FCFC Passes $400k In Member Loans

Press Release -- April 28th, 2010

The Friendly City Food Co-Op announced that that the community-owned organization has raised over two-thirds of their membership campaign goal. They plan to open in 2010. From the official release:

The Friendly City Food Co-op announced today that it has passed $400,000 in its member loan campaign. The Food Co-op plans to raise a total of $600,000 in member loans by mid-May to secure its lease at 150 E. Wolfe Street in downtown Harrisonburg. Once the lease is secured, the Co-op is slated to open as early as December of this year.

To date the co-op has raised $405,000 in committed loans, two-thirds of the campaign goal. Overall the co-op has received $1,047,600 in shares, loans and primary financing. “That’s over 80% of the community financing goal for the Food Co-op,” said Sam Nickels, chair of the member loan campaign. “We’re very excited the members are proving this campaign successful.”

The Food Co-op will join together with the community in order to complete the final $195,000 needed to meet its loan campaign goal in the next 21 days. Among various action plans is a Co-op benefit at The Local Chop & Grill House hosted by Harrisonburg Downtown Renaissance. Interested members and lenders are encouraged to attend on May 5, 2010 from 5-7pm to learn more about investment opportunities.

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2 Responses to “FCFC Passes $400k In Member Loans”

  1. Lindsay says:

    Facebook page announcing membership drives for the month of May:

    http://www.facebook.com/event.php?eid=122894237721247

    Keep saying you’re going to join the Co-op but just haven’t gotten that darn check in the mail yet? Been wondering what this local Food Co-op is all about?

    May means membership! Join the Friendly City Food Co-op as we reach our goal of 1,000 members. With over 815 current member-households, we are well on our way to meeting the mark. Enjoy some refreshments and learn how becoming a member will bring more local, fresh food, 7 days a week, to our Friendly City!

    May 3, 6-8pm
    Organic Grounds Coffeehouse
    625 Mt. Clinton Pike

    May 10, 5:30-7:30pm
    Clementine
    153 S Main St

    May 12, 5:30-7:30pm
    Artful Dodger
    47 Court Sq

    May 16, 5-9pm
    Bike Hoe Down @ Liberty Park
    corner of Liberty St & Wolfe St

    Free appetizers and refreshments will be available. Everyone welcome.

    Already a member? Come hang out and tell potential members why this co-op is important to you and why they must join now!

  2. Lindsay says:

    From the latest Member Loan Update:

    Loan Progress

    Member Loan Campaign Goal: $600,000
    Amount left to raise: $66,000
    Remaining # days: 10

    Date Total Loans % of Overall Goal

    Mar 16 $225,000 38%
    April 16 $348,000 58%
    April 20 $375,000 63%
    April 27 $413,000 69%
    May 4 $416,000 70%
    May 5 $450,000 75%
    May 6 $450,000 75%
    May 7 $482,500 77%
    May 8 $495,000 82.5%
    May 9 $498,000 83%
    May 10 $519,000 86.5%
    May 11 $534,000 89%

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