SENATE BILL: Cooperative Development Act of 2014 (Law'd)

[Southern Senator North Carolina Yankee]

I wish there was someway to connect the relevant clause of this to thr relevant clause in the Put People to Work bill.

You could set an amount in that and then in this say 35% or 40% will go to Co-ops established in the Cooperative Developement Act or vice versa, say 35% or 40% of the funds appropriated in Put People to Work section whatever shall go to Cooperated.

[🐒Gods of Prosperity🔱🐲💸]

The problem is we don't know how many people will be trying to establish co-ops and what the quality of the loan requests will be.  I don't want us to get into a situation where big loans are being put out for things that have little chance of success just because we have the money set aside for it.

[TNF]

The problem is we don't know how many people will be trying to establish co-ops and what the quality of the loan requests will be.  I don't want us to get into a situation where big loans are being put out for things that have little chance of success just because we have the money set aside for it.

Of course, setting aside money for them makes them more likely to succeed.

[Southern Senator North Carolina Yankee]

The problem is we don't know how many people will be trying to establish co-ops and what the quality of the loan requests will be.  I don't want us to get into a situation where big loans are being put out for things that have little chance of success just because we have the money set aside for it.

Is there a set of standards that you would approve of? How are the loans in the "Put People to Work" bill going to be handled. We are directing them through the SBA, no? What standards are they using for them? Could we use those same ones here?

[🐒Gods of Prosperity🔱🐲💸]

The problem is we don't know how many people will be trying to establish co-ops and what the quality of the loan requests will be.  I don't want us to get into a situation where big loans are being put out for things that have little chance of success just because we have the money set aside for it.

Is there a set of standards that you would approve of? How are the loans in the "Put People to Work" bill going to be handled. We are directing them through the SBA, no? What standards are they using for them? Could we use those same ones here?

I don't really know, it's something I've been wondering. With the version of that bill that had $50 billion I was worried about the same thing. I still am somewhat, but when cash available for loans is smaller in comparison to demand I think we can generally expect the lender to be more selective.

[Southern Senator North Carolina Yankee]

We could formulate a set of standards then. They don't have be complex, just simple things like they must have an organized business plan, a competative model, a realistic outlook etc etc.

Or set some basic goals and have the appropriate DoIA agency fill in the blanks.

[🐒Gods of Prosperity🔱🐲💸]

We could formulate a set of standards then. They don't have be complex, just simple things like they must have an organized business plan, a competative model, a realistic outlook etc etc.

Or set some basic goals and have the appropriate DoIA agency fill in the blanks.

That sounds like a good idea if we can figure it out.

[Southern Senator North Carolina Yankee]

We can do anything we want to, shua. Just have to want it badly enough.

[Cincinnatus]

What are we doing here Gentleman?

[🐒Gods of Prosperity🔱🐲💸]

We can do anything we want to, shua. Just have to want it badly enough.

I don't have a clear sense of direction on this really.  Do I want it badly enough?  I'm not sure.

[Southern Senator North Carolina Yankee]

Just start throwing some stuff down on the page shua.

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[H.E. VOLODYMYR ZELENKSYY]

Do we force traditional businesses to submit business plans and turn a profit? I don't see why we're unduly burdening cooperatives here.

[🐒Gods of Prosperity🔱🐲💸]

Do we force traditional businesses to submit business plans and turn a profit? I don't see why we're unduly burdening cooperatives here.

I don't see why we need a separate program for cooperatives in the first place.

But yes, whatever we do here, I think we should make it apply to other business loans as well. 

Just start throwing some stuff down on the page shua.

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would a co-op or business really be able to demonstrate that revenue will exceed expenses by a certain date?  any business plan is going to have some risk in it. 

maybe we should do this by trying to set some general goals for the program.  Like, what is this program supposed to provide that would not be offered by private banking loans?

[Southern Senator North Carolina Yankee]

Do we force traditional businesses to submit business plans and turn a profit? I don't see why we're unduly burdening cooperatives here.

Non-profit entities have to meet expenses with revenues. The only difference is that there is not a line item for profit, so all revenues go into the entity in some fashion. The organizational structure is largely the same as far as I know and there is aways, always, always a plan, man.

[Southern Senator North Carolina Yankee]

Do we force traditional businesses to submit business plans and turn a profit? I don't see why we're unduly burdening cooperatives here.

I don't see why we need a separate program for cooperatives in the first place.

But yes, whatever we do here, I think we should make it apply to other business loans as well. 

Just start throwing some stuff down on the page shua.

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would a co-op or business really be able to demonstrate that revenue will exceed expenses by a certain date?  any business plan is going to have some risk in it. 

maybe we should do this by trying to set some general goals for the program.  Like, what is this program supposed to provide that would not be offered by private banking loans?

Hey, read the previous post man. I was just throwing some stuff down on the page to get started somewhere.

[Southern Senator North Carolina Yankee]

I am pretty sure in real life the SBA requires a business plan and yes there usually projections as to when the break even point is. Do you really think they would give loans to people without some clue as to when they can expect them to be solvent and paying them back? Of course not.

[TNF]

Is that an amendment Yankee?

[Southern Senator North Carolina Yankee]

More of a discussion piece at this point. I do have an other one in line with what Cincy previously mentioned a few days ago, if we need to skip this administration issue and come back to it afterwards.

[H.E. VOLODYMYR ZELENKSYY]

Couldn't we just say "cooperatives will be treated exactly like businesses" with a few required changes (i.e. all this executive compensation stuff wouldn't really apply)?

[🐒Gods of Prosperity🔱🐲💸]

Couldn't we just say "cooperatives will be treated exactly like businesses" with a few required changes (i.e. all this executive compensation stuff wouldn't really apply)?

not if we haven't establish loan practices as they apply to businesses.

[🐒Gods of Prosperity🔱🐲💸]

what do you think of this?

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[TNF]

I think that looks good shua.

[Fmr. Pres. Duke]

Excellent. Welcome back, SBA!

[Southern Senator North Carolina Yankee]

Yes that looks quite nice.


Go ahead and offer that and we can proceed with my amendment afterwards.

[🐒Gods of Prosperity🔱🐲💸]

I formally introduce the above amendment.