Frequently Asked Questions
Why Does Co-op HV focus on Co-ops?
Our model of economic and community development focuses on worker-owned businesses, because profits go to employees, not distant investors, building community wealth and strong local economies.
Worker-owned business models allow economically excluded community members to create higher quality, stable jobs for themselves - which means not only increased wages, profit sharing and better training, but also control over their schedules, the ability to shape the internal culture of the workplace, and the power to make important business decisions together.
Our goal is not just good jobs - it’s ownership.
How does Co-op HV support co-ops?
Thus far we have directly supported co-ops in two ways: provide the training and support that workers need to be successful in business ownership and management, and provide access to non-extractive loans, structured to prioritize higher wages and reduce risk for worker owners.
In 2024, we are continuing to prioritize individual projects that need access to capital and we will support additional co-ops as capacity allows.
We also support a broader network of co-ops and the larger cooperative ecosystem through community-based workshops and networking events.
Who does Co-op HV work with?
Co-op HV works with existing and startup businesses in the Hudson Valley with a focus on communities that have historically been excluded from access to economic stability: Black and brown families, women and non-binary people, immigrants and indigenous communities, low-income workers, and others who have faced the brunt of the extractive economy, loss of community infrastructure, and systemic discrimination.
What makes a project a good fit for receiving a loan from Co-op HV?
During our intake process we assess the inclusivity of the team, the community need(s) that are being addressed, the meaningful living wage jobs a project can create for members, and whether there is long-term financial viability with an investment. We look for projects that are owned collectively and adhere to the 7 cooperative principles.
Our work is focused on the following eight counties in New York State: Greene, Columbia, Ulster, Duchess, Orange, Putnam, Rockland and Westchester. We know that community networks, economic impact and ecological systems don't adhere to county lines. Therefore we are willing to consider projects outside of these counties on a case-by-case basis.
What makes Co-op HV loans different?
Critical to launching any business is having access to capital when you need it - which is precisely what economically excluded communities don’t have. Our lending program is designed to provide capital to marginalized communities when other lenders can’t and won’t. We understand the impact of extractive and predatory debt on poor and working class families, and racist lending policies whose legacy continues to impact communities in the Hudson Valley. As a lender and as a member of a national network, we are building a new financial system that is transparent, just, democratic and sustainable.
Non-extraction is one of the key principles of Co-op HV and Seed Commons, and it dictates the terms for all of our loans and investments. Non-extraction is defined simply as a loan in which the returns to the lender never exceed the wealth created by the borrower using the capital.
Our terms are unique and designed so that we, the lender, carry the majority of risk. This allows individuals to focus on growing their business and creating stable, well paying jobs.
See Apply for Loans for more detailed information on loan terms.
Where does Co-op HV loan money come from?
Co-op Hudson Valley is a member of the Seed Commons Cooperative. Member organizations of Seed Commons have a robust network where we share resources, tools and information, and together we steward a shared pool of lending capital that we channel into our local communities.