Boulder, Colo. (Oct. 21, 2010) – Innovative nut butter company, Justin’s, is the most recent small business recipient of a Local Producer Loan provided by Whole Foods Market. The $100,000 financing will allow the six-year-old Boulder company to purchase new equipment to expand production and grow efficiently while remaining true to its core values and standards, a challenge for many small businesses in the natural foods sector.
This is the second Local Producers Loan for the organic and all-natural nut butter manufacturer known for pioneering the single-serve squeeze pack. Justin’s received its first loan for $25,000 in November of 2007, the program’s inaugural year. At that time Justin’s used the money to purchase a second squeeze-pack machine for its facility. After paying the loan back early, Justin’s was excited to apply this year to support new growth efforts.
CEO and founder Justin Gold expects the equipment upgrade will promote innovation and expansion of the company’s products as well as growth into new regions and channels. Justin’s line has expanded beyond nut butters and into confections since the company’s inception in 2004.
“We are humbled and honored to be a part of the Whole Foods Market Local Producers Loan Program.,” said Gold. “Our hats are off to Whole Foods for recognizing the challenges small businesses face, and finding ways to help us grow efficiently.”
Last week Justin’s launched a line of peanut butter cups in dark and milk chocolate, which are sold exclusively at Whole Foods Market through the end of the year. Additionally, the company will launch two new exclusive flavors of nut butters to Whole Foods Market in 2011: Vanilla Almond Butter and Maple Peanut Butter.
Since 2007 Whole Foods Market has awarded $855,780 in loans to local producers in the Rocky Mountain Region. Recipients include Caleb & Milo of Taos, N.M.; Yummy’s Choice of Kansas City, Kans.; Desert Blends of Taos, N.M.; and from Boulder: Justin’s, Haystack Mountain Goat Dairy, MouCo Cheese Co., Full Circle Farm, Evol Burritos and Boulder Ice Cream.