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Cooperative Fund of New England

Program

The mission of the Cooperative Fund of New England is to advance community-based, cooperative, and democratically owned or managed enterprises. Preference is given to those that serve low-income communities through the provision of prompt financial assistance at reasonable rates, the provision of an investment opportunity that promotes socially responsible enterprise, or the development of a regional reservoir of business skills with which to assist and advise the aforementioned groups.

CFNE provides loans up to $500,000 at fair rates for 3-5 years. Funds for program lending are "social investment loans" provided by individuals, religious groups, cooperatives, and other organizations, such as the Calvert Foundation. There are currently 48 active borrowers. The CFNE loan repayment rate exceeds 98%. Generous loan loss provision and the fund's large equity balance further protect investors. In the 34 years of operation it should be noted that no investor has ever lost his/her investment money.

CFNE also provides technical assistance in cooperative development, financial management, and organizational development to current and prospective borrowers.

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