At Fair Food Network (FFN), we believe so much is possible when we start with food. Food is at the heart of every area of our lives and a powerful tool for positive change. That’s the inspiration for our mission: to grow community health, wealth, and resiliency through food. Our signature program, Double Up Food Bucks, serves as a national model for healthy food incentives by doubling the buying power of SNAP (formerly food stamps) recipients, helping families bring home more fruits and vegetables while boosting business for local farmers. Through our impact investing work, we invest in food and farm entrepreneurs who are strengthening communities and local economies through food. Together, we are pioneering and proving innovations that can be owned locally and scaled nationally, for lasting change in communities across the country.
Michigan Good Food Fund (MGFF): is a statewide food financing collaborative whose partners invest in good food enterprises working to spark equitable economic opportunity, promote healthy food access, and shore up the resilience of our local food economy. Since 2015, this initiative has provided more than $22 million in loans and grants supporting 300+ Michigan-based food businesses that grow, process, distribute, and sell food. Support includes financing and business assistance to help entrepreneurs grow their businesses and thrive.
About the Role
How FFN and MGFF work together: FFN serves as the administrative backbone of the MGFF, bringing together the expertise, knowledge, and financial capital of stakeholders and partners from across the state. The mission and goals of the MGFF are set by a Stakeholder Board of community members, entrepreneurs, and implementing partners. The Investment Coordination Manager is responsible for coordinating with multiple investors, structuring investment deals, conducting due diligence, and ensuring compliance with regulatory requirements. The Investment Manager will work closely with clients and investors to facilitate successful investments that meet MGFF’s mission and performance targets. This position will report to the Director of Michigan Good Food Fund.
Fair Food Network is headquartered in Detroit. This is a remote position (preferably based on the West side of Michigan) with an expectation to attend bi-annual all-staff events in person in the metro Detroit area.
Key Responsibilities:
- Client Evaluation (30%)
- Interview: Conduct interviews with business owners to understand their goals, competencies, and the specifics of their business operations.
- Site Visit: When necessary, visit the farm or food production facility to verify the information provided in the application and assess the operational setup.
- Review of Business Plan: Analyze the viability and sustainability of the business plan, focusing on market analysis, competitive positioning, operational strategy, and environmental impact.
- Financial Analysis: Assess financial health through ratios like debt-to-income, liquidity, profitability, and past performance.
- Risk Assessment: Evaluate specific risks related to farming and food businesses, including market volatility, seasonal fluctuations, and susceptibility to natural disasters.
- Loan Structuring (30%)
- Coordinating with multiple lenders in the MGFF network to develop and structure loans that share risk and resources.
- Recommend and deploy credit enhancements that improve the risk profile of businesses to leverage and de-risk lenders’ participation in loans.
- Structure and recommend loan terms to suit the specific needs and capacities of the business, such as offering seasonal repayment terms or aligning payments with harvest cycles.
- Serve as a primary point of contact for all participating lenders, ensuring clear communication and alignment throughout the loan process and providing them with necessary information and updates.
- Documentation and Compliance: Prepare, review, and manage loan documentation to ensure compliance with legal and regulatory requirements.
- Pre- and Post-investment Technical Assistance (20%)
- Interdepartmental Collaboration: Work closely with impact investing team members to identify, provide, or recommend pre- and post-investment technical assistance to help clients prepare for loan applications and ensure the success and sustainability of the food or farm businesses.
- Program administration (10%)
- Enter relevant information, technical assistance engagements, touchpoints, and loan documents into the internal platform to ensure data is captured, accurate, and current.
- Participate in and provide input into internal meetings and external pipeline calls.
- Outreach and Community Cultivation (10%)
- Collaborate with marketing team to develop strategies or materials that support client acquisition efforts.
- Develop and maintain a network of referral sources based on knowledge of the Michigan food landscape.
- Manage relationships with MGFF Lenders.
- Participate in outreach events to raise awareness of MGFF.
What You’ll Need
- 3-5 years of relevant experience in lending, investment banking or finance.
- Strong knowledge of financial instruments, including debt, near-equity, and equity instruments, as well as issues in food entrepreneurship and impact investing.
- Ability to read and analyze financial statements and business plans to make or recommend data-driven business decisions.
- Demonstrated experience providing coaching and assistance to entrepreneurs throughout their development stage, including business model development, business planning, financial planning, and market success.
- Exceptional communication and writing skills and can quickly adapt to the audience with politeness, diplomacy, and responsiveness with a friendly, customer service-oriented approach.
- Strong computer skills including, but not limited to, databases, MS Word, Excel, Outlook, and PowerPoint.
- Experience in, or deep knowledge and sensitivity to, effectively working in and supporting underserved communities.
- An understanding of the barriers and opportunities involved in business ownership and the nuances of equitable food access and capital access.
- Exceptional interpersonal and listening skills to build relationships with colleagues, clients, prospects, strategic partners, and the public.
- Must have a valid driver’s license, proof of auto insurance, and reliable transportation.
- Ability to travel across Southeastern Michigan regularly.
- Inspired and committed to FFN’s values, mission and commitment to social justice and equity
The Rewards
- Ability to help craft Fair Food Network’s future impact and apply your skills for social change
- Work with passionate people who are dedicated to a food system that nourishes whole communities, leading to improved health, economic well-being and environmental regeneration.
- Competitive, comprehensive benefits package including full health benefits, a 401K match, a flexible PTO policy, and professional development opportunities.
