Owner Loans

What is the Co-op Owner Loan Program?

The Medford Co-op’s Owner Loan Program involves a Co-op owner loaning $5,000 or more. We will deposit the funds loaned directly into Trust at Umpqua Bank. These funds stay in the trust until the Co-op is prepared to open its doors for business by having raised $500,000.00 in financing from all sources. Sources include owner/member shares, owner loans, sponsorships and fundraising events.  If the Co-op does not open for business by July 31, 2010, we will refund your principal loan in full.

You can decide on the terms of the promissory note to the Co-op: from 5 to 10 years. You can also decide the annual interest: from 0% to 4%.

When you make the Co-op a loan, we will provide you with the Promissory Note Agreement. You keep the original and we will keep a duplicate copy. When your Note matures we’ll pay all principal and interest due, as promised.

A Promissory Note is an investment instrument. You will be investing in the future of the Co-op and in the welfare of our community.

Additionally, we encourage you to consider becoming a Co-op Founding Sponsor. Our Founding Sponsors, those donating $1,000 or more, will be recognized on our Honor Board in the store.  Sponsor’s donations are especially useful because these funds are used immediately to generate additional community loans, sponsorships, share subscriptions, site evaluations, equipment purchase, and when time, the hiring of a general manager.

Thank you for your interest and participation in the owner/loan program, an important effort.

Please call Board President Jim Sims at (541) 779-7292 or email the Co-op if you would like additional information.