MANNA Food Co-op has surpassed its phase one capital campaign goal for a planned expansion and has signed a lease at its new storefront.
Financing and technical assistance from MMCDC helped the co-op to open in 2018 at its current Detroit Lakes, Minn., location. When a larger space became available downtown, MANNA saw an opportunity to connect more community residents and visitors with local producers. MMCDC supported the co-op’s phase one fund-raising goals by converting a portion of its debt to equity financing via preferred co-op shares.
“The membership is strongly committed to the future success of the store, and so are we,” MMCDC President Julia Nelmark said.
The co-op continues working toward its ultimate fund-raising goal of $400,000.
