So far we have raised enough to get started on the new ventures and make a deposit on the premises but not enough to complete their purchase. We are focusing the community funds on buying the shop first and then Elmswood House. If we can get past £350,000 we can buy the village shop and fund its purchase costs without seeking outside investment. If this happens we can fund our working capital and the purchase of Elmswood from our business income and grants we have already secured – we would also continue to raise community loan pledges.
We have decided to actively concentrate on community fund raising until the end of March, then if there is a shortfall in the funds to purchase the shop, to avoid delaying our progess we will have to turn to our corporate investors to finance the difference. We will host another community event on the 20th of March (details to be announced soon) before making this decision.