14 Jan '12, 9pm

Love this! How Our Community Re-Financed Our Grocery Co-op: A Success Story

Love this! How Our Community Re-Financed Our Grocery Co-op: A Success Story

We love to share Slow Money success stories like this one from North Carolina. If you’ve got one to share from your community, let us know! Just fill out our web form here . This article was reposted from Sustainable Grub , written by Dee Reid. It all started when Chatham Marketplace had a financial obligation looming. The Pittsboro-based co-op grocery was facing a $300k balloon payment on its start-up loan. The note would come due in about a year. The bank might be willing to re-finance, but there was no guarantee about that, or whether the Marketplace would get the same terms. Then Carol Hewitt recalled a great idea that came up a few months earlier when she was first co-founding Slow Money NC, the Pittsboro-based initiative that facilitates peer-to-peer community-based loans. Chatham Marketplace Finance Committee member Paul Finkel had suggested re-financing the co-op’s...

Full article: http://www.chelseagreen.com/content/how-our-community-re-...

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