Iwig Family Dairy began offering shares to its customers at $1,000 a share in an effort to save the business from foreclosure.
Tim Iwig, owner, said they have a couple of interested parties for several thousand dollars and a number of people interested in simply purchasing one share for $1,000.
But, they still have a way to go to meet Thursday’s deadline. That’s when Iwig needs about $40,000 or the bank will begin to foreclose his business.
Iwig intends to be able to begin paying dividends to shareholders in at least two years.
“An investment in Iwig Family Dairy will help to keep us operating and will be a beginning step to move our debt from the bank to private hands,” he said.
Iwig is hoping to keep the business open and move it into a new phase where the dairy farm will offer milk in glass bottles and plastic containers.
“We believe the plastic will capture the customers that have not been buying our milk due to the added cost of the bottle deposit,” Iwig said.
To contact Iwig, call the store at 785-379-9514.