Become part of the cooperation and supoort krakelee.
Bei unserer Gründung fallen hohe Kosten an (für Umbau, Anschaffungen, Kaution), die wir über Genossenschaftsanteile, Mitgliederdarlehen und über Crowdfunding finanzieren werden.
On this page, we will explain how you can help finance the project with co-operative shares and member loans and highlight the differences between the two financing methods. If you wish to support us in either of these ways, we will enter into a legally binding agreement, the drafts of which you can see below. We take the content of these agreements very seriously and endeavour to communicate clearly and unambiguously. Of course, we are available to answer any questions you may have.
Option 1 – Buy Shares!
Become part of krakelee: Join the cooperative and buy one or more shares of € 250 each. krakelee eG i. G. shares do not bear interest and have a cancellation period of two years. The cooperative can only honour the cancellation and pay out the shares if it does not get into financial difficulties as a result. It is possible to transfer shares to other persons. A distribution of surpluses is also possible – but these will not be made in the first few years and before the loans are repaid. Basically, you should know that our project aims to support cultural causes and create secure jobs. Distributions to shareholders are therefore not a primary purpose of our cooperative.
Conditions at a Glance
- Amount of a share: 250?
- Number of shares: 1–100
- Duration: unlimited
- Cancellation period: 2 years
- Interest rate: 0%
As a supporting member of krakelee eG i.G. you support the founding of the club financially and ideally. You will receive regular information and can take part in the annual general meeting without active voting rights. Ordinary memberships with active voting rights at the General Assembly are reserved for employees of the club. You can find out more about the cooperative and its structure here.
How do I buy shares?
If you are already sure that you want to become a member and would like to subscribe to one or more shares, you can download the declaration of membership here, fill it in, sign it and send it to us by post. If you have any questions, you can contact us at any time.
Option 2 – Grant a Member Loan!
You can also support us with a so-called qualified subordinated loan (»Qualifizierte Nachrangdarlehen«). This refers to money that krakelee eG i. G. receives directly from its members . In order to grant us a loan, at least one share must first be bought. Qualified subordinated loans are possible from minimum amount of 500€ , can bear interest and, depending on the agreement, can be linked to a fixed duration .
Conditions at a Glance
- Type: Member loans with qualified subordination agreement
- Lender: Members of krakelee eG i. G.
- Minimum amount: 500?
- Interest rate: 0–1% (deviations are subject to negotiation)
- Unscheduled repayment: possible at any time
- Maximum amount: 25.000?
- Duration: flexible
What exactly does »qualified subordinated loan« mean?
A so-called qualified subordinated loan (»Qualifizierte Nachrangdarlehen«) is a special form of loan that can be granted to a cooperative by its members under certain conditions. Subordinated means that in the event of payment difficulties, loans with priority (bank loans) and other liabilities must be honoured first. The term qualified means that the co-operative may only honour claims (repayment and interest), if it does not suffer financial difficulties as a result.
Which risks are involved in this type of loan?
With the qualified subordinated loan, you generally bear a higher risk compared to a bank that may lend us money. In the event of a poor financial situation of krakelee eG i. G., the loan may not be paid out at the end of the term (»qualified«). If the cooperative goes bankrupt, the bank loan has priority in the distribution of the insolvency assets.
On the other hand, co-operatives are regarded as a very safe investment option with a high level of resilience, even in times of crisis. The internal structure, the embedding in regional and social structures, the support from their members themselves and, last but not least, the regular economic review by the auditing association lead to extremely low insolvency rates: less than 1% of all German co-operatives go bankrupt.1
Why can only members grant loans?
krakelee eG can only accept loans from private individuals if they are members of the cooperative. This is a result of the German Banking Act: the acceptance of financial resources (such as loans) is reserved for banks as so-called »deposit business«. The granting of loans of up to €25,000 by members of a co-operative is an exception to this rule.
What is the duration of the loan?
You decide whether the loan should be fixed-term or open-ended. Fixed-term loans end automatically after the agreed period. Open-ended loans have a cancellation period. As we are particularly reliant on planning security at the beginning, all loans have a Minimum duration of 3 years. As a project with solidarity as a core principle, we would like to deviate from this regulation in individual cases, if necessary and if possible. So please contact us if you have any questions!
Does the loan bear interest?
The loan can bear interest. We offer an annual interest rate of 0% — 1%. You determine the exact amount. The lower the interest rate, the quicker and easier it is for us to repay borrowed capital for start-up investments and stand on our own two feet. It is also possible to temporarily waive interest payments, for example while the premises are being renovated and we are not yet able to generate any operating income. Feel free to contact us if you would like to take out a loan but would like different conditions.
What do I gain from giving a loan?
