FAQ

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Frequently Asked Questions

People have a lot of questions about how the Fairbanks Community Cooperative Market (Co-op Market) will work since it is a relatively new concept in Fairbanks. Our growing list of frequently asked questions about what the Co-op Market is and how it will work are answered here. If you have a question not answered here, please email us at [email protected].

When will Co-op Market be open for business?

Good question! The business plan was finished in June, 2010. We have an option to lease part of the old Foodland building. We are working now to raise a total of $575,00 in member equity through memberships and loans from members. That member equity will allow us to secure commercial bank loans for another $500,000. When the funding is in place, we can begin remodeling and outfitting the store. There are a number of other challenges to meet, including hiring of a General Manager, before construction can begin, but our goal is to open the store by late 2011.

Our biggest challenge is raising seed funding required to secure bank loans for construction and stocking the shelves. We have two equity raising projects, the membership drive and the member loan program. If we raise sufficient funds, store construction could start as early as July 1st, 2011.

What can I buy at Co-op Market?

Co-op Market will be a fully stocked grocery store. Unlike Fred Meyer or Safeway, there will not be a liquor store, electronics, motor oil and the like. We will concentrate on providing fresh, wholesome food from reputable producers. We will support local farmers and ranchers, but not exclusively. Oranges just won’t grow in Fairbanks.

Who owns the Fairbanks Community Cooperative Market?

Co-op Market will be owned by local people believing in wholesome food. These people, founding members, bought shares in this project at its inception for $200. You can still become a founding member, contact us for details.

We have a member loan program for people wishing to loan money to Co-op Market. Details of the member loan program are available here.

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