NewsNorthwest Cooperative Development CenterOregon

USDA provides grants to nonprofit to teach communities about co-ops

From The World:

By the year 2024, everyone from the Baby Boomer generation will be over 60-years-old. NWCDC hopes to talk with business owners who will be looking to retire soon and inform them how they can transition their business into a co-op. “Rather than have these business disappear and the jobs disappear with them, one option is selling to their employees as a worker co-op,” McNamara said. Funding for the Legacy Project comes alongside the passing of the Main Street Employee Ownership Act in the house, which amends the Small Business Act to expand the authority of the Small Business Administration to guarantee loans for qualified employee trusts of a small business to purchase the stock of that business.

Read the full article at:

https://theworldlink.com/news/local/usda-provides-grants-to-nonprofit-to-teach-communities-about-co/article_e79de4ac-3730-53a7-8046-1c54ab3f5ee3.htm