Matt Cropp 🌲🌲Aug 24, 2018

Draft guide I put together today for financing sources for #WorkerCoop conversions. It's tailored to #Vermont, but much of the material is more widely applicable. Comments are turned on and feedback is most welcome: https://docs.google.com/document/d/1r7O5U-ybj6bjx6e1evP_58fPC34WofOjmLB8IU2NrEo/edit?usp=sharing

#coopcapital #coopfinance #WorkersToOwners

Worker Co-op Conversion Financing Summary

Financing Sources for Worker Co-op Conversions in Vermont - DRAFT Prepared by Matt Cropp, Associate Director, Vermont Employee Ownership Center August, 2018 Note: Capital sources are presented in order of their position on the capital stack. Lead Debt: Portion of Deal Financing: Debt from one...

Show threadMatt Cropp 🌲🌲Aug 6, 2018

@nmashton This is usually defined in the bylaws, and can be up to the group.

I'd say the most common approach is the require folks the join the #coop at the end of their trial period, but to empower the board of directors to make exceptions on a case-by-case basis. I do also know #coops for whom, at the end of the probationary period the choice is join or leave.

It ties heavily into how ownership fits into the company culture. #workercoop #workerstoowners #coopconversion

Matt Cropp 🌲🌲Apr 27, 2018

Had my second meeting with a local media outlet whose founders are considering a #workercoop as their exit plan! Both, who own 85% of the company, now seem actively interested in the idea. Next step is to convince the three younger managers, who each own 5%... :)

#WorkersToOwners #workercoops #coopmedia