{"id":122,"date":"2014-06-16T21:15:06","date_gmt":"2014-06-17T02:15:06","guid":{"rendered":"http:\/\/openproduce.org\/blog\/2014\/paying-off-our-lendsquare-loan\/"},"modified":"2014-06-16T21:15:06","modified_gmt":"2014-06-17T02:15:06","slug":"paying-off-our-lendsquare-loan","status":"publish","type":"post","link":"https:\/\/openproduce.org\/index.php\/2014\/06\/16\/paying-off-our-lendsquare-loan\/","title":{"rendered":"Paying off our LendSquare loan"},"content":{"rendered":"<p>As long-time customers (or blog readers) will remember, two summers ago we <a href=\"http:\/\/openproduce.org\/blog\/2012\/an-update-on-our-customer-financed-air-conditioner\/\">borrowed $7,000 to finance a new mini-split air conditioning system<\/a> capable of keeping the store cool in the summer.  This keeps our produce fresh, our chocolate unmelted, and even provides our customers with a cool refreshing break from sun-soaked 55th Street every summer.<\/p>\n<p>The loan was not from a bank, it was from our customers and friends through a site called <a href=\"http:\/\/lendsquare.com\">LendSquare<\/a>.  It&#8217;s like Kickstarter, but instead of donating money, you are lending it &#8212; you get your money back, with interest &#8212; and you are lending money to businesses you know and already have a relationship with in your community.  We got a very good interest rate (thanks, customers!) and access to capital that traditional banks wouldn&#8217;t provide to us.  Working with LendSquare has been great every step of the way, and we applaud their efforts to humanize the allocation of capital and remove faceless banks as a middleman in the process of lending money.<\/p>\n<p>Today, 24 monthly payments later, we made our final payment to LendSquare, successfully ending our loan.  Now we just need to figure out what project we&#8217;re going to finance with LendSquare next!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As long-time customers (or blog readers) will remember, two summers ago we <a href=\"http:\/\/openproduce.org\/blog\/2012\/an-update-on-our-customer-financed-air-conditioner\/\">borrowed $7,000 to finance a new mini-split air conditioning system<\/a> capable of keeping the store cool in the summer.  This keeps &#8230;<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-122","post","type-post","status-publish","format-standard","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/openproduce.org\/index.php\/wp-json\/wp\/v2\/posts\/122","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/openproduce.org\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/openproduce.org\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/openproduce.org\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/openproduce.org\/index.php\/wp-json\/wp\/v2\/comments?post=122"}],"version-history":[{"count":0,"href":"https:\/\/openproduce.org\/index.php\/wp-json\/wp\/v2\/posts\/122\/revisions"}],"wp:attachment":[{"href":"https:\/\/openproduce.org\/index.php\/wp-json\/wp\/v2\/media?parent=122"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/openproduce.org\/index.php\/wp-json\/wp\/v2\/categories?post=122"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/openproduce.org\/index.php\/wp-json\/wp\/v2\/tags?post=122"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}