FOR IMMEDIATE RELEASE – THURSDAY OCTOBER 9th, 2025
Loans To Empower Co-operative Growth in Newfoundland & Labrador
ST. JOHN’S, NL – The Newfoundland and Labrador Federation of Co-operatives (NLFC) is celebrating Co-op Week (Oct 12-18) with exciting news – the launch of The Co-operative Development Fund – The Fund – is for any co-operative in Newfoundland & Labrador looking to grow, expand, or enhance their activities.
There are two types of loans within The Fund. The Microloan is up to $5,000 and could be used for smaller expenses such as feasibility studies, business plans, equipment, or start-up needs. The Development loan is up to $30,000 and could be used for large-scale equipment, rental of warehouse space, or marketing campaign. Both loans have very favourable lending rates and generous payback periods allowing co-operatives to be able to get off the ground.
“The Fund has the ability to not only kick-start a co-op, but also to be a game changer for an existing co-op looking to expand its operations.” NLFC President, Lloyd Hayden.
Not only does The Fund help individual co-operatives, but because it is a revolving fund, its use promotes the co-operative sector in the province. As co-operatives repay their loan, the fund regenerates and becomes available for another co-op to borrow.
NLFC Managing Director, Dave Walsh says, “We are excited to launch the Co-operative Development Fund for co-ops to either fill a funding gap or provide the leverage to access larger funding opportunities offered by the government or financial institutions.”
NLFC has been promoting co-operatives in the province for over 75 years. It is the provincial association representing and supporting the growth of the co-operative and credit union sector of the province.
For more information please see https://nlfc.coop/ or contact us at [email protected].
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Media Contact
Dave Walsh
Managing Director
Newfoundland-Labrador Federation of Co-operatives
(709) 699-1110 | [email protected]