Cleveland
Co-op Fund

Non-extractive financing for co-ops

The Cleveland Co-op Fund
The Cleveland Co-op Fund offers non-extractive loans to cooperative projects in the Cleveland area as a peer fund of the national Seed Commons network. In 2023 we made our first loans totaling $450,000 to Rust Belt Riders, a composting co-op with 14 worker-owners and $2 million in annual revenue.

What is Non-Extractive Financing?
Loans made through non-extractive financing have more favorable terms than those of traditional lenders: repayment is due only when the business is profitable, no personal collateral or credit scores are required, and interest is non-compounding. Unlike traditional financing, non-extractive financing is designed to never leave the borrower worse off.

This type of financing works because we build supportive relationships with our borrowers and become invested in their success. We provide technical assistance to prepare a loan application together and continue providing it all the way through each loan's full repayment in the following ways:

  • Business plan coaching
  • Setting up finance systems such as open-book accounting
  • Navigating governance and cultural questions in running a co-op
  • Marketing and light operational support

Through our network of peer funds and co-ops, we make sure borrowers get the resources they need at every step!

Interested in Non-Extractive Financing?
Are you raising money to fund a new worker or community-owned co-op, co-op housing project, co-op marketing or purchasing collective, or other cooperative endeavor?  Get in touch with us to explore how the Cleveland Co-op Fund could work for you at info@clevelandowns.coop
Rust Belt Riders worker-owners in 2023 - Celebrating the induction of 9 employees into co-ownership of the business.
New truck bought with loan provided by the Cleveland Co-op Fund - In July 2023, the Cleveland Co-op Fund provided a loan for Rust Belt Riders to buy a new truck they have since named "Tippy" to improve their hauling operations. This truck has an automated tipping arm for emptying bins, improving efficiency and helping bring more dignity to workers' everyday experience.
Food scraps collected by Rust Belt Riders - To be turned into compost!
Seed Commons Network - The Seed Commons Network is comprised of 34 organizations across the country stewarding "peer funds" like the the Cleveland Co-op Fund. All loans and cooperative development work is done by these peers, most of which work in their local area or specific communities–though some work nationwide. If you're not in Cleveland and are interested in co-op development or looking for financing, reach out to a peer near you!

Rust Belt Riders worker-owners in 2023 - Celebrating the induction of 9 employees into co-ownership of the business.
New truck bought with loan provided by the Cleveland Co-op Fund - In July 2023, the Cleveland Co-op Fund provided a loan for Rust Belt Riders to buy a new truck they have since named "Tippy" to improve their hauling operations. This truck has an automated tipping arm for emptying bins, improving efficiency and helping bring more dignity to workers' everyday experience.
Food scraps collected by Rust Belt Riders - To be turned into compost!
Seed Commons Network - The Seed Commons Network is comprised of 34 organizations across the country stewarding "peer funds" like the the Cleveland Co-op Fund. All loans and cooperative development work is done by these peers, most of which work in their local area or specific communities–though some work nationwide. If you're not in Cleveland and are interested in co-op development or looking for financing, reach out to a peer near you!