtown Springfield, MA Is Attracting Restaurants
Through the city's Downtown Dining District Fund, the city of Springfield is offering experienced restauranteurs low-interest loans up to $200,000 to open full-service restaurants in the city. They also created the Springfield Business Improvement District and installed uplighting on eight Main Street buildings from Bridge Street to Falcon Way.
CEI Deployed Over $24M to ME Businesses in 2019
In 2019, Brunswick-based Coastal Enterprises Inc. deployed over $24.1 million, in the form of loans, microloans, equity and tax credit-motivated financing, to 120 businesses, mostly in Maine, and contributed to the creation and preservation of 1,900 jobs across industries that spanned sustainable agriculture and food systems, aquaculture and fisheries, renewable energy, manufacturing, downtown revitalization and the arts.
'Michigan Good Food Fund' Shares Why They Support Growers
The Michigan Good Food Fund (MGFF) was launched in June 2015 and is a $30 million public-private initiative designed to fuel a more inclusive food system statewide. Products and services include loans ranging from $2,500 to $6 million and extensive pre- and post-loan technical assistance. In addition, MGFF occasionally opens a round of Catalytic Investment Awards to provide non-debt financial support to prepare businesses for loan financing within a 24 month time period.