Making a More Democratic Economy, One Revolving Loan Fund at a Time


Advancing the model of worker ownership requires expanding access to loans for cooperative businesses. In California, Berkeley City Council recently adopted changes to its Loan Fund for small businesses, allowing businesses without a CEO to apply for a loan. The City Council and Loan Administration board approved an idea put forth by the Sustainable Economics Law Center (SELC), which will permit coops to appoint a panel of owners to serve as guarantors of a loan, in lieu of a single CEO.

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