Commitment to Action

Virginia Fresh Food Loan Fund

Commitment by

Virginia Community Capital

In 2013, Virginia Community Capital committed to launching the Virginia Fresh Food Loan Fund (VFFLF), an $11 million fund to address the unmet capital needs of healthy food enterprises in both Virginia's rural and urban areas. The VFFLF combines small business technical assistance as well as lending opportunities to increase the capacity of urban corner stores to sell and market healthy items and foster the expansion and formation of food hubs, small and medium sized food enterprise, primarily located in rural communities. This commitment will significantly increase healthy food sales in participating corner stores and is anticipated to create an average of 12 jobs per food hub. The Virginia Fresh Food Loan Fund is a scale up and expansion of VCC's recent healthy corner store pilot program in Richmond's East End neighborhood.

Share

Tabs

Overview
Summary

Commitment

Virginia Fresh Food Loan Fund

Launched

2013

Est. Duration

3 years

Estimated Total Value

$11,000,000

Region

Northern America

Countries

United States

Commitment by

Virginia Community Capital

Partner(s) of the Commitment Maker(s)

U.S. Department of the Treasury, Bon Secours Health System, Inc., The City of Richmond, Virginia, American Heart Association, PNC Bank, Commonwealth of Virginia, Tricycle Gardens