Shared Capital Finances Two New Food Co-op Stores in North Carolina

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The Durham Co-op Market is a start-up co-op and has a newly constructed store located between downtown Durham and Duke University with 7,000 square feet of retail space. The store is off to a very successful start with sales being significantly above budget. The number of owners has increased by about 500 in just six weeks after opening, for a total of about 2,200 members.

The Hendersonville Community Co-op is also enjoying a newly constructed store with 8,000 square feet of retail space. This is more than double the size of their previous location. The store sits just a few blocks from the previous site and enjoys a new meat and seafood department, as well as an expanded deli and product department.

Shared Capital Cooperative provided a loan to both co-ops in partnership with three other community development financial institutions (CDFIs), the Local Enterprise Assistance Fund (LEAF), the Natural Capital Investment Fund (NCIF), Self Help Credit Union and Self Help Ventures.