A key way that member-owners help to capitalize their co-op is through a member loan. Member loans not only help fund our project, but demonstrate commitment and engagement in the co-op on behalf of the membership.
Only some of our member-owners will loan money, but it is nevertheless an excellent indicator of the member-owner support for the proposed project and the future of the co-op.
We are hoping to raise $1,000,000 in member loans towards the overall project cost with an average loan of $5,000. The minimum loan is $1,000. We are basing these goals on our previous loan drive (for the Near West Side store) which was very successful and we hope to see the same enthusiasm and support for this project.
We are approaching our loan goal, but are currently still accepting pledges for the loan drive. Please submit this form to let us know you are interested in learning more about our member loan program, and we will contact you with information about how you can contribute to our financing package for the proposed project.