After a $10,000,000 loan to local farmers proved successful, Whole Foods Market announced on January 2 that it will give up to $25,000,000 in low interest funds to farmers who support their non-GMO, earth friendly values. The monetary range of these loans is as wide as their uses, which include additional grass fed cattle and conversions to organic production.
Whole Foods global grocery purchasing coordinator, Dwight Richmond, stated that “Whether it’s improving the business plan, discussing market trends, or connecting people with new partners in our network, it’s exciting to see the results of great teamwork combined with monetary support.”
These loans assist business partners that are valuable to Whole Foods, but could have far greater implications for the movement towards grass fed livestock and organic farming. If other companies follow suit, than small businesses that must charge more for organic produce might have the funds to compete with much richer and less healthy manufacturers.
Video of the Local Producer Loan Program: http://wholefoodsmarket.com/mission-values/caring-communities/local-prod...
Whole Foods explains “Organic” standards: http://www.wholefoodsmarket.com/mission-values/organic/basics-organic