What Shared Capital Cooperative does

Shared Capital Cooperative is a national Community Development Financial Institution (CDFI) founded in 1978 in Minneapolis-St. Paul, Minnesota, that provides loans and investment products to cooperative businesses and housing cooperatives across the United States. As of 2025 the organization serves 330 cooperative members in 35 states and the District of Columbia, has financed more than 1,000 cooperative projects totaling over $80 million cumulatively, and operates with a $24.7 million fund that has doubled in size since 2019. Annual lending volume reached a record $11 million in 2023. The organization is cooperatively owned and governed by its members, with borrowers required to purchase membership equity before accessing capital.

The core product is a cooperative-friendly loan ranging from $5,000 to $1,000,000 over one-to-ten-year terms, underwritten on a cash-flow basis without personal guarantees — a methodology that addresses the structural conflict between personal guarantee requirements and democratic ownership. Specialized programs layer on top of the core loan book: the Worker Ownership Loan Fund (WOLF, launched 2007 with the US Federation of Worker Cooperatives) finances worker co-op conversions; Sustainable Food Systems Financing supports food co-ops; the Kagawa Fund serves student housing co-ops; and the Heirs' Property Relending Program (HPRP), launched in 2022 with USDA, addresses Black land loss in the South. The investment side offers preferred stock with a 5% target return and fixed-term notes (3-4%) accessible to both accredited and non-accredited investors through a 2021 SEC-qualified Direct Public Offering on the SVX platform, with a $500 minimum.

Revenue is generated primarily through interest income on the loan portfolio, supplemented by returns on deployed investor capital, membership equity purchases ($100-$10,000 by tier), and patronage dividends returned to member-borrowers. The customer base is fragmented across worker, consumer, producer, and housing cooperatives, with a deliberate focus on cooperatives owned by people of color, low-income communities, women, and LGBTQ individuals (88% of 2025 lending). Distribution is conducted through federation partnerships (USFWC, Federation of Southern Cooperatives, NASCO, Project Equity), direct lending officers, an online application portal (CommonGoals), and a small in-house team of approximately 10 staff.

Name

Shared Capital Cooperative

Legal name

Shared Capital Cooperative

Website

https://sharedcapital.coop

Company type

Private

Founded year

1978

Operating status

Operating

Headcount range

1–10 employees

Short description

Shared Capital Cooperative is a national CDFI founded in 1978 that provides cooperative-friendly loans of $5,000 to $1,000,000 to worker, consumer, producer, and housing cooperatives across 35 US states, using cash-flow underwriting without personal guarantees. The member-governed fund, with $24.7M in capital and 330 cooperative members, also offers investment products and runs specialized programs for worker ownership, food systems, student housing, and Black land retention.

Ownership category

akta.pro rank

Product category

Community Development Financial Institution (CDFI) Lending

NAICS

Depository Credit Intermediation (5221), Credit Unions (522130)

SIC

Federal & Federally-Sponsored Credit Agencies (6111), Functions Related To Depository Banking, Nec (6099)

akta.pro primary industry

Cooperative Banks (Member-Owned Commercial/Retail) (FSABAEAF)

akta.pro secondary industry

Federations/Centrals & Cooperative Banking Networks (2nd-Tier Co-ops) (FSABAEAL)

Keywords

• Cooperative lending
• CDFI loan fund
• Cooperative financing
• Community development lending
• Impact investment

Headquarters

HQ city

Saint Paul

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Loan interest income: Shared Capital provides loans of $5,000 to $1,000,000 to cooperatives for 1-10 years. Revenue generated through interest on loans made to cooperative businesses and housing cooperatives. Interest rates and terms vary by loan product.
2. Investment returns: Offers preferred stock with target 5% return and investment notes with fixed terms (5-year at 3%, 7-year at 3.4%, 10-year at 4%). Revenue derived from deployment of investor capital into cooperative loans.
3. Membership equity: Revenue from one-time purchase of equity shares for membership. Cooperative business membership based on asset size ($150-$10,000), housing cooperative membership based on units ($25-$50 per unit). Individual membership at $100.
4. Patronage dividends: As a cooperative, returns profits to member-borrowers through patronage dividends (rebates on interest paid). Largest patronage dividend was $40,000+ in 2022.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels8 records

Core offering

Shared Capital Cooperative is a cooperatively owned CDFI loan fund that provides loans of $5,000 to $1,000,000 (terms of 1-10 years) to cooperative businesses and housing cooperatives across the United States. Its core offering uses cash-flow-based underwriting that eliminates personal guarantee requirements, directly serving worker, consumer, producer, and housing cooperatives along with cooperative associations. The fund also raises capital through Preferred Stock and Investment Notes offered to individual investors via SEC-qualified Direct Public Offering.

