Detroit Community Wealth Fund

Our Mission

DCWF exists to empower historically marginalized Detroiters, blending education and programming about cooperatives, with non-extractive loans to support democratic and community-based businesses in Detroit.  

About DCWF

Detroit Community Wealth Fund (DCWF) was established in 2017 as a member of the Seed Commons national financial cooperative network. DCWF serves Black, Indigenous, and people of color (BIPOC) in the City of Detroit that has been historically excluded from partaking in and benefiting from the economic system. Support is given to co-op entrepreneurs through educational programming focusing on cultivating a successful cooperative business, technical support, and providing them with non-extractive loans to help finance the expansion or launch of their cooperative.

DCWF has provided a loan total of $100,000 to worker-owners, trained over 100 cooperative entrepreneurs through 10-week Co-op Academies and additional workshops, provided technical assistance to over 20 organizations through independent consultations.

Programs 

Cooperative Incubator- an intensive 3-month program that focuses on assisting worker-owners to cultivate a democratically run organizational structure and mission development. 

Non-Extractive Financing- Becoming a worker-owner does not have to be scary or feel daunting. DCWF loan recipients receive continuous support through loan coaching, office hours, and workshops. Unlike traditional loans, our non-extractive loans do not have a compounding interest rate to avoid worker-owners acquiring more debt and less capital. We eliminate common barriers faced with traditional financial institutions such as banks and credit unions by eradicating credit checks, personal guarantees, and asset collateral.

Workshops- Since 2017, Detroit Community Wealth Fund (DCWF) has hosted a plethora of workshops reaching over 300 people prior to the pandemic. DCWF created the Worker-Owned Cooperative Workshop Series, a series of 15 workshops focused on economic democracy, increasing worker-ownership knowledge, and the benefits of supporting Black-owned cooperatives. 

Worker-Owned Detroit- The Worker-Owned Detroit program has four focus areas: expanding the cooperative network in Detroit, increasing cooperative knowledge amongst business owners, creating custom conversion plans for businesses, and providing ongoing technical assistance and financial support. The Cooperative Conversions program provides a comprehensive support system by utilizing a pipeline approach. Businesses are evaluated during the intake process and receive loan preparation and coaching resources.

Co-ops we're supporting