Supermarket in South Los Angeles to Expand Healthy Food Offerings
As part of its Healthy Food Loan Program, AmPac funded a local supermarket in south Los Angeles to promote healthy food offerings in a local community that is considered a food desert. The borrower obtained a low interest $30,000 loan to purchase inventory and fund tenant improvements. Inventory will include the purchase of fruit, vegetables, and other healthy foods, along with renovations to the store to make these food items more accessible to customers. The loan will facilitate the opportunity for this local neighborhood to have easy access to healthy food.
The Healthy Food Loan Program is part of the California Freshworks Initiative which seeks to serve small businesses throughout Los Angeles County who are able to provide healthy food offerings in communities that are depleted of easily accessible healthy foods, with a special emphasis on making healthy food available to pre-school children ages 0-5.
The AmPac Healthy Food Loan Program is available to businesses in Los Angeles County who provide healthy food offerings including, producers, processors or retailers of food inventory with a high percentage of perishable healthy food. Targeted businesses including community markets, meat or fish stores, discount stores, take-out restaurants, street vendors, mobile markets, farmers, food vending machines and related uses. Loans are available up to $50,000 over a five-year term.