We have exciting news to share!
Our first pivotal bank loan with Shared Capital Cooperative has closed and the funds are available in our bank account!
We now move toward closing the balance of our loan funds through a second bank which hinged on this one happening first. So the dominoes begin to fall now on all the capital needed to begin construction.
Our next loan is going to have SBA (Small Business Administration) backing, so timing of the next step does rely on the government's pace. We hear it could go very quickly, but could also take time, so we ask you all to be patient with us as we await news on the SBA formalities and process. We'll keep you updated.
Construction of our Co-op is coming soon!