MONTGOMERY, Ala., June 24, 2024 – At the National Rural Grocer’s Summit recently, U.S. Agriculture Secretary Tom Vilsack announced that USDA and Reinvestment Fund are launching a new program under the Healthy Food Financing Initiative (HFFI) to increase access to healthy foods in communities underserved by grocery stores through the new Food Access and Retail Expansion Fund (FARE Fund).
“People across this country deserve fresh, healthy and affordable foods,” Secretary Vilsack said. “Through this program, the Biden-Harris Administration is partnering with food retailers to ensure that everyone has access to affordable, delicious foods while also supporting local farmers and ranchers. We are revitalizing the food systems in this country and increasing access for those that need it.”
Through the HFFI FARE Fund, USDA and the Reinvestment Fund are making $60 million available in loans, grants, and technical assistance for food retail and food retail supply chain projects that increase access to healthy food in communities underserved by grocery stores.
Funding will be available for the next five years, and eligible organizations include food retailers and food retail suppliers.
Eligible organizations may apply for:
- Loans from $500,000 to $5 million to implement healthy food projects. Funds may be used to support predevelopment, land acquisition, renovations, and equipment purchases.
- Grants up to $250,000 to implement healthy food projects. Funds may be used to support project management, equipment purchases, and construction.
The program also offers funding for technical assistance to support projects in early stages and can be used for market and feasibility studies, business planning, and store design.
Potential applicants can check for eligibility now and sign up to be notified when the program begins accepting applications at: www.investinginfood.com/fare-fund.
Through HFFI, USDA partners with Reinvestment Fund to bring healthy food options to underserved rural, urban, and Tribal communities. Reinvestment Fund serves as the National Fund Manager for USDA and raises capital, provides financial and technical assistance to regional, state, and local partnerships, and helps fund projects to improve access to fresh, healthy foods in underserved areas.
In August 2023, Reinvestment Fund expanded America’s Healthy Food Financing Initiative to include the new HFFI Local and Regional Healthy Food Financing Partnerships Program.
To date, HFFI has awarded more than $25 million directly to food retail and food enterprise projects in 48 states, Washington D.C., and Puerto Rico. Additionally, more than $40 million has been awarded to support 16 new and existing regional, state, and local food financing programs through the HFFI Local and Regional Healthy Food Financing Partnerships Program.
USDA Rural Development provides loans and grants to help expand economic opportunities, create jobs, and improve the quality of life in rural areas through infrastructure improvements, business development, community facilities, housing, and access to high-speed internet.
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