Finance Your Food or Farm Business
Access financing that can help grow your business. Discover how our loans, resources, and long-term partnerships can be tailored to you and your business.
Why Our Funding Stands Out
We see your potential
We offer an equitable approach to lending, supporting food and farm entrepreneurs on their path to success – including those who might not yet qualify for traditional financing.
We've stood in your shoes
With our Michigan roots and deep community connections in the food and farm industry, we understand the challenges faced by entrepreneurs like you. Our experience positions us to provide support where traditional lenders might not.
We meet you where you are
Understanding that no two entrepreneurs are the same, we tailor our financing options to ensure they align with the unique needs and specific goals of your business.
Be Part Of The Good Food Solution
Join food and farm entrepreneurs across Michigan who are making a meaningful impact in their communities.
Check Your Eligibility
We work with businesses across the food value chain, from growers to restaurateurs. Explore the criteria to see if you’re eligible.
We support a diverse range of businesses across the state and the food value chain. We have an emphasis on supporting food and farm businesses who are women-owned, represent communities that have been marginalized due to race, ethnicity, and/or gender, and/or serve under-resourced communities.
We support:
- Growers
- Infrastructure
- Aggregators/Distributors
- Product Makers & Value-Added Producers
- Food Retailers
- Food Service Providers
We offer support to food and farm businesses striving to overcome obstacles or expand, particularly those that improve access to culturally relevant food, create jobs, and strengthen local economies. To be eligible for assistance, your business should:
- Be incorporated in Michigan
- Have operated for at least one year
- Show potential for profitability within the next year
- Seek financing between $2,500 and $6 million
- Meet our requirements for collateral, have a strong management team, and provide two-year financial projections
We look for businesses making a significant, positive impact in their communities. Our evaluation focuses on:
- Local Economic Growth: Do your business support your local economy by offering jobs with fair wages and opportunities for advancement, particularly in under-resourced areas?
- Support for Local Produce: Do you champion local produce, supporting Michigan farmers and businesses?
- Racial and Social Equity: Does your business advance racial and social equity? Is your business women- or people of color-owned or, support employees with low-income, or offering culturally relevant food?
- Environmental Stewardship: Are you committed to environmental resilience by choosing organic, sustainably grown goods, or minimizing food or packaging waste, and caring for our Michigan lands?
Ready to take the next step towards financing? Get in touch today.
If you have already filled out a form and need to get in touch again, please send us a note at info@migoodfoodfund.org.
Loan Details And Terms
We provide flexible, patient capital structured to meet your needs. Our loans range from $2,500 to $6 million.
Loan uses include working capital, inventor, equipment purchase, real estate acquisition, property improvements and expansion, business process upgrades, and more.
Small- Scale Financing
Large- Scale Financing
Loan Amount
$2,500 to $250,000
$250,000 to $6,000,000
Interest Rates* Rate based on risk and use of funds. Rate resets may apply.
4–12%
Prime rate+
Fees
2% Origination fee
1.25% Origination fee
Term
Up to 10 years
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
Detroit Development Fund, Fair Food Network, Grand Rapids Opportunities for Women (GROW), Michigan Women Forward, or other Lending Partners
Capital Impact Partners
How To Apply
Explore the application process step by step.
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Step 1
Express Your Interest
Tell us about your business and aspirations. This allows us to begin exploring how our support can align with your vision.
Start Your Inquiry -
Step 2
Partnering with Michigan Good Food Fund
After receiving your details, we’ll connect with you to discuss your business objectives and explore how our resources can support your venture.
Learn More About Our Priorities -
Step 3
Complete An Application
If your business aligns with our mission, you will receive a loan application. Our team will provide a checklist and guidance to support you through this detailed step.
Loan Process Checklist -
Step 4
Review & Approval
Your application undergoes a comprehensive committee review process, ranging from initial screening to final funding. This typically takes several weeks to four months to complete.
FAQ
Take The First Step
Start on your path towards flexible financing and tailored business assistance today.
Mushroom Angel Company packaging Cruz Burgers in Detroit, Michigan.
Tools and Resources to Grow Your Business
Business Assistance
Gain skills in planning, management, operations, food safety compliance, marketing, packaging, and more.
Trainings and Workshops
Expand your expertise with trainings designed specifically for food and farm businesses.
Business Resources
Access on-demand resources designed to help you succeed at every stage.
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