Farm to Food Assistance
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Bridge Loans for Aggregators – Cashflow Management
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Bridge Loans for Aggregators – Cashflow Management
Hey everyone.
I wanted to share some general notes on my journey to set-up some type of bridge loan for our nonprofit and/or small aggregators. In South Carolina, we have selected 12 aggregators to be reimbursed for funds spent and the first quarter of this year, everyone will receive the same amount. As you can imagine, many of our smaller aggregators do not have the cash flow to be able to buy product at these high volumes and wait for reimbursement. I see this is a major equity/inclusion/access issue. If this is happening in your state, I’d recommend researching key words: “bridge loans”, “CDFIs”, community loan fund, or see who in your state received Healthy Food Financing Initiative funding. If you are in NC, VA, or FL this is a lead: https://www.self-help.org/who-we-are/self-help-family/self-help-ventures-fund
Maybe there is national list of all the orgs nationally?
I hope this information is helpful to others!!
Nikki
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2 Replies
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Nikki, this is helpful. To clarify, this is providing bridge loans for aggregators who are part of the LFPA?
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Hey, sorry- just saw this. Yes, these would be bridge loans to support aggregators participating in LFPA that may not have the cashflow to buy product in advance of reimbursement.
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