Oneota Community Food Co-op reaches its goal to raise $600,000 in loans from its members
Posted: Sun, Apr 21, 2019 4:00 PM
The Oneota Community Food Co-op is announcing that its member/owners have met the goal of agreeing to underwrite $600,000 in loans to completely finance the remodeling of the store.
The Co-op remodeling is nearly 80 percent complete. A grand re-opening is being scheduled during the first two weeks of June.
Since moving to its current location in 2008, the Co-op has seen annual sales increase by over $2 million. In that same time period its number of member/owners (shareholders) has more than doubled to roughly 5,500.
In any given year the Co-op estimates that 45 percent of its annual sales stay within a 100 mile radius of the store. Currently this equals roughly $2.3 million annually, with half of that being funds paid directly to local producers who sell their products through the Co-op.