Based in Oakland, California Mandela MarketPlace is a non-profit Community Development Corporation, incorporated in 2004, that works in partnership with local residents, family farmers, and community-based businesses to improve health, create wealth, and build assets through cooperative food enterprises in low income communities. Through community organizing, education, business cultivation, and ‘ladder-up’ financing, community members engage in the development, operation, and ownership of a local economy and sustainable food system.
Mandela MarketPlace is using HFFI financing to support a revolving loan fund for business expansion. The two initial businesses to receive loans are Mandela Food Cooperative and Earth's Produce Distribution.
- Establishment of a $115,000 revolving loan fund to incubate healthy food-related social enterprise
- Increase sales of healthy foods at Mandela Foods Cooperative (MFC) by 50% to $1.5 million annually
- Earth's Produce Distribution will use the loan to increase delivery and consumption of fresh produce by 800,000 pounds annually
- Create 6 new jobs and 5 ownership positions by opening a grocery store and café in urban low-income, low-access community
- Support under-resourced, local farmers through creation of an urban wholesale produce distribution enterprise
Source of money: HFFI CED Program; Fiscal Year(s): 2013