MGFF_Icons-06The Michigan Good Food Fund provides financing to good food enterprises who are working to increase access to affordable, healthy food in low-income and underserved communities in Michigan. This includes the range of businesses that grow, process, distribute, and sell healthy food that reaches those who need it most. Learn if your business is eligible.

Funding a better food system.

Watch the video below to see how we helped Zilke Farm Kitchen realize their vision.

As a mission-driven effort, we evaluate enterprises based on the strength of their business as well as the positive impact they are creating for healthy food access, job creation and economic development, racial and social equity, local sourcing, and environmental stewardship. Learn more about our Mission Alignment.

We know every project is different and will work with you to develop a funding solution that meets your needs. Business Assistance is also available to bolster financing support.

See below for types of financing available, loan uses, and sample terms. To get a closer look at what’s involved in getting a loan, download our Application Process & Checklist to learn what’s needed at every step along the way.

Types of Financing

We provide flexible, patient capital structured to meet the needs of the enterprises we serve.

  • Loans range from $2,500 to $6,000,000. Loans more than $250,000 are underwritten by Michigan Good Food Fund lender Capital impact Partners, a certified Community Development Financial Institution with a 30+ year history lending in underserved communities. Loans less than $250,000 are underwritten by select intermediary lending partners including Detroit Development Fund, Fair Food Fund, Grand Rapids Opportunities for Women, Lake Trust Credit Union, Michigan Women Forward, and Northern Initiatives.
  • Loan rates start as low as 5% and New Markets Tax Credits are available for qualified projects.
  • Limited grant dollars may periodically be available with the goal to prepare enterprises for financing. We do not offer stand-alone grants.

Loan Uses

  • Permanent Working Capital
  • Inventory
  • Equipment Purchase
  • Real Estate Acquisition
  • Construction & Property Improvements
  • Facility Expansion or Upgrades
  • Business Process Upgrades

Sample Terms

Loan Amount $2,500 to $250,000 $250,000 to $6,000,000
Interest Rate 6.75% – 8% 5 – 6.5%
Rate based on risk and use of funds.
Rate resets may apply.
Fees 2% Origination fee 1.25% Origination fee
Term Up to 10 years
Payment Terms and payment schedules based on project needs and loan type.
Collateral Collateral in the form of business and/or personal assets, corporate and/or personal guarantees.
Financing Partner Northern Initiatives, Detroit Development Fund, Fair Food Fund, Grand Rapids Opportunities for Women (GROW), Michigan Women Forward, or other Lending Partners. Capital Impact Partners