Product overview

Shared Capital Cooperative is a Community Development Financial Institution (CDFI) offering a comprehensive suite of cooperative financing products. The core offerings include Business Loans ($5,000-$1,000,000 for 1-10 years) and Housing Loans for multi-family and affordable housing cooperatives. Specialized programs include the Worker Ownership Loan Fund (WOLF) for worker cooperatives, Sustainable Food Systems Financing (SF2) for food co-ops, the Kagawa Fund for student housing, and the Heirs' Property Relending Program for Black landowners. Investment products include Preferred Stock (target 5% return) and Investment Notes (3-4% fixed rates, $500 minimum). Membership is available to cooperatives and individuals with voting rights and borrowing/investing privileges. The organization is cooperatively owned and managed by its members.

Differentiator

Problem solved

Functional benefit

Brands

• Heirs' Property Relending Program (HPRP): USDA-approved intermediary lender program to provide loans for resolving heir property ownership issues for Black farmers and landowners in the South
• Worker Ownership Loan Fund (WOLF)
• Sustainable Food Systems Financing (SF2)
• Kagawa Fund for Student Housing

Products and services

• Cooperative Business Loans Loans ranging from $5,000 to $1,000,000 for one to ten years, supporting cooperative business expansions, relocations, leasehold improvements, equipment, inventory, working capital, real estate acquisition, startups, and conversions to cooperative ownership. Available to US-based cooperatively owned small businesses and microenterprises.
• Housing Cooperative Loans Financing for real estate purchase/mortgage, refinancing, and rehab/repairs/improvements for cooperatively owned multi-family and affordable housing cooperatives. Loans from $5,000 to $1,000,000 for 1-10 years.
• Worker Ownership Loan Fund (WOLF) A specialized lending program created in collaboration with the US Federation of Worker Cooperatives, providing financing to worker-owned cooperatives to create democratic jobs, especially in low-income communities. Covers start-ups, expansions, relocations, leasehold improvements, and working capital.
• Sustainable Food Systems Financing (SF2) Program supporting sustainable food systems and access to healthy foods by providing financing to cooperatives in the production, retail sales, wholesale, distribution, and marketing of sustainably produced food, including small farmer and grocery co-ops.
• Kagawa Fund for Student Housing Financing administered by Shared Capital for NASCO Development Services, providing loans to democratically controlled, affordable cooperative housing in campus communities.
• Heirs' Property Relending Program (HPRP) USDA-approved intermediary lending program in collaboration with the Federation of Southern Cooperatives, supporting Black farmers and landowners in the South to resolve title and ownership issues, prevent land loss, and complete succession planning. Available in Alabama, Georgia, Louisiana, Florida, Mississippi, and South Carolina.
• Preferred Stock Investment option with a target 5% return and target hold period of 5+ years, available to both accredited and non-accredited investors through the Direct Public Offering.
• Investment Notes Fixed-term investment notes with options including 5-year term at 3% interest, 7-year term at 3.4% interest, and 10-year term at 4% interest. Minimum investment of $500.
• Cooperative Membership Membership program with voting rights, eligible to borrow and invest. Cooperative businesses join based on asset size with equity ranging from $150 to $10,000; housing cooperatives join based on units at $50/unit ($25 for low-income); individuals join at $100 equity.

Quantifiable outcome

• Fund doubled in size since 2019, reaching $24.7 million in 2025
• +4 more outcomes

