Chicago Market Newsletter - June 2019
Thank you for being an Owner - we love you for that!
Your Owner share purchase is an important part of our fundraising too. Our bank loan will depend on the sum of that equity and our Owner Loan funds, so $575,000 + $1,800,000 = $2,375,000. Owner loans are critical - the bank will want to know Owners are supportive of our Co-op and will shop there regularly once it's open - loans demonstrate that support because they show an ongoing relationship between Owner and Co-op.
So Owners DO support the Co-op through their share purchase, but they need to also support through Owner loans. Reaching our $1.8 million goal together IS a requirement of our funding plan.
Plus, being an Owner of a Co-op is different from being a member of another store - it's a special, rare opportunity to start a very different kind of business that supports the community. Which means being an Owner is not a passive thing. Instead, it's an ongoing commitment between the business and the Owners to support each other.
NEWSFLASH! When we hit our Match tonight, we will have raised over $600,000 toward our goal - 1/3 of the way, so let's make THAT happen!
A lot of times we want to see businesses in our community or we want to see new restaurants or shops, but we rely on those business owners and entrepreneurs to invest their life savings and ask their family and friends to invest in their business. But with Chicago Market we're a community and if each of us participate a little bit in the Owner Loan campaign we can build this store we're looking for. So I encourage everyone to participate in the Chicago Market Owner Loan campaign like I did.
Martin Sorge, lender, Owner #1090
In the News
Come on out for one of our fun Owner Loan events this week and watch the website for more next week as well. We'll pick up the snacks. Learn all about how YOU can invest in your Co-op.
Owner Loan Happy Hour - June 11, 6-7:30pm at Meeting House Tavern (details and RSVP here)
Owner Loan Lunch Meetup - June 13, 12-1:00pm at Rewired Cafe (details and RSVP here)
June Board Meeting - June 26, 7-9:00pm at Lakeview Pantry (details and RSVP here)
OLC Caller - Our Owner Loan team can still use caller help. We'll train you and put you to work connecting with Owners. Email Jessica if you're able to give some time to your Co-op for this critical work over the next few weeks. Already loaned? Volunteering is a great way to continue your support of the campaign.
- Board member - one of your Owner benefits is the opportunity to serve on the Board. Elections are tied to our Annual Meeting late summer and now is a great time to be thinking about running for the Board. We encourage anyone interested to attend Board meetings (listed on the Events tab of our website) and we have a current Board member ready to meet with you to talk about the expectations of being a Board member. Email us if you're interested.