Seven Days and WCAX Channel 3 News recently featured Dunkiel Saunders client Morrisville Food Coop, documenting a fundraising effort the co-op is using, known as the Member Loan Program. The program allows members residing in Vermont to make loans to the co-op to help launch the new store—which is affectionately known as MoCo for short.
Attorneys Mark Saunders and Drew Kervick assisted MoCo in pursuing a securities exemption for these loans, known as the Vermont Small Business Offering Exemption (VSBOE). This exemption became available to Vermont businesses in 2014, to make it easier for Vermonters to invest in a local business. Read more about the VSBOE here.