When workers have the power to drive businesses, we all benefit.
Patchwork Cooperative Loan Fund is a community wealth fund that exists to help develop and support democratically controlled or worker-owned cooperative enterprises that serve the Lexington community. We do this through free technical assistance, “non-extractive” business loans, and building community.
We are connected to a network of loan funds across the country, the Seed Commons Peer Network, and a regional network called the Southern Reparations Loan Fund.
We share a set of core principles with the other loan funds in the national network which include:
Productive Sustainability – investing financial resources in local projects that create self-determination and economic independence.
Maximizing Community Benefit – only projects that demonstrate that they meet community needs and promote social, racial, economic, or environmental justice will be financed.
Radical Inclusion – PCLF facilitates lending to people who are and have been historically excluded from access to mainstream sources of capital and technical assistance.
Non-Extraction – the needs of a community are placed before the “needs” of capital; repayment of investments comes from a project’s increased surplus, not from prior existing business or personal assets. Non-extraction also refers to the practice of not financing projects that exploit a community or its workers for the financial gain of the lender.
What We Do
Cooperative Business Development
Research shows that when workers collectively own and make decisions for a business that the business in not only more profitable but that workers also report higher levels of happiness and fulfillment. Patchwork is here to provide the ongoing technical support and incubation that is needed for both worker-owned cooperative start-ups and the conversion of existing business to worker-ownership
Non-Extractive Loans
Our loans are designed to be accessible for people who have traditionally been left out of finance (no-credit check, no personal collateral) and we are invested in the success of the enterprises we support.
We know that accessing the capital you need to succeed can be difficult and daunting so we’re here to help you every step of the way. And we don’t ask for the money to be repaid until your business is making a profit.
community building
We believe that worker-ownership and cooperation will help enrich the lives of Lexingtonians and build the mindset of participation in local democracy. To this end we will be hosting regular workshops and assemblies to bring together community members, learn from each other and build a shared base of knowledge around worker-ownership, participatory governance and community engagement.
Find Out More.
Want to learn more about upcoming community workshops or explore ideas for worker-owned enterprises in the Central Kentucky area? Drop us a line.