PROVIDING FINANCIAL ASSISTANCE

Loans and loan guarantees: 1983

Following a positive feasibility study, the Office can advance funds for loans and loan guarantees to employee ownership groups to purchase land, buildings, machinery, equipment, and working capital. Applications are evaluated on the basis of jobs retained, ability to repay, prior financial commitment, and evidence of need and percentage of the local workforce employed by the firm. (§5B-5(4) through §5B-5(7)) Repealed

Wisconsin

INCREASING AWARENESS

Policy Declaration: 1983

The Department of Development shall cooperate with the University of Wisconsin Small Business development Center, the University Center for Cooperatives, the board of vocational, technical, and adult education, the university of Wisconsin extension, the Community Development Finance Authority and the Council on Economic Adjustment in collecting and disseminating information regarding employee ownership and promote the appropriate establishment of such businesses. (W.S.A. 560.07)

Interdepartmental awareness: 1983

The Council on Economic Adjustment must report annually including an evaluation of employee-owned businesses. (W.S.A. 15.157(5))

FACILITATING EMPLOYEE OWNERSHIP

Method of notification: 1983

The Council on Economic Adjustment shall develop a method of identifying businesses subject to a change of ownership or closing, and create a system of informing owners and employees about employee ownership. (W.S.A. 15.157(5))

Legal recognition of employee cooperatives: 1985

(W.S.A. 185.01-185.985)

PROVIDING TECHNICAL ASSISTANCE

Provide actual assistance: 1983

The council of Economic Adjustment shall coordinate technical, educational and financial assistance to those interested in employee ownership. The council shall also facilitate state agency initiatives in providing assistance. (W.S.A. 15.157(5))

The University of Wisconsin in cooperation with all agencies mentioned above and the board of education shall create educational programs to provide management training and technical assistance in management, business operations and governmental relations. (W.S.A. 36.25)

Provide funding for technical assistance: 1985

The department may administer loans to existing businesses for a feasibility study. If the business is not purchased the group shall submit a final report on the feasibility of repaying the loan. (W.S.A. 560.16)

PROVIDING FINANCIAL ASSISTANCE

Loans through local community development corporation: 1983

The Community Development Finance Authority is to stimulate investment in blighted and impoverished areas and encourage employee ownership. (W.S.A. 233.01)

Date: 2015-01-11; view: 998