New social finance fund for the local food and farm sector
April 16, 2019 By Fair Finance Fund
The Fair Finance Fund (FFF) recently announced the launch of a new social finance fund for the local food and farm sector.
The FFF lends to social entrepreneurs across the food system who have demonstrable social and environmental benefits as well as a viable business.
This fund supports the future of local food in Ontario, from seed to supper.
Since incorporation and the pilot starting in November 2018, the FFF has begun to accept investments from institutions and individuals who are value-driven investors.
The Fair Finance Fund issued two loans in early 2019, and evaluated the programs to launch the full revolving loan program this month.
The Fair Finance Fund was a collaborative development project of the Local Food and Farm Co-ops (LFFC) and the Rural Agri-Innovation Network at Sault Ste. Marie Innovation Centre (RAIN).
LFFC is the provincial association for food and farm co-ops, providing training, infrastructure development, consultation and funding for food and farm co-ops, social enterprises, collectives and regional producers.
The Rural Agri-Innovation Network (RAIN) is an initiative of the Sault Ste. Marie Innovation Centre (SSMIC) and its vision is to build a resilient farm and food sector in northern Ontario through innovative research and agricultural development projects. Incorporated as a non-profit, the FFF meets a need for mid-scale financing ($20,000- $100,000) and can support larger financing needs through co-financing arrangements.
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