Philadelphia-based Weavers Way Co-op is one step closer to opening a new Montgomery County location, and its third overall, after receiving $1.5 million through a loan campaign — nearly double the original goal.
Weavers Way Co-op — which was established in the West Mount Airy neighborhood of Philadelphia, and in 2010 opened a second location in Chestnut Hill — has plans to open a third grocery store in Ambler in April 2017.
That expansion is one step closer to reality.
Weavers Way's Together We Grow member loan campaign has garnered more than $1.5 million from over 300 individual lenders. The figure surpasses the original goal of $800,000 and the revised mark of $1 million, according to the company.
"This was a complete win-win,” General Manager Jon Roesser said. “Not only would we prefer to pay interest to our own members over other lenders, but the success of the member loan campaign has also demonstrated our credibility to other lenders and added significant flexibility to the overall funding of this $4.3 million expansion.”
The location will be Weavers Way's first foray into Philadelphia's suburbs, taking over a former Bottom Dollar store.
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