W.J. Wheeler Insurance – South Paris, ME

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Industry: Insurance Location: South Paris, Maine Number of employees: 11 Became employee owned: 2019 Assistance: Cooperative Development Institute (CDI) Financing: Cooperative Fund of New England (CFNE) Learn more wjwheeler.com Press Herald – Make it easier for Maine workers to build wealth through ownership (2020) CDI – Leaving A Cooperative Legacy: After Five Generations, the W.J. Wheeler Insurance Agency […]

Ward Lumber – Jay, NY

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Industry: Lumber Location: Jay, New York Number of employees: 50 Became employee owned: In transition Assistance: Cooperative Development Institute (CDI) Financing: Cooperative Fund of New England (CFNE)   Learn more wardlumber.com Adirondack Daily Enterprise – North Country development council unveils 11 priority projects (2019) CDI – CDI’s Business Ownership Solutions Visits the Adirondack North Country (2019)   Employee Owned […]

Cooperative Fund of New England

Forbes – When Banks Say No, Where Do You Go? Ask Boston’s Democracy Brewing.

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From Forbes: Razsa has a bachelor’s degree in community studies and economic justice from the University of California, Santa Cruz. Before becoming an entrepreneur, Razsa was the director of campaigns for 350 Massachusetts for a Better Future, a community organization dedicated to fighting climate change. But Razsa also had five years of experience as a […]

Insource Renewables – Pittsfield, ME

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Insource Renewables is a 10-employee Solar business in Pittsfield, Maine. The original owner recognized his limited capacity to continue to manage and grow his business as a sole proprietor and saw conversion to employee-ownership as a solution that would balance his lifelong commitment and anticipated growth of the business. Insource Renewables provides a unique opportunity […]

Railroad Avenue Supply Company – Stamford, NY

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Location: New York Industry: Hardware Number of employees: 6 Became employee owned: 2018 Assistance: Cooperative Development Institute (CDI) Financing: Cooperative Fund of New England (CFNE) Railroad Avenue Supply Company is a 6-person Ace-affiliated hardware store in Stamford, New York. The owner decided to sell to employees because it would keep the store open and maintain jobs. […]

Capital Impact Partners

Fifty by Fifty – Are Cooperatives Really So Difficult to Finance?

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From Fifty by Fifty: Since 2012, CFNE has financed 15 co-op conversions including providing nine loans for business acquisitions and twelve working capital lines of credit to recently converted businesses. Some of our borrowers include: A Yard & A Half Landscaping Co-op, a largely immigrant co-op serving residences throughout the greater Boston area; Island Employee […]

Capital Impact Partners

NPQ – Report: Business Sales to Worker Co-ops Can Preserve over 1,000 Jobs a Year

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From NPQ: Typically, when US businesses think of employee ownership, the form that ownership takes is an employee stock ownership plan (ESOP) company. The most up-to-date data (from 2015) finds that 10.8 million Americans work at an estimated 6,669 companies in which an ESOP owns all or part of the company. Because an ESOP is a federally regulated […]