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Work to Own: A co-op loan

Because we believe co-operative principles and practices will help us redefine wealth.

Worker co-operatives provide employment and contribute to the economic and social health of our communities. They rely on their member’s capital share to help finance their operations, and the Work to Own microloan is designed to help new members of worker co-operatives contribute their full membership share and put their equity to work as soon as possible.

Are you eligible?

All you need to apply for a Work to Own microloan is:

  • To not qualify for conventional financing
  • Confirmation of an offer of membership from a worker’s co-op

Key benefits

  • Qualify for a loan even without a strong credit history
  • Receive funds as a line of credit* and/or a term loan** – your choice
  • Pay no administrative fees***
  • Gain access to Vancity’s business expertise and financial-literacy support
  • Benefit from access to a co-operative network of members
  • Get additional support if you’re an entrepreneur with a disability

Loan details

  • Loan size: Apply for up to $10,000
  • Loan type: Choose a term loan or a line of credit, with flexible repayment options
  • Interest charged: Pay prime plus 2%
  • Repayment period: Repay the loan within 7 years

Use this microloan for:

  • Becoming a fully paid member of your worker’s co-op
  • Announcing your commitment to your new co-operative
  • Putting the full amount of your member capital into the hands of the co-op, eliminating the need for payroll reductions or deferred dividend payments
  • Reducing the financial burden on other co-op members
  • Putting the co-operative on a stronger footing – with it’s full share of equity capital in hand, the co-op will be in a good position if it needs additional financing

If you have questions about the Work to Own microloan, please email

*A term loan is repaid over a specific period of time by making payments on both the principal and interest.

**A line of credit (also known as an operating loan) requires the loan-holder to repay only the interest on the outstanding loan balance each month.

***Administrative fees are waived under the microloan program for all term loans and for the first five years on your line of credit.