CDF responds to COVID-19 impact on cooperatives
CDF made grants of over $230,000, provided technical assistance support to apply for and comply with government loan and grants programs, and helped secure personal protective equipment to support cooperatives and institutions in their efforts to combat the economic and health impacts of COVID-19.
With financial support from the National Rural Utilities Cooperative Finance Corporation and Capital Impact Partners, as well as significant contributions from individual donors, CDF made grants to 17 cooperatives totaling over $82,000. All grant recipients were worker cooperatives, a sector dominated by small service industry businesses that have been significantly impacted by the economic effects of the pandemic.
Additionally, CDF's CoBank Donor advised fund provided a grant to the University of Colorado School of Medicine to support its COVID-19 response.
Through CDF's partnership with the ICA Group, home care cooperatives have received assistance applying for and complying with pandemic-related grant programs. With five home care cooperatives receiving loans through the Small Business Administration's Paycheck Protection Program during the first round of funding.
Thanks to a generous donation of face shields by Isthmus Engineering & Manufacturing, a worker cooperative in Madison, Wisconsin, CDF coordinated the ordering and distribution of the donated face shields to home care cooperatives. CDF continues to work with its partners to secure affordable protective equipment for home care workers.