ICA Group

Fast Company – How Massachusetts is working to get retiring business owners to let their employees take over

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From Fast Company: Massachusetts wants to nudge these business owners toward another option: selling their companies to their employees. The state hired two nonprofits with expertise in shifting to employee ownership models–Working World and ICA Group–to revive its Office for Employee Involvement and Ownership (EIO), which was initially established in the late 1980s but faded […]

L&S Printing – Queens, NY

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Location: Queens, New York Industry: Printing Number of employees: 4 Became employee owned: 2018 Assistance and financing from: The Working World L&S Printing has been a community institution in Far Rockaway for over 20 years, providing printing and computer repair services primarily to local schools and churches. Since the beginning of 2017, The Working World has […]

Cincinnati Union Cooperative Initiative

NPQ – A National Worker Co-op Financing Network Emerges

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From NPQ: “In 2017, Minnesota was named the second-most unequal state for Black people in a study of Black and White inequality by 24/7 Wall St., a financial news and opinion website,” reports Ivy Brashear for Yes! Magazine. In particular, Minneapolis’ Northside has a severe shortage of shopping centers, grocery stores, and banks. Poverty is widespread in the city’s Near […]

Minnesota

Yes – The Co-op That’s Keeping Community Money Out of Big Banks

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From Yes! Magazine: The Financial Cooperative calls its task “nonextractive” or “regenerative finance.” The goal is to give control of capital to communities that have been most marginalized, but also to funnel capital into those communities. It believes in cooperative control of community financial institutions and set itself up as a cooperative nonprofit, with each […]

Cincinnati Union Cooperative Initiative

Yes – The Co-op That’s Keeping Community Money Out of Big Banks

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From Yes Magazine: Connelly’s credit union is part of a strategy by a nonprofit consortium of investors, financial organizations, and community development groups known as the Financial Cooperative to set up locally controlled loan funds across the country. The cooperative’s founders believe investing and lending in marginalized communities can counteract historical wealth extraction, which happened […]

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 […]

Brooklyn Stone and Tile, Brooklyn NY

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Location: New York Industry: Manufacturing Number of employees: 8 Became employee owned: 2018 Assistance and financing from: The Working World Brooklyn Stone and Tile is a converted 8 employee business with a pilot three worker-owner cooperative that sells and installs tiles and marble countertops in New York City. The owner chose to sell to employees […]