AgVets Receives Loan Commitments from a Community Development Financing Institution
US: $1.4m loan commitment for nationwide producer of sustainable locally grown produce
Michael Walker, AgVets CEO, notes “Virginia Community Capital has been extremely supportive and engaged in our project. Their loan commitments pave the way for us to break ground late spring in Northern Virginia. Our focus on healthy, locally grown produce combined with meaningful veteran employment matches with the VCC’s mission of job creation and healthy foods financing for the Commonwealth of Virginia.”
AgVets has targeted Loudoun County in Northern Virginia for its first location of a national roll out of its business model, aimed to deliver fresh, locally grown produce to the middle market consumer.
Mr. Walker continues “We intend to build our national veteran training centre at this location, providing the foundation for veteran jobs creation, and serving the needs of our national business plan. We are thrilled to have VCC as our partners in this project.”
Paul Nolde, Virginia Community Capital Small Business Capital Strategist, adds “The AgVets business plan and pro formas are some of the most comprehensive and compelling that I have seen during my time at Virginia Community Capital. We believe that AgVets has what it takes to succeed in their endeavour of eradicating food deserts while creating jobs for veterans. We are thrilled to be a partner in their project.”
AgVets is a social impact business which aims to be the first nationwide producer of sustainable locally grown produce. It is built on the key premise that the veteran officer/NCO corps is a management resource hiding in plain sight. AgVets plans to harness the resource of returning veterans to meet the growing demand for locally sourced, year-round pesticide-free produce.
For more information : www.agveterans.com