IMPACT THEME: Poverty & Disadvantage; Health, Wellbeing & Social Care
WHAT THEY DO: Reducing Food Waste And Supporting People Out Of Food Poverty
YEAR FOUNDED: 2017
INVESTMENT AMOUNT: £130,000
INVESTMENT SOURCE: Health & Wellbeing Challenge Fund SW
INVESTMENT PURPOSE: To provide working capital to increase staff and support more people out of food poverty with cooking classes
DEAL STRUCTURE: 6 year unsecured loan from the Resonance Health & Wellbeing Challenge Fund - 2 years interest only (7.5% total cost p.a.), 4 years amortising loan (7.5% total cost p.a.)
They are a catering company tackling the issue of food waste and food poverty in Cornwall using surplus food from wholesale producers, supermarkets and growing schemes, that would otherwise be sent to landfill. This surplus food is used to provide high quality food from pop-up restaurants, street food stalls and events and catering at private functions across Cornwall. The profits generated allows KCF to provide healthy, nutritious, hot meals to people living in food poverty, delivered through food banks and other partners.
Stuart Millard of Keep Cornwall Fed said of the investment “We are really pleased that we’ve received this investment to help us achieve our dream of assisting 5,000 people a year, who are struggling with food poverty. This finance will enable us to scale up our impact and create our pop-up restaurant in Charlestown and also to buy much needed equipment for us to cater for private events, which will help us fund our mission of providing nutritious meals to those who need it, or teaching the next generation how to cook good, healthy food with little or no waste, sometimes on a tiny budget. Without the investment, we wouldn’t have been able to achieve so much in such a short time.”
Resonance Limited is a company registered in England and Wales no. 04418625
Resonance Impact Investment Limited, a subsidiary of Resonance Limited, is authorized and regulated by the Financial Conduct Authority (FCA). Firm number 588462.
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