Local Producer Loan Program Details

Through the Local Producer Loan Program, Whole Foods Market aims to:

• Work with local producers to expand the availability of quality, local, differentiated products for our customers

• Support the communities in which Whole Foods Market does business

• Strengthen the partnership between Whole Foods Market and local producers

• Reinforce the Whole Foods Market value of environmental sustainability

How

• Loan up to $10 million annually to independent local producers

• Minimize fees, interest rates, and paperwork

• Applications accepted on a rolling basis

Eligibility

• Must meet Whole Foods Market's Quality Standards

• Use funds for a specific expansion or capital expenditure project, not operating expenses. Acceptable uses include:

• • Purchase more animals

  • Invest in new equipment/infrastructure

  • Expand crops

  • Convert to organic production

• All meat and dairy producers must meet Whole Foods Market's Animal Compassion Standards

• Have adequate cash flow to service debt and a viable business plan

• An existing relationship with Whole Foods Market is a plus

Loan Terms

• Loan amounts targeted between $1,000 and $100,000

• Loan amount not greater than 80% of total project cost

• Low, fixed interest rate, currently between 5% and 9%

• Term and repayment of loan tied to life of asset financed

• Monthly payments required after termination of any grace period

• Collateral may be required

• No penalty for early repayment

• $65 processing fee, due at the end of the loan process, which covers administrative expenses, including obtaining a credit report

• Approval and terms dependent primarily on product characteristics, risk assessment, and use of proceeds

• Producer may apply for additional financing if initial loan is in good standing after one year

Questions? Contact the program coordinators at LPLP@wholefoods.com.