Whole Foods Market Inc. is making a world of a difference for some lucky local producers. Whole Foods is based in Austin, Texas, with 399 stores (mostly across the US and Canada) open, and they announced their Local Producer Loan Program in 2006. This program was created to support local producers who are looking to expand their businesses. While producers (who already supply Whole Foods with their products) receive a loan of between $1000 and $100000, Whole Foods gains more positive publicity in addition to their merchandise coming from more established producers. Whole Foods has a niche in the world of grocery stores; they sell organic, sustainably-sourced, and ‘green’ products. Although their prices are often quite high, their targeted consumers are willing to spend their money on the high quality goods sold at Whole Foods. In addition to receiving money, the recipients of the loans also gain the bragging rights of being associated with Whole Foods, which would likely appeal to other businesses interested in their products. I personally cannot think of any way in which the Local Producer Program is negative: it benefits the company, the producer, and customers can continue to buy the products they enjoy from their local Whole Foods.
Sources:
http://www.wholefoodsmarket.com/mission-values/commitment-society/loan-program-details
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