The California FreshWorks Fund is a public-private partnership created to finance healthy food retail and distribution projects in underserved communities that lack access to affordable fresh foods throughout California.
Since its inception FreshWorks has disbursed $60 million to various projects aiming to create healthy communities across the state. These projects include grocery stores, mobile food operators, farmers’ markets, a food business incubator, and several intermediary lenders that provide micro-loans to smaller food enterprises.
As a result of this financing and grant distribution, more than 800,000 Californian’s have increased access to fresh and healthy foods. This projects have also created jobs critical to economic opportunity in these communities.
California FreshWorks Fund Overview:
- Provides financing and grants to Increase access to healthy food as a means to improve health outcomes
- Spurs economic development and local job creation that support healthy communities
- Encourages innovation in healthy food retailing and distribution
Advantages of borrowing through Capital Impact Partners:
- More than thirty years of experience in lending to projects in underserved communities.
- Provided over $150 million in healthy food project financing nationwide
- Mission-driven organization committed to partnering with borrowers to ensure good projects that deliver social impact get funded
- Can serve as a single loan source, eliminating need for borrower to secure many layers of capital that can be time consuming and difficult to assemble
- Ability to offer a variety of low-cost financing options under terms not available through traditional financial institutions
THE CALIFORNIA FRESHWORKS FUND STORY