Minneapolis Co-op Creation Grant Fund

Members of Happy Earth Cleaning Cooperative, a recent worker co-op conversion in Minneapolis, Minnesota.

Apply for a Grant

The City of Minneapolis has appropriated $300,000 in one-time American Rescue Plan Act (ARPA) funds to the Co-op Creation Fund to provide grants to start-up cooperatives and businesses converting to worker-owned cooperatives as a pandemic recovery strategy. Forming cooperatives can apply for up to $25,000 in grant funds to support their formation. Please see the Eligibility and Uses Document for eligible uses of grant funds.

Shared Capital Cooperative is accepting applications on behalf of the City of Minneapolis and will administer the grant funds once approved.

Interested? Review the Co-op Creation Fund – Eligibility and Uses Document.

Contact roderick@sharedcapital.coop or B-TAP with questions.

Description

This program provides grants as a pandemic recovery strategy to start-up cooperatives and businesses converting to a cooperative structure.

Apply for a Grant

Maximum grant amount

Up to $25,000 per co-op, $5,000 minimum grant amount.

Allowable Uses

Eligible uses of grant funds must be associated with the creation/conversion of the Cooperative and may include:

• Feasibility studies
• Appraisals
• Legal fees for legal review, legal agreement drafting and formation documents
• Registration fees (e.g., as new or amended entity)
• Preparation of financial statements and/or tax documents
• Creation of a sales agreement
• Creation of new guiding operational documents or systems, e.g., employee/worker-owner manual or accounting system set-up

Eligible recipients of grant funds are:

Individuals who were negatively impacted economically by the pandemic or the resulting recession who are forming a cooperative.

Small businesses that are transitioning to a cooperative model.

The cooperative must be located in the City of Minneapolis. Service cooperatives with no physical location must serve Minneapolis residents or businesses.

Not eligible: Housing cooperatives and non-profits