What is LVR?
Heritage is delighted to have been chosen by Woolworths as its partner for the new $30 million Woolworths Organic Growth Fund.
The Woolworths Organic Growth Fund has been established to help Aussie farmers meet the growing consumer demand for organic fruit and vegetables.
The $30 million Fund will allocate grants and interest-free loans over the next five years to Australian organic fruit and vegetable growers looking to expand their operations and those keen to become part of the burgeoning organic industry.
Farmers will also have contracted purchase volumes, providing them with the certainty of longer-term supply of organic fruit and vegetables to Woolworths.
Heritage CEO Peter Lock said the bank had a strong track record of partnering with iconic Australian businesses to help them achieve their business goals.
“We already support businesses including Qantas and Australia Post with their products and we are thrilled that Woolworths has chosen to partner with Heritage in launching this extremely worthwhile initiative,” Mr Lock said.
“The Fund will provide a significant boost to the organic farming sector across the country and Heritage is delighted that we can use our expertise and resources to help our farmers via the Woolworths Organic Growth Fund.”
Woolworths will manage the Fund and will be responsible for applicant selection. Successful applicants will then enter into a funding agreement with Heritage, who will administer the lending and financial aspects of the Fund’s operations.