Michigan Good Food Fund

The Michigan Good Food Fund is a statewide lending and business-assistance network that provides flexible financing and tailored business assistance to Michigan's food and farm entrepreneurs, helping grow a more resilient, inclusive local food system. Founded in 2015, Michigan Good Food Fund has invested $22.4 million and supported 328+ entrepreneurs, from growers to food retailers and everyone in between.

The Fund is administered by Fair Food Network, which serves as its administrative manager and one of its lending and technical-assistance partners, alongside Bank of Ann Arbor, Capital Impact Partners, CDC Small Business Finance, CEED Lending, Detroit Development Fund, Grow, Lake Trust Credit Union, LISC Kalamazoo, Michigan Community Capital, Michigan Women Forward, ProsperUs, and Rende Progress Capital. A seven-member Stakeholder Board guides the network's vision and priorities.

The Fund offers flexible, patient capital — loans from $2,500 to $6 million for working capital, inventory, equipment purchase, real estate, and business expansion — paired with business assistance.

• Michigan-based food or farm business across the value chain: growers, infrastructure, aggregators/distributors, product makers and value-added producers, food retailers, or food service providers

• Incorporated in Michigan

• Operated for at least one year (earlier-stage businesses with industry experience, or whose owners have contributed their own startup funds, are sometimes considered)

• Potential for profitability within the next year

• Seeking financing between $2,500 and $6 million

• Able to meet collateral requirements, have a strong management team, and provide two-year financial projections

• Priority given to businesses marginalized due to race, ethnicity, and/or gender, women-owned businesses, and those serving under-resourced communities

How it works. Michigan Good Food Fund provides flexible, patient capital structured to meet a business's needs. Loan uses include working capital, inventory, equipment purchase, real estate acquisition, property improvements and expansion, and business process upgrades.

Small-scale financing. Loans from $2,500 to $250,000, at interest rates of 4–12% (rate based on risk and use of funds; rate resets may apply), with a 2% origination fee and terms up to 10 years. Financing partners include Detroit Development Fund, Fair Food Network, Grand Rapids Opportunities for Women (GROW), Michigan Women Forward, or other Lending Partners.

Large-scale financing. Loans from $250,000 to $6,000,000, at the prime rate plus a margin ("Prime rate+"), with a 1.25% origination fee and terms up to 10 years. Capital Impact Partners is the financing partner.

Collateral. Collateral in the form of business and/or personal assets, and corporate and/or personal guarantees.

Payment. Terms and payment schedules are based on project needs and loan type.

Fine print. Occasionally, limited grant funds are available to help prepare businesses for financing, particularly technical assistance for financial management aimed at strengthening loan applications.

1. Express your interest. Complete an inquiry form telling the Fund about your business and goals.

2. Partner with Michigan Good Food Fund. The team follows up to discuss your business objectives and how the Fund's resources can support your venture.

3. Complete an application. If your business aligns with the Fund's priorities, you'll receive a loan application, along with a checklist and guidance to prepare it.

4. Review and approval. Applications go through a committee review process — from initial screening to final funding — that typically takes several weeks to four months. Once approved, the Fund executes the loan agreement and disburses funds, then continues as a partner providing ongoing support.

Start an inquiry on the Apply For Financing page, or download the Loan Application Process and Checklist. Occasionally, limited grant funds are available to help prepare businesses for financing, offering technical-assistance support particularly in financial management. Questions can be directed to info@MIGoodFoodFund.org or 734.213.3999 x212.

• Michigan Good Food Fund Loan Application Process and Checklist

• Michigan Good Food Fund 2025 Impact Report

• Michigan Good Food Fund Glossary of Key Terms

• Entrepreneurs: Introduction to Michigan Good Food Fund