New Listing on CuttingEdgeX: Urban Greens Co-op
A consumer-owned cooperative, Urban Greens is working to open a retail grocery store in Providence, RI. The store will be open to all and will support the health and well-being of its customers by offering nutritious, affordable food that is sustainably sourced, culturally inclusive and supportive of local food production. The co-op will be the anchor commercial tenant in a mixed use development that includes 39 residential units – 8 of which will be “low-income” housing and 31 of which will be for “workforce” housing. Urban Greens will be the sole commercial tenant, occupying 8000 sq. ft. of ground-floor retail space in one of the two buildings.
The offering is open to Rhode Island residents.
Main Street Launch Announces 506(c) Offering
Main Street Launch is a 37 year-old nonprofit and Community Development Financial Institution (CDFI) with the mission to create economic opportunity by empowering entrepreneurs. Through innovative partnerships they provide business owners with the capital, education, and relationships that allow them to flourish. Their collaborative approach helps their borrowers create jobs and stimulates economic development in low-to-moderate income communities.
The capital raised through this impact investing note will be used directly as loan capital to small business clients in their three program areas: Oakland businesses, San Francisco businesses, and Veteran-owned businesses in California (investors may designate their capital for a particular program). The majority of these businesses are women-owned, minority-owned, low-to-moderate-income-owned, and start-up businesses, and these loans help create and sustain hundreds of local jobs and revitalize commercial corridors in low income areas.
To inquire about the offering, email [email protected].
Turn Your Employees into Owners
As part of our mission, Cutting Edge Capital collaborates with visionary and courageous change-makers that go beyond the mainstream to shape a truly resilient economy. Enter our partners at Project Equity, an Oakland, CA nonprofit.
Project Equity envisions a future where business decisions are made through the lens of what is good for employees and communities. They provide targeted training to businesses interested in converting to employee ownership.
There is a groundswell of interest in giving employees equity by converting businesses into cooperatives. From the neighborhood bakery to solar installation companies to landscaping services, there are major business upsides in expanding worker ownership. In addition, Direct Public Offerings can play a crucial role in the workers’ ability to raise the funds needed for a buyout. Cutting Edge Capital’s client, Real Pickles, was able to raise the capital needed to successfully convert in just two months.
If you’re interested in learning more about co-op transitions, check out other case studies and contact Project Equity to learn more.
Know of a business that would make a good candidate for conversion? Share your story >>
Maker’s Common “Founders” Happy Hour on June 9th
The North America Venture Showcase @ SOCAP 2016
Cutting Edge is proud to be partner with SVX Canada and the MaRS Centre for Impact Investing on a submission to SOCAP 2016. SOCAP (Social Capital Markets) traditionally has over 100 sessions as part of the conference, with about 20% of content coming from the open submission process, SOCAP Open. Public votes form 30% of panel selection. We’d love it if you could give us a click of your time to help with the voting process. The voting runs until June 15th. See our joint submission and vote here.