---
title: NCB Testifies at The House Small Business Committee Hearing to Discuss the Benefits and Challenges of the Employee Ownership Model
description: The House Small Business Committee convened a hearing to discuss the benefits and challenges of the employee ownership model.
---

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# [NCB Testifies at The House Small Business Committee Hearing to Discuss the Benefits and Challenges of the Employee Ownership Model](https://www.ncb.coop/press-releases/house-small-business-committee-convene-hearing-to-discuss-the-benefits-and-challenges-of-the-employee-ownership-model)

 Written by [National Cooperative Bank](https://www.ncb.coop/press-releases/author/national-cooperative-bank) | Feb 13, 2020 6:41:44 PM

Arlington, VA (February 13, 2020)  On February 12, 2020, The House Small Business Committee convened a hearing to discuss the benefits and challenges of the employee ownership model. Members in  attendance included Reps. Velázquez (D-NY-7), Chabot (R-OH-1), Balderson (D-OH-12), Kim (D-NJ-3), Golden (D-ME-2), Davids (D-KS-3), Finkenhauer (D-IA-1), Craig (D-MN-2), Delgado (D-NY-19), Bishop (R-NC-9), Spano (R-FL-15), Burchett (R-TN-2), and Stauber (R-MN-8) .

Witnesses for the hearing included:

- Daniel Goldstein, President and CEO of Folience an employee owned company in Cedar Rapids, Iowa,
- L. Condra, Vice President of Advocacy and Government Programs, National Cooperative Bank located in Arlington, VA,
- John Abrams, CEO and Co-owner, South Mountain Company, a worker-owned cooperative in Martha’s Vineyard, MA
- Mark Gillming, Senior Vice President, Messer Construction Company, an employee owned company headquartered in Cincinnati, Ohio.

The hearing explored the challenges businesses face in converting to a co-op or an employee-owned company through an Employee Stock Ownership Plan (ESOP), as well as ways current federal programs can be optimized to minimize those challenges.

“For decades the co-op sector has asked the Small Business Administration to level the playing field.  Instead they proposed new hurdles for retiring business owners to convert their business to a cooperative.”   
*R.L. Condra, National Cooperative Bank*

Highlights included:

- Rep. Velázquez expressed her commitment to ensure that the Small Business Administration finds a solution to the personal guarantee requirement that is a barrier for cooperatives;
- Additionally, Rep. Velázquez  is meeting with a roundtable of Small Business Development Centers, and will speak with them about promoting the cooperative ownership structure;
- Likewise, Rep. Golden is interested in spreading education and outreach about employee ownership;
- Rep. Balderson probed for information about how the Small Business Committee can address healthcare needs for workers; and
- Rep. Stauber praised small business owners like the panelists for their innovative, common-sense solutions

To view the hearing, please visit:  [https://youtu.be/Zp_Rn4c31As](https://youtu.be/Zp_Rn4c31As)

[View full post](https://www.ncb.coop/press-releases/house-small-business-committee-convene-hearing-to-discuss-the-benefits-and-challenges-of-the-employee-ownership-model)

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