WESTFIELD – The three-year-old Pioneer Valley Grows Investment Fund (PVGIF), a program that provides financing and technical assistance to farm and food businesses through community investments, has marked a major milestone — $1.25 million raised and financing provided to more than 25 local farm and food entrepreneurs primarily located in Western Massachusetts.
The PVGIF community of investors and borrowers from across the Pioneer Valley will gather on Thursday, October 4, from 5 – 7 pm at Raven Hollow Winery, 436 Russellville Road in Westfield to celebrate its third anniversary and look ahead to the next phase of the Fund’s operation.
Kosinski Farms, a third-generation fruit farm in Westfield which over the decades has expanded its acreage by adding a farm store and bakery, was one of the first agri-business borrowers to the fund. In 2015, PV Grows Investment Fund invested in the purchase of equipment for Raven Hollow Winery, the farms latest endeavor. This value-added operation utilizes the farm’s fruit seconds by transforming them into juice, wine and cider.
The Fund is actively seeking more investors to raise an additional $1.25 million to continue this work. The October 4th event provides an opportunity to learn more about the PVGrows Investment Fund, hear from investors and entrepreneurs, tour the winery, sample food from Kosinski Farms and PVGIF borrowers, and find out how to get involved.
The Fund was started in October 2015, and to date has nearly 50 investors, including individuals businesses, and foundations. Open to investors located in New England and New York State, the PVGrows Investment Fund has a minimum investment of just $1,000, with interest paid annually. These community investments are pooled together to provide the financing that farm and food entrepreneurs need to grow their businesses.
Food and farm businesses applying for financing and business support are vetted for mission fit by a consortium of community-lending institutions and food .and agriculture specialists.
Administered by the Franklin County Community Development Corporation (FCCDC), the PVGrows Investment Fund offers an innovative, mission-driven way for community members to invest in their values — by supporting and sustaining businesses that can make real changes to how we grow, distribute, and buy food.
“It takes the local movement to a whole new level. It’s beyond eating local – it’s investing locally,” said John Waite, Executive Director of the FCCDC.
If you’re interested in attending the October 4th event, please RSVP at http://bit.ly/PVGIF_3. For more information about the Fund, visit http://www.pvgrows.net/investment-fund/.
