Where Do We Go From Here!   

Thanks to you we are almost ready to seek the last major piece of our financial package for a grocery cooperative in Fairbanks. We are excited about the recent success in receiving assistance from Golden Valley Electric Association (GVEA) to meet our financing needs, BUT, we are even more excited by the success of our member loan campaign. 

Member-owners from all walks of life have stepped up to loan funds to their business and invest in their community.

On Monday, April 11 our Board of Directors voted to increase our Member Loan goal to $350,000. This level of increase will tip the financial scale to just over 53% of funding that comes directly from member support. This will reduce the remaining amount of the total financial package that will be obtained from a bank while putting us in a better position for requesting a commercial loan.

Seeing a percentage like that tells potential lending banks "Yes, your community wants this!"

We can do this!

As of this writing we have accumulated $285,000 in Member Loans with additional pledges bringing the total close to $300,000.  Seventy people have pledged for an average loan size of $4,138 -- and a surprising number have done so while asking for a 0% interest rate and a long term lending agreement! View statistics.

Today, we launch a TWO WEEK member loan campaign to raise the rest of the $350,000 Member Loan Goal. The campaign ends Saturday, April 30, 2011. 

The minimum loan amount is $1000. The lender can choose repayment terms of 6, 8 or 10 years and a rate of interest between 0 and 3%. We offer 4% interest for loans of $10,000 or more or loans for a 10 year term.  Call 457-1023 or email for the full disclosure document.

With the Member Loan Campaign behind us we will be moving forward with other important projects including store design work and an ongoing search for a General Manager.

If you have already become a Member-Lender, THANK YOU. Take heart that we are well on our way.

If you are still thinking about providing a Member Loan please give us a call before April 30, 2011 at 907-457-1023 or email. You may receive a call from one of our callers, Tom, Hans or Rich. 

Kind Regards,   

Your Board of Directors

PS. Ahhh yes. You must be asking, "When do we open?"   We hope to start renovation late this summer with opening sometime between January and April of 2012, BUT we MUST secure all the financing and find the perfect General Manager first. Stay tuned for updates on our progress! 

Our goal for Spring 2011 is to achieve our new Member Loan goal of $350,000!     

Meanwhile, there are many tasks at hand, and we need more helping hands!  If you can loan funds or help us with volunteer efforts for the many tasks in designing and opening a full service grocery market please call 457-1023 or email today.

Over 53% of Project from Membership Equity and Member Loans