Preserving Community Wealth: Forum on Financing Employee Ownership

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Preserving Community Wealth: Forum on Financing Employee Ownership

When and where

Date and time


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

Map and directions

How to get there


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 to bank and non-profit lenders on available resources 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.

This event is free, but space is limited.


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 Importance of Financing Employee Ownership

Keynote Speaker - Dan Wolf, Founder & CEO of Cape Air

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

12:00pm-1:00pm U.S. Small Business Administration on the Main Street Employee Ownership Act

Ili Spahiu, Assistant District Director for Lender Relations, Massachusetts District Office

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 & national bank to preserve a grocery store, hardware store and pharmacy located in a rural coastal town in Maine

Moderator: Micha Josephy, Cooperative Fund of New England

The event concludes at 3pm.

Join us from 4-6pm for a networking opportunity at Democracy Brewing. Registration required: