The USDA and Reinvestment Fund are launching a program under the Healthy Food Financing Initiative (HFFI) to increase access to healthy foods in communities underserved by grocery stores and the deadline to submit the Funding Inquiry Form is October 14, 2024, by 11:59 PM Eastern Time.
The new Food Access and Retail Expansion Fund (FARE Fund) offers loans and grants to eligible organizations over the next five years. As the HFFI FARE Fund 2024 FAQ indicates, the Fund is designed to be a one-time investment of capital into predevelopment or implementation activities that will support the development and success of a sustainable business model. Competitive grants, loans, and technical assistance will be available for eligible food retail and food retail supply chain projects in the predevelopment and implementation stages. Grant awards will be up to $250,000 for implementation and up to $100,000 for early-stage planning, predevelopment, and technical assistance. Loans to eligible
projects may range between $500,000-$5,000,000. Loans may be paired with technical
assistance and/or grants to strengthen the viability of the project.
Don’t miss out on this opportunity!