With your support as a lender, you can make a direct contribution to the realisation of the project, which would not be possible without the support of (sponsoring) members. We offer you the certainty that your money will serve a sustainable, democratic and socio-cultural purpose.
Erfahre mehr darüber, warum es sich lohnt, die krakelee eG i. G. zu unterstützen
How do I grant a loan?
Our loans are tied to a specific purpose. This means that we only draw them down when we actually need them. For this purpose, we sign a contractual agreementwhich you can find here soon.
If you decide to give us a loan, you can already provide us with a letter of intent for this future loan. This is not legally binding, but it formulates a clear intention on your part that will enable us to plan better and demonstrate our solvency and support to other lenders such as banks.
We would be delighted to receive a letter of intent from you. You can download it here and then fill it out and send it by e‑mail (firstname.lastname@example.org) or by post. As always, you can contact us at any time if you have any questions!
here you can download the declaration of intent (only in German, sorry):
Frequently Asked Questions
Should I subscribe for shares or take out a loan?
By subscribing to shares, you actively contribute to the formation of capital in line with the cooperative idea. You become a co-owner of the club to the extent of your shares and your money enables the cooperative to operate sustainably. With a loan, on the other hand, you lend money to the cooperative. As already discussed, however, you must also be a supporting member in order to receive a loan, i.e. you must buy at least one share.
In practice, there is little difference between shares and loans: Shares have no fixed duration but a cancellation period of 2 years. You do not receive any interest, but you can participate in profits if the general meeting decides to do so. However, this is not to be expected in the early years, as the borrowed capital taken out to open the company must first be earned and repaid. Loans, on the other hand, can bear interest depending on the agreement, have a term and can be repaid (prematurely) by the cooperative at any time. Both have in common that a payout or repayment can only be made if this does not cause financial difficulties for the cooperative. In the event of the cooperative’s bankruptcy, in both cases, the repayment of a bank loan and the settlement of other liabilities take priority.
With co-operative shares you support us the most! If many shares are bought, it will be easier for us to make investments for the foundation. After all, we save on monthly interest payments. This helps us to stand on our own two feet more quickly. Of course, you can also combine both models.
Which interest rate should I choose?
We have deliberately decided not to fix the interest rate in advance. We are aware that with the current inflation rates, an interest rate of up to one per cent does not represent a real profit. However, our project focusses primarily on idealistic values: we have a local cultural and political impact, create space and actively shape the city. Helping to make this possible is the real gain, that we can offer you for your investment.
Which duration should I choose?
Terms of a few years present us as a cooperative with the challenge of repaying the loan while we are still in the process of setting up and may have to repay a bank loan. If you are able to borrow the money for a long period of time, we gain planning security.
Ultimately, you should also consider carefully whether and when you might need the money, as the funds are included in our business plan over the term and cannot necessarily be repaid earlier at your request.
What does all this mean for me in tax terms?
The granting of a loan and the purchase of a share itself has no tax implications. However, profit distributions and interest are subject to regular income tax. Like all other income, you must declare them in your tax return, where they can be taxed depending on your personal circumstances.
Do I have other advantages by investing?
As a supporting member, you will be regularly informed about the financial status of the cooperative, you will be invited to the annual general meeting and you can take part in events that we plan just for our members.
Our employees, our visitors, the Cologne club scene and the entire city benefit from your subscribed shares or a loan. Your support gives those who work for us a job with the opportunity for co-determination. You can find out more about this in our text:
But there’s inflation!
The demise of clubs is in full swing and »we« as a society are loosing many places of development, of togetherness, of lived utopia. The collective financing of this project offers the opportunity to break this trend despite the crisis situation and the inactivity of politicians in terms of urban planning.
Contact and financial consultation hours
Do you have any questions or just want to get to know us?
Then get in touch with us!
or make an appointment by e‑mail for a telephone call or a personal meeting.
In our telephone consultation hour on Mondays 17:00–20:00: 0176 952 948 11
Please note that we cannot and may not give legal advice. If in doubt, you should seek professional legal advice.
1 »Die angehenden Genossen müssen vor Start ihres Unternehmens einen Businessplan für die ersten drei Jahre vorlegen, der vom Verband gründlich geprüft wird. Diese Kontrolle macht die Stabilität der Genossenschaften aus, deren Insolvenzquote bei nur 0,1 Prozent liegt.« Quelle: Silke Bigalke (15.12.2009): »Wenn Unternehmer zu Genossen werden.« Handelsblatt, https://www.handelsblatt.com/unternehmen/mittelstand/genossenschaften-wenn-unternehmer-zu-genossen-werden-seite‑2/3327322–2.html (abgerufen am 06.05.2022)