The California FreshWorks FEMI-LA Fund has deployed nearly $2 million in patient loan capital, as well as companion grants and technical assistance resources, to local intermediaries to support microlending to healthy food enterprises that reach families with small children throughout Los Angeles County. Microlenders are now resourced to deploy loan capital in small bursts to assist food businesses throughout Los Angeles County. Technical assistance is being offered to increase their chances of success. Our goal is to ensure that borrowers are in a strong position to take on financing and offer healthy food options in our communities.
The program investors in Los Angeles County are the FreshWorks fund and First 5 LA.
The current awarded microlending intermediaries are:
AmPac Community Development Corporation
Leadership for Urban Renewal Network (LURN)
7Pacific Asian Consortium in Employment (PACE)
Valley Economic Development Corporation
Vermont Slauson Community Development Corporation
West Angeles Community Development Corporation
Feel free to contact any intermediary directly. Each intermediary sets their own guidelines and regulations for financing. But generally, loan amounts range from $500 to $250, 000 which can be used for a number of financing needs such as: Renovation, Equipment, Inventory and Working Capital, as well as start-up.
Emerging Markets, Inc. is the FreshWorks Fund’s food access organization and will assist with outreach referrals and managing technical assistance resources. For detailed information about the overall Fund please contact Emerging Markets, Inc. or visit www.cafreshworks.com.
For general information, contact
Emerging Markets, Inc.