Thursday, July 3, 2014

Low-Cost Loans to Finance an Employee Buyout, or Grow an Employee-Owned Firm

Last year we featured some information on funding available for worker's cooperatives.  We have found another resource for workers attempting an employee buyout in Ohio or areas near the state of Ohio.  It's the Common Wealth Revolving Fund, which makes available loans of up to $250,000 either for employee buyouts or to finance growth in employee-owned companies.  The fund is centered in the Kent State University Employee Ownership Center, which also offers consultation, training and development for current companies as well as those contemplating a buyout. 

The EOC not only offers consultation to those companies, but business owners that are thinking of exiting, or thinking of selling out to their employees.  They also host seminars and educational programs for business owners who are looking to leave or sell their businesses, to employees or otherwise.  If you are involved in any of these situations, their website would be a valuable resource.

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