Named customers30 records

Segments6 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

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

• Federation of Southern Cooperatives/Land Assistance FundcoreStrategic or Co-development Partner · 18 August 2022Collaboration on Heirs' Property Relending Program (HPRP). Federation provides technical assistance, financial literacy training, and heir property landowner assessment to borrowers. Shared Capital serves as intermediary lender approved by USDA. The partnership supports Black farmers and landowners in the South to resolve title and ownership issues and prevent further Black land loss. Federation represents 20,000 families through 75 cooperatives.
• US Federation of Worker CooperativescoreStrategic or Co-development Partner · 1 January 2007Collaboration created the Worker Ownership Loan Fund (WOLF) in 2007. WOLF provides financing to worker-owned cooperatives to create democratic jobs, especially in low-income communities. USFWC is the national apex organization for worker cooperatives.
• NASCO Development ServicescoreStrategic or Co-development PartnerShared Capital administers the Kagawa Fund for NASCO Development Services. The fund provides financing to democratically controlled, affordable cooperative housing in campus communities.
• Cooperative Development Fund of CDSminorOthersFiscal sponsor for tax-deductible donations. Donations made directly to Shared Capital are not tax deductible, but 100% tax-deductible gifts can be made through the fiscal sponsor.
• Project EquityflagshipStrategic or Co-development PartnerPartnership in Accelerate Employee Ownership initiative launched in 2019. Jointly financing business conversions to worker cooperative ownership. Deals include Maximum Fun ($1.5M), Gimme! Coffee ($690K), and other conversions. Project Equity identifies businesses for conversion; Shared Capital provides financing.
• Neighboring Food Co-op AssociationcoreStrategic or Co-development PartnerPartnership announced February 2022 to increase access to capital for food co-ops. Joint initiative to support food cooperative development and expansion.
• SVX (SVXus.org)coreTechnology or IntegrationOnline investment platform provider for Shared Capital's Direct Public Offering. Enables both accredited and non-accredited investors to invest starting at $500. Handles account creation, subscription agreements, and fund transfers.
• Brooklyn Cooperative Federal Credit UnionminorStrategic or Co-development PartnerPartner organization that launched a similar worker cooperative loan product. While Shared Capital itself is not the lender in this case, both organizations address the same market need for cooperative-friendly financing without personal guarantee requirements.

Scale indicators19 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• Cooperative Fund of New England: Cooperative Fund of New England is a CDFI community loan fund that finances cooperative businesses and housing in the Northeast, with similar member-owned structure, cash-flow based underwriting, and direct loan products to cooperatives.
• Kiva: Kiva is a nonprofit microlending platform that crowdfunds 0% interest loans to underserved borrowers and small businesses, including cooperatives. Comparable as a mission-driven lending platform serving borrowers excluded from conventional credit, though operating at vastly larger scale via a crowdfunding model.
• RSF Social Finance: RSF Social Finance is a nonprofit financial services organization providing loans, grants, and investments to social enterprises including food systems and community-owned enterprises. Comparable as a values-aligned, non-depository impact lender with a direct public offering and a focus on regenerative economy.
• National Cooperative Bank: National Cooperative Bank is a cooperatively owned bank providing banking and lending services to cooperatives nationwide. Directly comparable to Shared Capital as another member-owned financial institution serving the cooperative economy with similar loan products and member governance.
• Akiptan: Akiptan is a Native American agricultural CDFI loan fund and one of only three nationwide USDA HPRP intermediary lenders alongside Shared Capital. Directly comparable as a mission-driven CDFI with federal program relationships serving an underserved producer population.

Broad incumbents

• Capital Impact Partners: Capital Impact Partners is one of the largest US CDFIs, providing loans and investments across cooperative, community development, healthcare, and education sectors. Comparable as a federally certified CDFI serving cooperatives but with broader sector mandate and significantly larger scale.
• Self-Help Federal Credit Union: Self-Help Federal Credit Union is a CDFI credit union serving underserved communities across multiple states with mission-aligned lending. Comparable as a CDFI with focus on serving low-income communities, though broader in scope than Shared Capital's cooperative-only mandate.
• Calvert Impact Capital: Calvert Impact Capital is a leading impact-focused Community Development Financial Institution raising capital from retail and institutional investors and deploying into community lending. Comparable as a CDFI issuing notes/impact investments, though operating at much larger scale and broader scope.
• Beneficial State Bank: Beneficial State Bank is a CDFI-certified B-Corp bank serving low-income communities, nonprofits, and mission-driven enterprises. Comparable as a CDFI bank with impact mandate, though broader product offering and significantly larger asset base.

Others

• Opportunity Finance Network: Opportunity Finance Network is the national membership association for CDFIs, providing capital, policy advocacy, and infrastructure support to over 400 member CDFIs including Shared Capital. Relevant as the industry body and ecosystem enabler for Shared Capital's CDFI operations.

Market position

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/Shared_Capital
• YouTubeyoutube.com/@sharedcapitalcooperative8383
• Facebookfacebook.com/SharedCapitalCooperative
• LinkedInlinkedin.com/company/shared-capital-cooperative
• Instagraminstagram.com/shared_capital_cooperative

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Funding overview

Funding rounds

Investors

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 Shared Capital Cooperative