The Working World

What The Working World does

The Working World (TWW) is a 501(c)(3) nonprofit and U.S. Department of the Treasury-certified Community Development Financial Institution (CDFI) that provides non-extractive investment capital to worker-owned cooperatives and to businesses converting to employee ownership. Founded in 2004 by Brendan Martin and Avi Lewis and operationalized in 2005, TWW originated its model by financing recovered factories (fábricas recuperadas) in Buenos Aires after the 2001 Argentine economic crisis, subsequently expanding to León, Nicaragua (2008) and New York City (2012). Its core technology is a non-extractive finance architecture: cash-flow-based underwriting replaces collateral and personal guarantees, and loan returns are tied to project success rather than extracting fixed debt service from borrowers. This is paired with a hands-on Cooperative Academy training program and an Employee Ownership Conversion service that helps incumbent owners sell to their workers, including IRS Section 1042 tax-deferral guidance.

TWW's products and services comprise four core lines: (1) non-extractive investment capital deployed directly to cooperatives through an application process (with national U.S. referrals now routed to Seed Commons); (2) the Employee Ownership Conversion / Sell Your Company program; (3) the Cooperative Academy business training curriculum; and (4) donation and monthly sustainer programs ($5-$50/month tiers). TWW is a founding member of Seed Commons, a national network of locally-rooted non-extractive loan funds that provides shared infrastructure across the U.S. cooperative finance ecosystem, and the founder and senior team hold board and advisory roles across the cooperative movement (NYC NOWC, BALLE, New Economy Project, Southern Reparations Loan Fund, New Era Windows, Brooklyn Stone & Tile, California Harvesters).

The revenue model blends two streams: program-related investment returns from the loan portfolio (a transaction-fee model in which TWW is repaid only when projects succeed) and charitable contributions (donations, monthly sustainers, grants). Cumulative scale includes over 1,000 investments, 210+ democratically-owned companies financed, a 98% repayment rate, and over $4 million lent across three countries; documented recent capital activity includes a ~$26M raise in 2021, a $1.49M CDFI Fund award in 2023, and a $350K round in 2025. TWW operates from Brooklyn with offices in Buenos Aires and León, serving worker cooperatives in NYC and within reach of Seed Commons partner organizations, with name-brand borrowers including The Drivers Cooperative, New Era Windows, DONNA, Bright Learning Stars, Brooklyn Stone & Tile, Cooperativa La Leonesa, and Cooperativa La Toma.

Name

The Working World

Legal name

The Working World

Website

https://theworkingworld.org

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

1–10 employees

Short description

The Working World is a 501(c)(3) nonprofit and certified CDFI that provides non-extractive, collateral-free loans plus training and employee-ownership conversion services to worker cooperatives in the USA, Argentina, and Nicaragua.

Ownership category

akta.pro rank

Product category

Community Development Finance / Cooperative Lending Services

NAICS

Professional Organizations (81392)

SIC

Finance Services (6199)

akta.pro primary industry

Agricultural & Rural Cooperatives (Farm Credit/Co-op Banks) (FSABAEAG)

Keywords

• Cooperative lending
• Non-extractive finance
• Worker cooperative financing
• Employee ownership conversion
• Community development finance

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Non-extractive Loan Returns: The organization provides investment capital to worker cooperatives and returns are tied to project success. Revenue is generated only when the projects they invest in succeed.
2. Donations and Charitable Contributions: Registered 501(c)(3) organization that receives donations from individuals and institutions. Monthly sustainer programs and one-time gifts support their lending activities.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels4 records

Core offering

The Working World provides non-extractive investment capital to worker cooperatives and businesses converting to employee ownership, using cash-flow-based underwriting instead of personal guarantees or collateral, with loan returns tied to project success. It pairs this lending with hands-on business training through its Cooperative Academy, an employee ownership conversion advisory service, and accepts charitable donations and monthly sustainer contributions to capitalize its loan fund.

Product overview

The Working World is a non-profit financial services organization offering non-extractive investment capital for worker-owned cooperatives. The core offering combines loan products (Investment Capital for Worker Cooperatives) with hands-on business support through Cooperative Academy training programs. Additional services include Employee Ownership Conversion Program (Sell Your Company) for businesses transitioning to worker ownership, and Donation/Monthly Sustainer Programs for public contributions. The organization operates as a 501(c)(3) registered nonprofit and Community Development Financial Institution (CDFI), providing capital to cooperatives in Argentina, Nicaragua, and New York City without requiring collateral or extracting wealth from borrowers. Seed Commons serves as the umbrella network for non-extractive cooperative finance across the United States. The model has achieved a 98% repayment rate across over 1,000 investments in more than 200 democratically-owned companies.

