|About:||Local grocery chain expands one if its three stores in Grand Rapids, bringing more fresh, culturally relevant products and services to largely Hispanic and Mexican clientele.|
|Location:||Grand Rapids, MI|
|Investment:||$346,800 loan by Northern Initiatives with $100,000 participation by Fair Food Network’s Fair Food Fund|
|Partners:||Northern Initiatives, Fair Food Network’s Fair Food Fund|
Michigan Good Food Fund loan supporting Olvera Enterprises to expand store, bringing more food and 20 new jobs to the community
Supermercado Mexico is a local grocery chain with three stores in Western Michigan’s Grand Rapids metro area. The Division Street location opened in 2011 in a corridor of businesses serving a largely Hispanic and Mexican clientele. It has since become its anchor location store with a full-service butcher, produce, baked goods, and other culturally relevant products and services. The Supermercado stores are owned by Olvera Enterprises, which is led by brothers Javier and Pablo Olvera. The Olvera’s are deeply connected to the community and leading other local economic development projects supporting Hispanic-owned businesses in Grand Rapids.
As Supermercado outgrew its Division Street location, store owners purchased a nearby building to expand. The new store will triple the store footprint allowing them to expand offerings and bring on 20 new full-time employees. In July 2021, Michigan Good Food Fund lenders Northern Initiatives and Fair Food Network’s Fair Food Fund joined together to provide a loan supporting building improvements, equipment, and working capital for the new store.
This is the second investment in Olvera Enterprises by Northern Initiatives on behalf of Michigan Good Food Fund. The first investment was in Placita Olvera, a mixed use project bringing together Hispanic businesses, including a brewery, multiple restaurants, outdoor farmers market, and business incubator space currently in development in Grand Rapids.