Take action now to advocate for equitable co-op financing

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:

1. 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
2. Sign on to this comment letter as a supporter of removing SBA’s personal guarantee requirement
3. 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 anedd@ncba.coop or Mo Manklang, USFWC Policy Director at mo@usworker.coop.

Keep reading for more context below.

Read the rest at US Federation of Worker Co-ops