- Food: be the source for fresh food in the neighborhood
- Community: invest in community success
- Experience: cultivate the destination for friends to connect
- Innovation: shift the food system and reimagine grocery for everyone
Here’s a sampling of some services that we are considering adding, to demonstrate the potential impact that $25,000 can make at both the First Hill Grocery and, our first neighborhood grocery in South Park:
- Develop pre-order and delivery system
- Build a neighborhood information center in the stores
- Partner with local chefs to host community kitchens and food events
- Build out a bulk food station within the stores
We’ll work closely with our customers to determine which of these services will make the most sense and the most impact in their community.
We continue to receive an incredible response from our customers, both returning and new. They understand what we’re trying to build and are working with us to make sure we can get there! The little ways that they communicate this support – through a nice email, a long conversation in the store, a thank-you note, or a gentle nudge in the right direction – are what keep us going.
Our staff have also been an incredible resource for us over the past year and a half. They are as dedicated to this work as we are and show up every day wanting to build something meaningful, together. Plus, they are a blast to work with!
Stockbox works with 28 suppliers, most of whom are small & local. We’ve hired 12 store staff, from the communities our stores serve, we offer a mix of inventory options to ensure that customers from all economic levels can afford to shop in our stores.
Community Sourced Capital (CSC) provides a simple way for community members to lend money to local businesses they know.
We aggregate many small zero-interest loans (not donations) and turn them into one big loan for a business. We call those small loans Squares and the lenders Squareholders.
We actually think of this kind of lending as “sharing” because the only incentive for Squareholders is to support the business they lend to, not to make a financial return on their loan (hence the zero-interest loan and the low lending maximum of $250).
You can purchase “Squares” for $50 each to help fund part of this CSC loan. As the loan is repaid to CSC, we pay you back, fair and square.
We approve loan requests from businesses with at least a year of proven revenue in their books.
Borrowers pay back loans using a pre-determined percentage of revenue instead of a flat monthly payment plus interest. As such, the payment timelines change as revenue accelerates or decelerates. We send monthly reports to Squareholders so they know how much has been repaid, but we never directly disclose how much revenue the business produced.
At the end of the day, this revenue-based financing is healthy for small businesses, especially those with seasonal revenue or projected growth.
In the case of Stockbox, we calculated the repayment schedule for this loan using one year of proven revenue from the South Park Store and projections for the First Hill store. The full loan is estimated to be repaid as late as 36 months from the time of issuance and as early as 12 months, depending on how much is raised for the business and the growth of the business over time.
If you have extra questions, use the “Ask us” tab on the right side of this page. We’re still learning exactly what community funders want to know about these kind of loans, so your straight-forward input is very much appreciated.