Monday, May 13, 2013

Source of Funding for Worker's Cooperatives

We have several posts on financing and other help for business, but we've found another one--for worker-owned cooperative businesses.  We note the story of the New Era Windows Cooperative of Chicago, formerly Republic Windows and Doors.  In 2008, the plant was scheduled to be closed by its owners, and was occupied by its workers.  The factory was then purchased by another firm, and again scheduled for shuttering.  This time, the workers decided to buy the business themselves.  And who would finance it? 

That would be the organization The Working World.    It's an NGO that loans money for worker's cooperatives in Nicaragua, Argentina, and now, the United States.  Besides New Era Window, they have also provided a loan for a cooperative cleaning business in Brooklyn to expand.  Contact them on their website or call them at 646 257 4144. 

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