Company allocates $1 million for emergency loans to neighboring Austin establishments
AUSTIN, Texas, 2015-5-28 — /EPR Retail News/ — Whole Foods Market is offering zero-interest loans to neighboring businesses damaged in Austin’s Memorial Day 2015 flood. The company is allocating $1 million for loans, which will be available to businesses in the Shoal Creek flood zone.
Additionally, all Austin Whole Foods Markets are collecting donations at the registers; funds will go to the American Red Cross of Central Texas.
“Whole Foods Market understands the tragedy of floods. And we also understand the power and positive impact of love in business,” said John Mackey, the company’s co-founder and co-CEO. “We ONLY survived in 1981 because of the outpouring of love and support from local businesses, customers, neighbors, supplier partners and dedicated team members. Now, 34 years and 419 stores later, we are able to return the favor to Austin and pay it forward to help the current generation of local businesses hurt by recent flooding.”
On Memorial Day 1981, floodwaters ravaged Whole Foods Market’s original store, damaging equipment and wiping out inventory. The store had no insurance, savings or warehoused inventory. Customers and neighbors joined staff members to clean up and repair the damage, and creditors, vendors and investors provided breathing room for Whole Foods Market to reopen 28 days later.
Businesses in need can apply for a zero-interest loan via Whole Foods Market’s Local Producer Loan Program by emailing LPLP@wholefoods.com with the following information:
• Name and address of business
• Organizational document – articles of incorporation
• Loan request amount
• What it will be used for