MONTGOMERY, Ala. — At the National Rural Grocer’s Summit, 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. Funding for the new Food Access and Retail Expansion Fund (FARE Fund) is made possible by President Biden’s American Rescue Plan Act.
Through the HFFI FARE Fund, USDA and the Reinvestment Fund are making available $60 million 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.
Eligible organizations include food retailers and food retail suppliers.
Applicants may apply for loans ranging from $500,000 to $5 million to implement healthy food projects. Funds may be used to support predevelopment, land acquisition, renovations and equipment purchases.
Applicants may also apply for 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 business support, or technical assistance, to support projects in their early stages. Funds may be used to support market and feasibility studies, business planning and store design.