Differentiator

Problem solved

Functional benefit

Products and services

• Non-Extractive Investment Capital for Worker Cooperatives Loan product providing investment capital to worker-owned cooperatives and businesses converting to worker ownership using a non-extractive model that ties loan returns to project success rather than requiring collateral or personal guarantees. Targeted at democratically-owned SMBs that mainstream banks typically exclude.
• Employee Ownership Conversion Program (Sell Your Company) Service for traditional business owners that provides capital and structured advisory to transition ownership to employees via cooperative conversion, including Section 1042 tax-deferred rollover guidance. Enables worker-owned conversions without broker fees.
• Cooperative Academy / Business Training Programs Multi-month hands-on business curriculum and training program developed for cooperative formation and management, tailored to inexperienced entrepreneurs and offered alongside incremental loan disbursement.
• Donation and Monthly Sustainer Program Charitable giving program offering one-time tax-deductible donations and tiered monthly sustainer subscriptions that capitalize the organization's loan fund for worker cooperatives.

Quantifiable outcome

• 98% repayment rate from income generated through investments
• +4 more outcomes

Named customers7 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Seven partnerships are on record, tiered core, minor and flagship.

• Seed CommonscoreStrategic or Co-development Partner · 1 January 2012National network of locally-rooted, non-extractive loan funds of which The Working World is a founding member. Seed Commons provides the infrastructure for non-extractive finance across the US.
• Becoming Employee OwnedminorStrategic or Co-development PartnerOrganization focused on helping businesses transition to employee ownership through cooperative structures.
• BALLE (Business Alliance for a Local Living Economy)minorStrategic or Co-development PartnerNetwork of businesses committed to building a local living economy.
• New Era Windows CooperativeflagshipStrategic or Co-development PartnerWorker-owned cooperative formed through TWW-supported employee buyout. Brendan Martin serves as key technical support to the cooperative.
• Brooklyn Stone & Tile CooperativeflagshipStrategic or Co-development PartnerWorker-owned stone and tile company; Brendan Martin serves on the board of this cooperative.
• California Harvesters Farmworker CooperativeflagshipStrategic or Co-development PartnerFarmworker cooperative; Brendan Martin serves on the board.
• New Economy ProjectminorStrategic or Co-development PartnerOrganization working to build a just economy; Brendan Martin serves on the board.

Scale indicators7 records

Recent moves9 records

Expansion highlights6 records

Broad incumbents

• Capital Impact Partners: CDFI providing financing for cooperatives, social enterprises, and community development real estate; comparable in deploying mission-driven capital to underserved communities.
• Opportunity Finance Network: National CDFI membership network and intermediary; broader membership organization of CDFIs with similar community development finance mission though not a direct lender.
• Kiva: Large nonprofit microlending platform providing zero-interest crowdfunded loans to underserved entrepreneurs globally; shares democratized-credit mission but operates at much larger scale than TWW's cooperative focus.
• Calvert Impact Capital: Mission-driven investor supporting CDFIs and social enterprises through community investment notes; broader thematic mandate that includes cooperative and community development lending similar to TWW.

Emerging players

• Seed Commons: National network of locally-rooted non-extractive loan funds of which The Working World is a founding member; closest peer by exact methodology (cash-flow underwriting, no collateral) and provides the shared infrastructure across the US.

Direct peers

• Cooperative Fund of New England: CDFI loan fund serving cooperative enterprises in New England; directly comparable cooperative-development lender using community-sourced capital for overlapping borrower types.
• Shared Capital Cooperative: National CDFI loan fund specifically serving cooperatively owned businesses with lending and technical assistance; directly comparable in providing community-sourced capital to worker and consumer cooperatives.
• RSF Social Finance: CDFI providing patient, non-extractive capital to social enterprises and food systems with comparable values-aligned lending approach, though broader in sector focus than TWW.
• Project Equity: Nonprofit focused on converting businesses to employee ownership through technical assistance and financing support; direct overlap with TWW's Sell Your Company / conversion program offerings.

Others

• Democracy at Work Institute: Nonprofit research and education center supporting worker cooperative development; closely aligned mission but focused on training and convening rather than direct lending, complementing TWW's loan products.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/workingworldorg
• Facebookfacebook.com/theworkingworld

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds3 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about The Working World