When food co-ops have grown to have enough owners to sustain a co-op grocery store, they are ready to find the funds to build that store. That is what our Community Investment Campaign is all about.
Our funds will come from many sources.
- Owner loans and donations
- Grants from government entities and foundations
- Commercial and co-op loans
We will try to get as much money from grants and donations as possible. This way, we won’t have as much debt for the business to carry over time (and pay off down the road). Once we know our site and what the costs are, we’ll know how much we need to raise. It will probably be in the neighborhood of $4.5 million dollars. Some food co-ops have received “set aside funds” from their US representatives that have been pretty significant. There are USDA grant programs that we are well suited for. We are building relationships with all our elected officials so that local funds can be appropriated for our store.
Our owners will also play a significant role in the funding of our store. Some of us will be able to loan the co-op larger amounts to be repaid with interest in 7-10 years. Some of us will be able to donate funds and they can be charitable donations if that is useful to the donor. Some of us will be able to give our time to the Campaign as a volunteer: organizing the Owner Loan Drive, being a part of the call team calling our owners to make sure everyone knows of this opportunity. All of us can play a role in the funding of our store.
For now, we are growing our Capital Investment Campaign circle. If you want to get involved as a committed member, shoot us an email at info.grfci@gmail.com.
Also keep an eye out in the new year for other opportunities for involvement such as marketing, finance, operations, outreach, and community building circles.