The Worker Co-op Fund, Tenacity Works, is an investment fund whose purpose is to create new and to expand existing worker-owned co-operatives in all regions of Canada. Tenacity Works is owned and operated by the CWCF. As a revolving loan fund, Tenacity Works usually has funds available for making loans. Funds are used to invest in worker, multi-stakeholder and worker-shareholder co-ops across Canada. The main purpose is to allow worker co-operatives to leverage a Tenacity Works loan to obtain additional financing from traditional lenders. To date, Tenacity Works has approved more than 35 loans that have supported over 200 jobs. Loans are available for amounts between $15,000 and $50,000.
All investment decisions will be made by the Fund Investment Committee.This committee includes two CWCF Directors and three other members drawn from the co-op and credit union sectors in Canada. The committee members come with professional expertise in commercial lending, development investing, venture capital, and worker co-op development and management.
The Canadian Worker Co-op Federation gratefully acknowledges the support of Human Resources Development Canada (HRDC) in the establishment of the Worker Co-op Fund.