About Shared capital cooperative
Shared Capital Cooperative: Building Economic Democracy through Co-op Financing
Shared Capital Cooperative, formerly known as Northcountry Cooperative Development Fund (NCDF), is a national Community Development Financial Institution (CDFI) loan fund that connects co-ops and capital to build economic democracy. The organization has been providing financing and technical assistance to cooperatives for over 40 years, making it one of the oldest CDFIs in the United States.
The mission of Shared Capital Cooperative is to support cooperative enterprises that create meaningful jobs, provide affordable housing, and promote sustainable communities. The organization believes that cooperatives are a powerful tool for building economic democracy because they empower people to work together towards common goals. By providing financing and technical assistance to cooperatives, Shared Capital helps these businesses thrive and grow.
Shared Capital offers a range of financial products designed specifically for cooperatives. These include loans for start-up capital, working capital, equipment purchases, real estate development, and more. The organization also provides technical assistance to help co-ops develop business plans, improve their governance structures, and strengthen their operations.
One of the unique features of Shared Capital's lending program is its focus on member-owned cooperatives. Unlike traditional lenders who require collateral or personal guarantees from individual borrowers, Shared Capital looks at the collective strength of the cooperative as a whole when evaluating loan applications. This approach allows co-ops with limited assets or credit history to access affordable financing that might otherwise be out of reach.
Shared Capital has provided financing to hundreds of cooperatives across the United States in sectors such as food co-ops, worker-owned businesses, housing co-ops, renewable energy projects and more. Some notable examples include Equal Exchange Coffee Roasters in Massachusetts; Union Cab in Wisconsin; Mississippi Market Natural Foods Co-op in Minnesota; Weavers Way Co-op in Pennsylvania; Red Emma's Bookstore Coffeehouse in Maryland; Real Pickles in Massachusetts; Arizmendi Bakery Cooperatives in California; and many more.
Shared Capital's impact goes beyond just providing financing to cooperatives. The organization is also committed to building a more equitable and sustainable economy. Shared Capital works with partners across the country to promote policies that support cooperative development, such as the Main Street Employee Ownership Act, which was signed into law in 2018. The organization also advocates for racial equity in co-op development, recognizing that historically marginalized communities have been excluded from access to capital and resources.
In addition to its lending program, Shared Capital offers a range of educational resources for cooperatives and those interested in starting or growing a co-op. These include webinars, workshops, publications, and one-on-one technical assistance. Shared Capital's staff are experts in cooperative finance and governance, with decades of experience working with co-ops of all sizes and sectors.
Overall, Shared Capital Cooperative is an essential player in the world of cooperative finance. Its commitment to economic democracy through co-op financing has helped hundreds of businesses thrive while promoting a more equitable and sustainable economy. If you're looking for affordable financing or technical assistance for your cooperative business or are interested in learning more about cooperatives as a tool for community development - look no further than Shared Capital Cooperative!