Co-op Week is always a special time to reflect on the collective power of co-operatives and the impact they have on communities across Newfoundland and Labrador. This year, The Newfoundland and Labrador Federation of Co-operatives (NLFC) has even more reason to celebrate—we are thrilled to announce the launch of a revitalized Co-operative Development Fund (CDF), also known simply as The Fund.
This fund is designed to support co-operatives at every stage of their journey—whether just starting out, or ready to take operations to the next level.
What The Fund Offers
The Fund provides two types of loans tailored to meet the diverse needs of co-operatives:
- The Microloan – Up to $5,000 for smaller-scale projects like feasibility studies, business plans, start-up costs, or basic equipment.
- The Development Loan – Up to $30,000 for larger investments such as major equipment purchases, warehouse rentals, or marketing campaigns.
With favourable lending rates and generous repayment terms, The Fund makes it possible for co-operatives to grow without the challenge of restrictive financing.
Why It Matters
As NLFC President, Lloyd Hayden, explains, “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.”
The revolving nature of the fund is what makes it so powerful. When one co-operative repays its loan, those funds cycle back to help another co-op. In this way, The Fund strengthens not just one organization, but the entire co-operative ecosystem in our province.
NLFC Managing Director, Dave Walsh, echoed this excitement: “Revitalizing this fund has been long in coming. While we have successfully lent to co-ops in recent years, we are excited to now offer a full-scale loan fund to either fill a funding gap or provide leverage for co-ops to secure larger opportunities through government or financial institutions.”
Building on a Strong Legacy
For more than 75 years, NLFC has been a proud advocate and supporter of the co-operative and credit union movement in Newfoundland and Labrador. The Co-operative Development Fund is the latest tool in our ongoing effort to promote growth, resilience, and innovation in the sector.
This Co-op Week, we invite co-operatives across the province to explore how the Fund can help turn vision into reality. Together, we are building stronger communities, one co-op at a time.
For more information, please see https://nlfc.coop/fund or contact us at info@nlfc.coop
