PITTSBURGH, PA (PRWEB) FEBRUARY 10, 2016
Idea Foundry has created a pilot revolving loan fund designed to support local entrepreneurs innovating around connecting consumers with local foods, reducing regional food insecurity, increasing on-farm sustainability, and increasing jobs in local farming. Funds will be dispersed to as many as six businesses in year one, with the goals of creating jobs and addressing the specific capital needs of both agricultural businesses and the innovative food, agriculture, and horticulture startups that serve them. With repayment, it is expected that participating businesses will generate monies that will then be recycled back into the fund. The revolving loan fund pilot program is being supported with a grant from the Richard King Mellon Foundation.