Socoden is a financial institution whose sole purpose is to finance the creation and development of SCOP (cooperative and participative compagnies own by the workers) and SCIC (cooperative compagnies of collective interest) via participative loans, either through partners whose activity is to finance SCOP and SCIC.
Socoden is a subsidairies of General Confederation of SCOP (CGSCOP).
Socoden only finances scop or scic cooperative members of CGSCOP.
The 4 main investment selection criteria are:
• The cooperative market
• The organization of the cooperative
• The management of the cooperative
• The cooperative specificities, and at least the following criteria:
o The mode of access to membership,
o The exercise of democracy,
o Distribution of results.
Socoden’s financial interventions are decided by committees which are entirely made up of cooperatives managers (corporate officers or financial managers).
The modes of intervention of Socoden or its subsidiaries are:
• The participative loan,
• Equity (shares with no voting rights and no attendance at general meetings,)
• Guarantee of bank loans.
Socoden and its subsidiaries NEVER ask for personal guarantees on the property of the managers of SCOP and SCIC.
Socoden has no activity of transferring shares.
Our main partners are CREDIT COOPERATIF and FRANCE ACTIVE.
Socoden and its 2 subsidiaries manage 1,000 investment lines:
15M€ of participative loan, 9M€ in equity and a guarantee amount for 50M€ of loans.
Socoden has no employees, it is managed by the financial tools department of the CGSCOP which has 3 employees.
Socoden has 340 customers but with the 2 subsidiaries there is more than 1000 customers.
The main share holder is CGSCOP at more than 99%. But there is 1178 shareholders. Socoden is a cooperative.
The total balance sheet is 40M€.