Arlington, VA (November 29, 2023) — National Cooperative Bank (NCB), a leading financial institution dedicated to providing banking solutions to cooperatives and socially responsible institutions nationwide, is pleased to announce the closing of a $950,000 SBA 7(a) loan to Lovettsville Cooperative Market, a member-owned food co-op in Lovettsville, VA.
The Lovettsville Cooperative Market which now has over 1,200 owners opened to serve the community on November 1, 2023. The co-op will purchase from local farmers as much as possible, implement environmental best practices, work to build an inclusive community that welcomes all while sharing information about the link between food and health.
“New start up food co-ops can be difficult,” stated Dami Odetola, Vice President at National Cooperative Bank. “The co-op has had great support of the community and has worked hard since 2011 to make the opening of the co-op a reality. We look forward to continuing our support of Lovettsville and their commitment to their community.”