July 30, 2020
We hope that you and yours are safe, healthy, and finding ways to renew your spirit this summer. There are several resources and time-sensitive opportunities that we wanted to share to benefit your co-op:
LISC Small Business Relief Grants /
Subvención de Ayuda a Pequeñas Empresas del LISC
LISC is making
Small Business Relief Grants
to small businesses facing financial pressure because of Covid-19. This national program provides grants between $5,000-$20,000 to for-profit small businesses, with priority for entrepreneurs of color, women- and veteran-owned businesses and other enterprises in under-served places who don’t have access to flexible, affordable capital.
Click here to apply
Your application must be completed by Monday, August 3rd, 11:59 p.m. ET.
August 8 Deadline and Changes to PPP
The last day to apply for the Paycheck Protection Program is August 8, 2020. Under new rules, borrowers have 24 weeks to use PPP money for payroll and other allowable expenses to receive full forgiveness. Your circumstances may have changed if you reopened and have qualifying payroll, members lost unemployment benefits, or other reasons.
about whether this forgivable loan could help your co-op. CFNE staff is also available to help you think through an application.
Follow the Money: Cash Flow Forecasting
One of the best things any co-op can do right now is to understand how money is flowing in and out. Cash flow forecasting helps you to know that you will have enough to pay expenses. If you will come up short, you can see when and by how much, so that you can take action. Here’s a good
webinar and presentation
that shows you how, or ask your loan officer.
Free Governance Education
/ Educación Gratuita de Gobernanza
Para español, continúe hacia abajo
In partnership with the Boston Center for Community Ownership, we are offering a 2-part, virtual workshop series on Cooperative Governance. English sessions will be Tuesday August 18 & 25, from 6-7:30 pm. Spanish sessions will be Thursday August 20 & 27, from 5-7 pm. Attendees will learn common rights and responsibilities of co-op members, the distinction between governance and management, and ways to determine “who decides what” in your co-op. These free workshops will be interactive and give time and space for participants to support each other and share their wisdom.
En alianza con Boston Center for Community Ownership, ofrecemos una serie de 2 talleres en línea sobre Gobernanza Cooperativa. Talleres en español serán jueves 20 y 27 de agosto, de 6-7:30 pm. Talleres en inglés serán martes el 18 y 25 de agosto, de 6-7:30 pm. Asistentes aprenderán los derechos y responsabilidades usuales de lxs miembrxs de cooperativas, la distinción entre gobernanza y gestión, y formas de determinar "quién decide qué" en su cooperativa. Estos talleres gratuitos serán interactivos y darán tiempo y espacio para que lxs participantes se apoyen mutuamente y compartan sus conocimientos y experiencia.
Co-op IMPACT is a cross-sector cooperative conference, full of educational and networking opportunities. IMPACT 2020 focuses on how co-ops can create diverse, equitable and inclusive workplaces and boards to better meet the needs of their communities.
Register by August 15
to lock in the early-bird rate of $35. Saint Mary's University is also offering a course on
Member-Centered Governance and Management.
As always, please contact your loan officer or reach out to us at firstname.lastname@example.org if there are ways that CFNE can support your co-op.