In January, IFF closed two loans totaling $383,000 for community-driven projects in the Midwest. We’ve included information below about the loans and what the organizations that received them are doing with the capital. To learn more about IFF’s lending, visit our Capital Solutions page.
Male Mogul Initiative
IFF closed a $220,000 loan that provided Male Mogul Initiative (MMI) with financing for the purchase of a delivery van, industrial screen and digital printing machines, and other printing equipment needed for the organization to expand its programming. Based in Chicago, IL, MMI provides students with the knowledge and understanding of personal leadership skills, business creation, and self-sustainability with the intention of establishing self-worth and accountability and to create jobs for young men of color. One component of MMI’s service offering is the manufacturing of shirts and apparel as part of an entrepreneurial training program. The new delivery van and equipment will increase MMI’s manufacturing capacity and broaden its footprint, enabling the organization to serve more young people annually. IFF previously provided MMI with a $50,000 flex loan in September 2022 that will be refinanced and combined with the recent loan.
Yoder Meats
IFF closed a $163,000 loan that provided Yoder Meats with financing for the development of warehouse space and the expansion of a meat processing plant at the company’s 9,000-square-foot central processing facility in rural Yoder, KS (population: 165). Founded in 1947, Yoder Meats today operates five grocery stores in Yoder, Wichita, and Lawrence in addition to its processing facility. Since the company was acquired by its current owners in 2017, the company has focused on expanding its retail and wholesale components, and the expanded processing facility in Yoder will advance that goal. The expanded facility will include a new refrigerated warehouse (48’ x 68’) and an addition to a wing of the existing processing plant, with the increased capacity enabling Yoder Meats to hire one additional full-time employee and one additional part-time employee. IFF’s loan to Yoder Meats was provided as a result of IFF’s participation in the Kansas Healthy Food Initiative (KHFI), a public-private partnership that aims to increase access to affordable, healthy food to improve the health and economic development of Kansans and their communities. In addition to the loan from IFF, Yoder Meats will leverage grants from KHFI, Kansas SPARK, and the U.S. Department of Agriculture to complete the $968,000 project.