Athol Food Distributor Gets $950K In Loans
Organic Renaissance LLC., an Athol-based distributor of locally grown produce and other local food products, has received a $950,000 loan from MassDevelopment and other lenders.
MassDevelopment acted as lead lender in a three-way transaction that also included the Western Massachusetts Enterprise Fund and the North Central Massachusetts Development Corp.
About $675,000 of the loan came from MassDevelopment's general fund. The loan is 90-percent guaranteed by the U.S. Department of Agriculture's Rural Development Business and Industry Loan Guarantee Program.
Organic Renaissance will offer restaurants, retail stores and other organizations access to an online ordering system. Customers can order directly from growers. Organic Renaissance will keep food at its Athol facility and deliver orders to customers.
The company plans to lease about 10,000 square feet in Athol.
MassDevelopment said the company's business model will lower food distribution costs and improve market access for farmers and other food producers.
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