Whole Foods Market Announces Low-Interest Loan Program

Whole Foods Market, the leading organic and natural foods supermarket, is seeking local farmers and other food producers who are interested in participating in its new Local Producer Loan Program. As part of a company-wide initiative supporting local agricultural producers and food artisans, the company plans to provide up to $10 million annually in low-interest loans to small producers in the U.S.

At five to nine percent, the interest rates currently offered through Whole Foods Market's pilot program to small agricultural producers can be extremely attractive. The program has other attributes geared to small producers: loan application paperwork is minimized; there are no penalties for early repayment; and loan terms may be from a few months to ten years.

The Local Producer Loan Program is part of Whole Foods Market's renewed commitment to local agriculture. This includes hosting farmers markets at stand-alone stores, refocusing in-store marketing to highlight locally-produced products, and hiring regional staff focused specifically on sourcing local products.

“It is Whole Foods Market's intention to help finance local food production all over the United States," said John Mackey, co-founder and CEO of Whole Foods Market. “We are going to "walk our talk" with financial support for local, small-scale agriculture. We believe this financial assistance of up to $10 million per year can make a very significant difference in helping local food production grow and flourish across the United States." Producers throughout the U.S. are invited to participate in the program.

Those interested can find more information and a loan application at the website. They can also contact the program coordinators at plp@wholefoods.com