Calendar

Preserving Community Wealth: Forum on Financing Employee Ownership

Dates: 

September 19, 2019
10:00am - 3:00pm

Location: 

Federal Reserve Bank of Boston
New England Room
600 Atlantic Ave
Boston, MA 02210

Across New England, established small businesses- most of them healthy and viable – are closing (rather than being sold) as owners age and retire. These established businesses drive local prosperity and ensure vibrant local economies.

To retain quality jobs and anchor successful businesses in communities, more state and federal programs are supporting the conversion of legacy businesses to employee ownership.

In response, MCBC is hosting this important convening to provide practical advice on resources available to bank and non-profit lenders as well as how to source and underwrite these transactions.

Who should attend
This event invites community development corporations, community development financial institutions (CDFIs), credit unions, and regional banks from across New England to explore the economic potential of employee ownership.

Agenda
Sessions will highlight the current ecosystem of state and federal resources, feature owners who have sold their business to their employees, and explain the mechanics of financing transactions.

  • 10-10:15am       Registration
  • 10:15-10:30am  Welcome and Introduction 
  • 10:30- 11:00am  U.S. Small Business Administration on the Main Street Employee Ownership Act
    • Ili Spahiu, Assistant District Director for Lender Relations, Massachusetts District Office
  • 11:00-12:00pm   State-level Initiatives to support cooperative and employee owned businesses
    • Moderator Joshua Daly, RI Small Business Development Center Director, Southern Region
  • 12:00-1:00pm   Lunch & Keynote Speaker 
  • 1:15-2:00pm     Pipeline Development & Regional Resources
    • Moderator: Jennie Msall, ICA Group
  • 2:00-2:45pm    Underwriting & Risk Factors
    • A case study of $3.7 million in financing from two CDFIs & a national bank to preserve a grocery store, hardware store and pharmacy located in a rural coastal town in Maine

Moderator: Maggie Cohn, Cooperative Fund of New England

Registration fee: 

Free

Type of event: 

Partner Events

Learning area: 

Economic Development