Member-Owners Loan Money to Fund Co-op’s Expansion
Since 2013, Keene has embraced our co-op and made it a success. The demand for the co-op’s healthy and wholesome foods and products has grown steadily, prompting our Board and management team to pursue expanding the current building.
We recently launched a Member-Owner Loan Campaign to allow eligible Member-Owners to help finance this expansion, and invest in their community at the same time. Our goal is to raise $1,500,000 through loans from our Member-Owners, now through October 15, 2019.
Consumer cooperatives around the country use Loan Campaigns to generate capital for projects, while simultaneously offering their Member-Owners a chance to invest their money in a local business dedicated to serving the community.
“The Monadnock Region has been my home for more than 40 years,” said Carolyn Crane, Member-Owner and co-op Board President. “Strengthening the local business community is important to me, and I have never had an opportunity like this to invest so directly in the local economy. On top of that, my investment will contribute to all that our co-op represents beyond being a great food store and providing jobs.”
These loans are not considered donations but taxable investments, structured to generate financial gain for the Member-Owners who choose to invest. However, these investments are not backed by the FDIC or any other governmental authority and have certain investment risks.
The money loaned to the co-op will help finance the purchase of equipment, inventory, and cover a portion of the expansion expenses within the building. The campaign is open only to Member-Owners of the Monadnock Food Co-op who are in good standing and bona fide residents of New Hampshire.
The information provided in this press release does not constitute an offer to sell or a solicitation of an offer to purchase securities, and any such offer or solicitation can only be made by an Offering Circular. For more information about the campaign or the expansion, please visit monadnockfood.coop/category/expansion or contact the co-op’s Campaign Coordinator, James Holcomb at firstname.lastname@example.org, 603-283-5401.