The federal government is currently updating regulations for programs across several departments, including a few which address access to financing for cooperatives. The USFWC has worked with partners to articulate and vet responses to these updates to ensure co-ops have continued and expanded access to financial options.
We ask you to submit comment and tell the Small Business Administration and Treasury Department to ensure co-ops can access two important finance options: The Small Business Administration’s loan programs, and the Treasury Department’s CDFI Fund.
Here are the three important actions:
- Submit a letter of support to the Department of Treasury here on your letterhead using this template, telling them to ensure co-ops can access CDFI funds
- Sign on to this comment letter as a supporter of removing SBA’s personal guarantee requirement
- Submit your own comment letter using this template as a supporter of removing SBA’s personal guarantee requirement (yes, doing both helps!)
A few minutes of your time can make a huge difference in making sure co-ops have access to financing.
If you have any questions, email Aaliyah Nedd, NCBA CLUSA Government Relations Manager at firstname.lastname@example.org or Mo Manklang, USFWC Policy Director at email@example.com.
Keep reading for more context below.