Fiddleheads Natural Foods Cooperative Board of Directors invites all of our Member-Owners to consider participating in our Member Loan Program.

We will need the participation of many members in order to reach our member loan goal of raising $350,000. The minimum loan size accepted is $500. With strong support from our members, we believe we can quickly and successfully complete our member loan program. Depending upon the amount of the loan, members can select from a range of interest rates and terms. Please see the prospectus for further details.

After several years of hard work, research, planning and laying the groundwork for our new food co-op, we are now poised to secure final financing if we can show appropriate support from our members. Fiddleheads Natural Foods Cooperative will be more than a grocery coop. Co-ops bring people together to own and control their enterprises to meet their mutual needs. The key need that Fiddleheads Natural Foods Cooperative addresses is one for a community based, full-service, natural food market that creates a connection between food producers and consumers and provides an opportunity for education and community building. Together we are creating a coop and Farmer’s Market with great abundance and of fresh natural and organic foods, old-fashioned neighborhood friendliness and all of the conveniences that natural foods grocery shoppers have come to expect. It is also a positive economic venture for the local economy, local farmers and producers, and the greater southeastern Connecticut community.

Just as our co-op is not an ordinary food coop, this is not an ordinary prospectus. Member loans will strengthen our organization from the inside out by reducing our reliance on outside lenders. In keeping with this philosophy, the interest rates we offer may not be as high as professional investors may expect. As a Member-Owner, you have invested in your business and your community by purchasing a $175 equity share. Not all our members will be able to make a loan at the levels we are seeking, but if you can, we encourage you to step forward now and pledge your member loan to Fiddleheads Natural Foods Cooperative during our member loan drive. Together, we can raise at least $350,000 that will demonstrate our commitment to an exceptional food cooperative to serve our community.

Thank you for your consideration of this socially responsible lending opportunity. Your support is deeply appreciated.

RATES AND TERMS:

Level 1:
Loans $500 - $10,000
Interest 0-3%

Level 2:
Loans $10,000 and up
Interest 0-6%

Minimum term 3 years
Maximum term 8 years

Interest
Is simple, (not compounded) and is calculated each year and paid at the end of the loan term. Interest is taxable income and will be reported to the Federal government on Form 1099INT. If you have any questions you should talk to your tax advisor or an attorney.

Risk
There is risk involved in this investment. Loans are unsecured and subordinate to the other financing that the co-op receives. Loans are only available to Fiddleheads member-owners and they may not be transferred.
 
The available rates are reasonable rates and the funds will help a community development of enormous importance to its members and neighbors.

How can I make a Member Loan or Get Additional Information?
Please contact Ed Demuzzio (eed@gocci.com) for a copy of the Prospectus and Promissory Note.