The Co-operators Providing Capital For Co-ops To Pivot During Pandemic
GUELPH, ON, Oct. 7, 2020 /CNW/ – Through Co-operators Community Funds, The Co-operators is reinforcing ongoing co-operative sector support by making $1 million in patient capital available through its newly launched Co-op Impact Program. The focus of the program is to support small and medium-sized co-operatives as they adapt in a shifting economic landscape in the wake of the COVID-19 pandemic.
“Innovating products and services to best support their members, employees and communities during the uncertainty of a pandemic can be challenging, but securing capital to support innovation doesn’t have to be,” says Collette Robertson, Chairperson – Board of Directors, Co-operators Community Funds. “We also believe that in times like these it is more important than ever for co-ops and their members to continue to support one another, which is why strengthening a vibrant co-operative movement in Canada as they adapt to emerging needs is crucial.”
The $1 million Co-op Impact Program is made available through Co-operators Community Funds (CCF), and furthers efforts to invest 10 per cent of its investment portfolio into community impact investments, which generate a financial rate of return while contributing to social and environmental benefits. Through the Co-op Impact Program, patient capital, in the form of low interest loans between $40,000 to $100,000 will be made available to individual co-operatives whose new or existing project-based initiatives are supporting their efforts to thrive in the COVID-19 environment.
Canadian co-operatives can complete a 5-minute self-assessment to find out if they are eligible to participate in the Co-op Impact Program. Learn more about the Co-op Impact Program.