Your community-owned, local grocery store is one step closer to 
opening! Once owners invest a minimum of $800,000 (only $307,000 left to go!), a bank loan of $1.1 million will be required to secure the funds needed to open the store.
Fidelity Bank has agreed to provide this loan, backed by a USDA guaranty, once the $800,000 owner investment goal is reached.
Here’s the step-by-step list of the funding-to-open process for the co-op:
- Find bank to loan $1.1M – DONE
- Secure USDA warranty for loan – DONE
- Raise $800,000 in investment from owners – More Than Halfway There
- Receive loan – Hopefully A Quick Process
- Open in 6 months! – Home Free
Fidelity Bank was selected, in part, because it is a local bank that has supported the co-op since early stages. Additionally, Fidelity Bank is offering a great incentive for CSM owners who open a checking account with them.
| Owners: Get a $150 Company Shops Market gift card when you open a checking account with Fidelity Bank
Fidelity Bank is offering new and existing co-op owners a $150.00 gift card* to the grocery store to co-op owners that establish a banking relationship with Fidelity Bank (*at the six month anniversary)
For more information, please contact Fidelity Bank at 336.227.1157. New ownerships can also be purchased at Fidelity Bank on South Church Street, Burlington. |
“Fidelity Bank is pleased to partner with Company Shops Market in this local project that will serve our community and support our local businesses.”~ Tom Manning, Senior Vice President of Fidelity Bank