Loans & Grants
Seed Fund Grants
2012 Grant deadlines have not been announced yet. We do expect to have some funds available for both rural and urban startup support in 2012. Please do not submit requests at this time.
To get a general idea of the grant requirements, you can look at last year's forms. There will be some changes in 2012 including eligibility for urban co-ops.
Application Form Application Guidelines
The Food Co-op Initiative Seed Fund was created to provide early development capital to co-op organizing groups that wish to partner with us in their endeavor. In addition to the grant award, we will commit to regular follow-up and assistance with your team.
Grants are available up to $10,000 when funds are available. We depend on the generosity of other organizations to support this grant program and only a limited number of awards can be offered. The grant money must be matched in equal dollars by the newly forming co-op. These matching funds are usually raised through membership equity and other community sources.
Selection Criteria
The applicant must intend on becoming a cooperative organization and fully understand the cooperative structure, values, and principles. They should be able to articulate a clear vision, and have organized a strong, committed team to their endeavor. Priority is given to co-ops with a high likelihood of feasibility, potential for significant community impact, and evidence of strong partnerships and support. Specific criteria for grants may change from time to time and will be posted when we are accepting applications.
Sprout Fund
The Sprout Fund is a pool of dollars dedicated by NCB for the purpose of providing capital during the mid to later stages of planning and implementation. Food Co-op Initiative reviews applications from incorporated cooperative organizations and makes recommendations to NCB on whether the loan application should be approved.
Loans may be requested for up to $25,000 and must be matched in equal dollars by the cooperative.
Selection Criteria
The uses of the Sprout Fund loans are specifically designed for new co-ops that have completed all of the organizing activities and are ready to move forward. The cooperative must be in good standing within its various jurisdictions of operation and be able to provide legal documentation that supports its current status. It must provide fundraising results, financial statements, or other needed documents in order to verify the co-op's current financial condition. Applicants must be able to describe their vision and the strength of their leadership team, including board and management. Membership size, financial projections, market research, and impact in your community are taken into consideration. Finally, the loan must be matched by funds from the cooperative.
