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

By JoeCapital Impact Partners, Cooperative Development Institute, Cooperative Fund of New England, ICA Group, Local Enterprise Assistance Fund, Massachusetts, Shared Capital Cooperative, The Working World, Vermont Employee Ownership Center

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.

Read the full article at:

https://medium.com/fifty-by-fifty/are-cooperatives-really-so-difficult-to-finance-3adec81c70a8