From: kevin reich <[EMAIL PROTECTED]>
Subject: Eastside Food Co-op investing
The Eastside Food Co-op is About to Open
Make History With It
Make a Great Social Investment with a Wonderful Financial Return!
The Eastside Food Co-op is about to open a 6,500 square foot natural foods
grocery store in the building it owns at 2551 Central Avenue NE. This
project, close to 10 years in the making, will cost $1.96 million. The
Co-op's 800 members have made this possible by investing almost $500,000
in equity and loans. Neighborhood association support has also been
critical; five neighborhoods are loaning another $510,000.
The Co-op is now conducting its third member-owner loan drive, with the
goal of raising $150,000. Buying inventory will cost $135,000. These funds
will stock the shelves.
Over 90 member-owners have taken out loans totaling over $200,000 to date.
Many of these are no interest loans. The financial support from
member-owners has been incredible, far exceeding, on a per capita basis,
any loan campaign of any area co-op.
With this final funding push, the Co-op is offering a strong financial
investment to match its great social investment. Get an annual return of 4
to 8 percent and a total return of up to 64 percent on loans of at least
$8,000. Loans of up to $5,000 will have an interest rate of 4%, for a 5
year, "CD-type" lump sum payout. Loans of $5,000 to $7,000 will have terms
of 5-5-5, 6-6-6, and 7-7-7. Anyone lending $7,000 for 7 years will get 7%
interest. You get the idea. The Co-op needs your money now and is willing
to pay a premium for it (when it matures). Are you able to help?
You must be a member-owner to make a loan. An ownership share in the Co-op
is $100.
As a fellow member-owners, that will be your 1.96 million beauty at 2551
Central Avenue. You will be so proud when you see it. You will be so glad
it is conveniently located when you enter it. You will be so excited to be
shopping in it.
Dream, expand your vision, and invest in paying for it. Go ahead. You own
it. Your help is needed to pay for it. You can say to your friends "I (or
we) own that great grocery store on Central Avenue." You can say "and my
loan was crucial to getting it open." And you will be right.
Consider these words from W.E.B. DuBois:
Now is the accepted time, not tomorrow, not some more convenient season.
It is today that our best work can be done and not some future day or
future year. It is today that we fit ourselves for the greater usefulness
of tomorrow. Today is the seed time, now are the hours of work, and
tomorrow comes the harvest and the playtime.
There is some risk involved. Your investment is not insured. Still,
consider the stock market of the last three years and guess ahead. Where
else can you get a 4-percent annual return on $1,000?
Please call Ken Jerome-Stern, project manager, at 612-788-0950. He wants
to speak with you.
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