FRESHWORKS FUND

According to a recent study by the USDA, 10% of the country is considered a food desert, having little or no access to healthy food options. The majority of these areas are low-income communities.

With help from a $2.5 million donation from JPMorgan Chase, FreshWorks Fund is bringing fresh food to local areas in need. Through financing at or below market rates, the fund encourages grocers to open in underserved areas, so that residents can have better access to more affordable, healthy foods. These loans are available to both large and small food retailers. A part of the lending is expected to go toward building new stores in these communities, as well as helping existing mom-and-pop grocers and smaller independent chains expand their retail spaces and install refrigerated displays for fresh produce, eggs, and meat.

In the end, the financing is also expected to create or retain about 6,000 jobs in California. Read more about FreshWorks.