Kansas dairy tries to raise $650K to pay off debt
Published on -9/24/2013, 12:18 PM
TECUMSEH, Kan. (AP) -- A Kansas dairy is trying to raise $650,000 in less than two months to pay off its debt and expand the company.
The Topeka Capital (http://bit.ly/18Vn4Rk ) reports that the Iwig Family Dairy, based in Tecumseh, hopes to raise $650,000 in 45 days through online donations.
"This campaign is just the boost that we need to help ensure that the farm is around for another 100 years, producing the best milk in the country," owner-operator Tim Iwig said. Iwig filed for Chapter 12 reorganization in November 2012.
The dairy announced the fundraising campaign in a news release Tuesday.
Donation options ranging from $5 to $10,000 at Indiegogo.com are marked to save increments of square feet on the 108-acre farm. Donations can also go toward naming rights to new calves.
The campaign follows the opening of a new Lawrence store that the company says is also part of the plan to exit bankruptcy. Pledges will be used to pay creditors and fund new stores in Topeka and Manhattan, the news release said.
Iwig says he also plans to turn a portion of the farm into a community garden, with the garden providing free vegetables to residents and charities.
Information from: The Topeka (Kan.) Capital-Journal, http://www.cjonline.com