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.
This loan involves cash credit line so that the cooperative can cash the postdated checks and increase their cooperative salaries ("retiros"). This is very important for the cooperative since they have a receive a lot of postdated checks and are in week financial position. |