Spring Capital Campaign Launches March 11!

Hello Co-op Community!

Construction on our community-owned grocery store is now 90% complete. Sam and Lorne are working with national distributors and local farmers to fill our shelves, and employment opportunities are now being posted. More than 2,100 proud owners are ready to shop, more than any startup food co-op has had before opening. And as March approaches, a late spring/early summer grand opening is setting up to be a huge celebration, and well deserved 🙂

Still, essential fundraising continues. The $1.75 million Bridge the Gap campaign – launched last fall to cover manufacturing delays and an 80% increase in construction costs – has raised about $200,000 in tax-deductible donations. Grants, state funding, and traditional debt are also being pursued, but opening day is fast approaching. In conversations with owners, many said they would prefer to make additional loans to open our doors. And so …

On March 11, the co-op will open a Spring Capital Loan Campaign to raise $400,000 in interest-paying owner loans, funds that we must secure before we open our doors. If necessary, a fall campaign will seek to raise another $600,000 in loans. Like our first campaign, this is an opportunity for owners to invest in our store’s success and in our shared values around local farms, healthy food access, and community. And just like last fall, we’re off to a great start. Two owners have already pledged a combined $75,000 in loans toward our spring goal!!!

For more information and to receive our prospectus, owners can email campaign@assabetmarket.coop. Our community-owned grocery store is coming and so many of our shared values are at stake. With your help, we can make a huge impact across our community. Reach out today!