In March, Common Ground Co-op announced the location of its second store in Downtown Champaign. In April it launced an Owner Drive, with the hopes of adding 900 new members to help with costs of the second project. Although the Drive only brought in 750 new members, it’s enough to move forward with the Downtown Champaign project. Now the Co-op is hoping to raise between $1.8 and $2.5 million from existing owners through its Owner Loan Campaign.
From the press release:
FOR IMMEDIATE RELEASE
October 12, 2015300 S. Broadway, Suite 166, Urbana, IL 61801
Satina Braswell, General Manager
217-239-8113 || [email protected]
COMMON GROUND FOOD CO-OP LAUNCHES OWNER LOAN CAMPAIGN(Urbana, IL)// — Common Ground has officially launched their Owner Loan Campaign! In order to make the Champaign location a reality, Common Ground must collect enough capital from their owners. Common Ground hopes to reach the project minimum of $1.8 million from their owners in order to continue with the $4 million project. However, they would like to collect $2.5 million to keep most of the project costs local and benefiting owners, while strengthening the local economy. With a current count of approximately 5,700 active owners, a goal of $2.5 million equates to only needing half of those owners to lend the minimum amount of $1,000 to beat their goal. The campaign is expected to last through November 15th and any owner who resides in the state of Illinois, is a qualified investor and is in good standing with CGFC can take part. If you are interested in becoming an owner please visit www.commonground.coop/own-it to sign up today. More information on how to make a loan and support the Champaign store project is available in store.
