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SOCODEN is the financing arm of the French worker-cooperative (SCOP) movement, created in 1965 and owned almost entirely by the Confederation Generale des SCOP. It provides participatory loans and quasi-equity to worker cooperatives that are starting up, growing, or working through difficulty, and...
Worker cooperatives are owned by their employees, so they cannot raise ordinary outside equity without diluting that ownership. SOCODEN's member-funded quasi-equity lets French cooperatives finance their growth while keeping control in the hands of the workers.
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