Healthy Food Financing Initiative
More than 23 million people in America live in food deserts –urban neighborhoods and rural towns without ready access to fresh and healthy food. Most of these communities are served by fast food chains and convenience stores that offer few healthy options. The lack of access to healthy food can lead to various health issues, such as obesity, diabetes and high blood pressure.
In order to provide help where help is needed, ASI Federal Credit Union is offering a Healthy Food Financing Initiative (HFFI) Loan, at low interest rates, to provide resources to businesses who want to help solve this problem. The ultimate goal of this program is to eliminate food deserts in the communities we serve. Our program is built to increase the availability of nutritious food choices for the areas that lack access to healthy food options.
Projects can include, but are not limited to, community gardens with market stands, supermarkets, food hubs, farmers’ markets, co-ops, urban farms, healthy corner store initiatives, bakeries, or healthy food restaurants with an emphasis on locally-sourced or organic foods.
Projects must be located within eligible USDA-designated food deserts in Orleans, Jefferson or St Tammany parishes.
An HFFI Loan is for start-ups, new businesses or existing businesses and can be used for inventory, equipment, property purchase or renovation, construction, land acquisition and refinancing of business debt.
ASI will lend $50,000 - $500,000 at a fixed rate as low as 1% amortized up to 15 years.
There are no application or origination fees. Experience in the grocery industry is preferred.
How to Apply
For more information, or to apply for an HFFI Loan, contact us at HFFI@asifcu.com.
Download more information on the Healthy Food Financing Initiative here.