Recorded an interesting conversation tonight w/ Tiffany Lascado, the founder of the #Lei Company #Coop, which is a #WorkerCoop of mostly #Pacifica women raising investment to expand into the school graduation market in #California.
Our chat, in which we discuss the co-op's origins, lei-making, and their hopes for the future can be viewed here: https://youtu.be/wiUwuVjE0Es
If you want to chip in, minimum investment is $250, and can be done here (I'm in for $500): https://crowdfundmainstreet.com/campaigns/mdfxl1gl #coops
@mattcropp Perhaps I shouldn't even get involved if I can't answer this myself after looking through the documents, but since this isn't just a donation, does my money earn dividends over time, or gain interest, or some other thing? Perhaps this is essentially just a zero-interest loan? And how long do they hold on to investments until the investors can get their money back? I see there are rewards for different levels of commitment, but that's all I could find really.
@amikigu The terms are in the offering document; the vehicle is non-voting preferred shares that have a target dividend of 5% per year that is to be paid prior to any patronage refund to worker owners. So, if there is profit, the investors get the first slice up to that 5% limit.
After 5 years, investors can ask for the co-op to buy back the shares at face value, which the board can do at its discretion if the co-op in in the financial position to do so.
@mattcropp Thanks for explaining all that to an investor-newbie!
social.coop is a a coop-run corner of the fediverse, a cooperative and transparent approach to operating a social platform. We are currently closed to new memberships while we improve our internal processes and policies, and plan to re-open to new folks when that work is complete. [9/2/2018]