Reinvestment Fund is financing the expansion of Second Harvest Food Bank of Metrolina, doubling the size of their main warehouse.
Second Harvest currently provides over 45 million pounds of food and household items to a 19-county region where over 500,000 individuals, including over 189,000 children, are food insecure. With specific goals to end childhood hunger and provide healthy food to its region, Second Harvest’s expansion increases its total distribution and doubles the amount of cold storage space. The expansion also increases the percentage of fresh product to 40% of total distribution–expected to be nearly 20 million pounds of fresh product annually.
The $14 million project brings together financing from Reinvestment Fund, SunTrust Banks and South Carolina Community Loan Fund (SCCLF). Reinvestment Fund provided New Markets Tax Credit (NMTC) allocations and a permanent loan for the project. Reinvestment Fund worked with SCCLF, a ReFresh partner, to build their capacity with the opportunity to participate in a leverage loan in the NMTC transaction. It is one of SCCLF’s largest loans to date.
The expansion adds both a volunteer center and a recycling center to the environmentally efficient facility. Additionally, the renovations add improved parking, offices and more pallet slots and vehicle docks.