National Cooperative Bank announces FXBG Co-op loan
The National Cooperative Bank (NCB) announced this week that it is providing a $1.4 million SBA 7(a) loan to the Fredericksburg Food Cooperative.
The Food Co-op will use that loan to finance part of its $4.1 million project to build out a 10,000-square-foot natural and organic food store in Fredericksburg’s Lee Plaza shopping center. The Co-op has also run two successful member-loan campaigns to raise additional money toward the new store.
Read the full news release here. The Co-op, which now has about 1,430 members, hopes to open later this year.