The cooperative Esperanza del Plata is a recovered factory re-opened by its workers after being suddenly closed on Oct. 31 of 2008. 7 of the original 30 or so workers remained, and together they began to organize to run the plant. They have thus far enjoyed the advantage of an almost-intact client list and a sustained level of demand, but this has in part gone to waste as they have not had the necessary raw materials or capital to fulfill all incoming orders. As such, the growth of the cooperative has been slow and difficult, with investments in raw materials|| coming at the direct expense of the workers taking money home.
La Base has been working with Esperanza del Plata for the last year, helping to provide them with the capital needed to buy raw materials to produce. During this time we have seen a large improvement in the quality and sustainability of the business. This loan is identical to various that were made in 2009. It is short and small, intended to inject enough short-term capital into the cooperative to complete several pending orders and improve the overall liquidity of the business.|