Better Banking. Better Lives.

New Orleans Fresh Food Retailer Initiative

The Fresh Food Retailer Initiative (FFRI) is an innovative new financing program created by the City of New Orleans to increase the number of supermarkets, grocery stores, and other fresh food markets in low-income, underserved communities across Orleans Parish. The intent of the program is to enable operators to open, renovate, or expand retail outlets that sell fresh fruits and vegetables. Hope Enterprise Corporation (HOPE) and The Food Trust are partners in administering this citywide program, which meets the financing needs of food markets in communities where infrastructure costs and credit needs cannot be filled solely by conventional financial institutions.

Fresh Food Retailer Initiative

Under the FFRI program, HOPE will provide a combination of interest-bearing and/or forgivable loans for predevelopment, site assembly and improvement, construction and rehabilitation, equipment installation and upgrades, staff training, security, and inventory and working capital for start-up costs. The City has provided $7,000,000 in Disaster Community Development Block Grant (D-CDBG) funds toward the program, which will be matched 1:1 by HOPE. The Food Trust will evaluate applications to determine eligibility for the program.

The initiative was created in response to the lack of fresh, healthy foods in many New Orleans neighborhoods, a problem exacerbated by Hurricane Katrina, and growing evidence that supermarket access reduces the risk of developing diet-related diseases such as obesity, heart disease, and diabetes. The Fresh Food Retailer Initiative will directly benefit low- and moderate-income residents in New Orleans by providing healthy food access, creating jobs, and revitalizing neighborhoods.

If you are interested in this program, you may contact HOPE by phone at 504-585-2860 or via email at ffri@hope-ec.org.

You may also visit the City of New Orleans’ Fresh Food Retailer Initiative website page for more information.

Visit The Food Trust website for background on the importance of the availability of fresh, healthy foods. Founded in 1992, The Food Trust is a non-profit organization dedicated to making affordable, healthy food available to all. The Food Trust was a key partner of the Fresh Food Financing Initiative in Pennsylvania, a statewide program that has helped to open 88 stores in underserved areas.

The following documents are available to provide additional details about the initiative and include forms that should be completed by interested applicants.

Program Overview

Program Guidelines

Frequently Asked Questions

Top 10 Tips for Applicants

Eligibility Application

Business Loan Application
(to be completed after Eligibility is determined)

 

Featured Stories

HOPE receives Platforms for Prosperity Award

Hope Enterprise Corporation received the CFED 2014 Platforms for Prosperity “Where We Bank” Award, sponsored by Citi®, at the Assets Learning Conference in Washington, DC in September.

Bill Bynum Receives Ned Gramlich Award for Responsible Finance at 2014 Opportunity Finance Network Conference

Bill Bynum, CEO of HOPE received the 2014 Ned Gramlich Award for Responsible Finance.

Your browser is out-of-date!

Update your browser to view this website correctly.Update my browser now

×