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

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 Co-op, a remote coastal Maine grocery and hardware retailer; and Ewing Controls, a specialized manufacturer of steam turbine controls in Greenfield, MA. To ensure the success of these businesses, CFNE’s partners with co-op developers, including the Cooperative Development Institute, the ICA Group, Vermont Employee Ownership Center and others, to promote employee ownership, assess project feasibility, and train worker-owners. While we have financed some projects independently of technical assistance partners, they are uncommon.

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